As new research reveals that 40% of people aged 25-34 cannot afford to buy one of the cheapest homes in their area, it is evident that first time buyers are being priced out of the current housing market. Bucking this trend however, is first time buyer, Emma Piercy (20), who decided to plan for her future early, and has been able to purchase a three-bedroom home at Annington’s popular development, set in the village of Walters Ash, near High Wycombe in Buckinghamshire.
Emma is originally from the village of Walters Ash, where rental costs average at over £1,700 per month. Realising that renting and saving was unachievable, she made the decision to live at home with parents to boost her deposit fund. After seven years of careful saving, and a final top up from her Dad, Emma found her ideal home in her childhood village, where she now lives with her partner Demi-leigh Hansen (also 20).
Emma, a Sales Executive for a tech company, comments: “Buying my own home has always been a long-term goal for me, and I have been saving up for a deposit ever since I started working full-time at the age of 17! I was lucky enough to be able to live at home with my parents, which allowed me to avoid the trap of renting. Although it has taken a few years, I feel a real sense of achievement that I have been able to purchase a home on my own at such a young age.
Emma continues: “Buying has helped me to strike the balance between having my own independence while staying close to friends and family. I initially considered buying in High Wycombe, but the idea of staying close to my roots and living somewhere quiet really appealed to me. Now, I don’t need to worry about adjusting to somewhere new as I am already a member of the community here.”
Located on the site of the former RAF Walters Ash base, Emma has bought one of the only newly built homes on the site of refurbished former military homes; as Annington increasingly moves in to the new-build market with a focus on providing high-quality homes for a range of buyers.
Sally Parsons, Property Director at Annington, comments: “Our Walters Ash development is ideally suited to first time buyers searching for their first home, as the properties are affordable while still being in an attractive location. It is great that Emma was able to purchase her first home in the village she grew up in.”
Emma is reaping the benefits of homeownership and has found that her mortgage payments are significantly lower than the average cost of rent in the area. As she has been able to remain in Walters Ash, Emma can continue to enjoy a short 45-minute commute to work in Maidenhead.
Emma continues: “The whole process of buying my first home has been so straightforward, and Annington has been fantastic every step of the way. Our first viewing of the property was just two months before we exchanged contracts, which was brilliant, as we did not have any lengthy waits. My advice to first time buyers would be to start saving as soon as you can, as homeownership is possible even on your own!”