New research (Experian) has shown that nearly a third of private renters are now being forced to wait longer than they had previously planned to get onto the property ladder.
Nearly 1.7 million private renters across the UK are frustrated at having to wait to own their first property, something which is considered an integral part of adulthood.
This problem is primarily due to a severe lack of shortage in housing, and ever-increasing demand which has forced property prices to increase at an uncontrollable rate.
When asked, many renters believe that they wouldn’t be accepted for a mortgage (18%) which prevents them from approaching developers and agents, and others say they are unable to raise a deposit (10%). A further 5% have had to prolong the time spent renting as they’ve been held up in securing a mortgage.
The majority of frustrated first-time buyers are comprised of young couples and families who are looking to get a foot on the ladder. However, at Inspired Homes, we are dedicated to ensuring young working professionals can easily own their own home. Our London flats which are located in Croydon, Crawley, Sutton and Epsom start at just £175,000.
Our homes are more than just bricks and mortar though, because at Inspired Homes, we place a great emphasis on ‘living brilliantly’ with exceptionally designed communal areas. These include rooftop terraces, table tennis areas and even a BBQ ‘sky-garden’.
In addition, our London homes feature high-spec, high-tech fixtures and fittings such as LED lighting, NEST thermostats, Bosch kitchen appliances and granite worktops.
To find out more about how YOU an own your very own home, call us on 020 8688 6552.