Abri Homes: Buying into the Bath dream at Meryton Walk
Three bedroom townhouses available through Shared Ownership
When it comes to lifestyle choices, Bath really does have it all. In fact, the city was named as Vitality’s* best place to live this year, boasting an eclectic mix of independent shops, cafes and restaurants, as well as historic attractions, and beautiful Georgian limestone buildings, all within easy reach of local hubs and the capital.
With all this on offer, you’d be forgiven for thinking that rented accommodation is your best chance of living the Bath dream, but Meryton Walk, a stunning development just a 10-minute stroll from the city centre and available via Shared Ownership, is really set to shake things up.
Shared Ownership is a government-backed scheme that allows buyers to purchase an initial percentage of a home and pay a reduced rent on the rest. The benefit? Buyers at Meryton Walk could be looking at monthly payments on a Shared Ownership home that are no more expensive than renting.
Let’s do the maths on that a minute. Average monthly rents in Bath come in at around £2,000**. But if you buy a 30% share of a £555,000 home at Meryton Walk, based on a 5% deposit, you’re looking at monthly payments of around £1,922.72^. That means there’s a chance to invest in future homeownership for the same cost as renting. It’s a win-win!
With three bedroom townhouses on offer, all with spacious living spaces and modern fittings and appliances, whether you’re a first time buyer or a growing family, Meryton Walk has a home for you.
It just keeps getting better too. With Shared Ownership, you can go on to buy more shares in your new home as your circumstances change. This process is called staircasing and the more shares you own, the less rent you pay. For most properties, you can ultimately buy 100% and become the outright owner. That would mean that your rental payments would stop, and you’d just pay a mortgage^.
It’s really simple to purchase more shares in a property. You can buy a percentage that’s affordable to you, usually up to 75% – and then there’s an option to buy further shares at any point.
There’s lots of advantages to this – the lower deposits needed for Shared Ownership homes mean buyers can purchase sooner than they might have been able to on the open market, and unlike renting, you’re free to decorate and really make the home your own, with the security that your landlord won’t sell. There’s also a £500 per year repairs allowance to keep your new home in top condition.
With energy-efficiency at the heart of Meryton Walk, buyers can expect to lower their running costs too, meaning more money to spend on everything Bath has to offer. Provision for electric vehicle charging points across the development and photovoltaic panels on the roofs of the block B townhouses mean the whole development is future-proofed as well. It really does have something for everyone.
If you’re looking to make Bath your home, then why not use the new year to really put down roots? You can settle into your new home and start off 2024 in style***.
* UK Index Report
** Average rental values sourced by CJ Hole New Homes – October 2023.
^£1,922 includes monthly rent, mortgage payment and service charge. Affordability and eligibility criteria apply. Visit abrihomes.co.uk/terms for more. Speak to a member of our Sales team for more information.
***Completion dates are for guidance only and subject to change.
Share to Buy is a one stop shop for affordable homes. On our website, you can search for properties, compare mortgages and find out all you need to know about alternative home-buying schemes such as Shared Ownership via our article index.