Sovereign: Break the rental cycle with Shared Ownership at Knights Quarter
One and two bedroom apartments available in Winchester now!
Unsure if you can afford to get on the property ladder?
Don’t worry, you’re not alone – between the cost of living crisis, soaring house prices and high inflation, many buyers have put their homeownership dreams on hold. But that doesn’t have to be the case – even amid the current economic climate, Shared Ownership provides access to affordable homes for those who have otherwise been priced out of the market.
Featuring our Knights Quarter development in Winchester, Hampshire, we’ve explored how Shared Ownership remains an affordable route to homeownership and why buying a new-build home shouldn’t be overlooked.
Why rent when you could buy
One of the biggest misconceptions that remains around Shared Ownership is that it’s more expensive than renting. Whilst both living options have their advantages, monthly payments are commonly cheaper through Shared Ownership than if you were to rent privately, and you’ll get the added benefit of building equity in your newly built home.
In the below example we’ve compared the costs to live in a Shared Ownership apartment at our Knights Quarter development with the average rent for a similar sized property in Winchester*. Prices for our one and two bedroom apartments at Knights Quarter in Winchester start from £68,750, with deposits from just £3,438 (based on a 25% share).
As we can see, Shared Ownership remains an affordable option to get on the property ladder for first time buyers and renters alike. Now let’s take a look at what you can expect moving to a new-build home.
With a new-build home, you won’t need to spend your free time bringing your property up to scratch – you’ll get the latest in designs and layouts, all finished to a high standard. Our apartments at Knights Quarter have been designed to blend a stunning design with spacious open-plan interiors and feature:
- Modern fitted kitchens with built in electric oven with hob and extractor fan.
- Stylish white bathroom suites with a ladder style towel rail.
- Fitted carpets and flooring throughout.
- A covered terrace or balcony, providing access to a private outdoor space in all weathers on selected plots.
To help you create your perfect home, we’re offering a £3,000 IKEA voucher on all one and two bedroom Shared Ownership apartments at our Knights Quarter development**.
You’re free to spend it on anything you’d like – from essential furniture like sofas or a dining table, to the finishing touches like potted plants, soft furnishings and mirrors. Plus, you can book a session with an IKEA interior designer to get personalised advice or create a detailed plan for your home to suit your style and budget!
As we touched upon earlier Shared Ownership provides affordable housing in areas that would otherwise be too expensive, allowing you to benefit from the best that your town or city has to offer.
At Knights Quarter, our residents are just 10-minutes’ walk from Winchester train station and city centre, one of the UK’s most desirable cities offering the best of city and country living. Get swept up in the charm of this historic city as you explore ancient, cobbled streets jam packed with attractions.
- Shop ’til you drop: Browse independent boutique stores, high street favourites and a variety of weekly markets.
- A vibrant bar and restaurant scene: Spend your day café-hopping, or be spoilt for dining choices with a huge range of options for all budgets.
- Relax in local green spaces: Take a stroll along the river Itchen or explore the Hampshire countryside.
- Culture on your doorstep: Explore the iconic Winchester Cathedral or pay a visit to one of the numerous museums and art galleries.
- Entertainment & events: Immerse yourself in a variety of local events such as live theatre performances, festivals and exhibitions.
- Well connected: Great access to the M3 and A34, plus frequent mainline train services to Basingstoke, London, and Southampton.
The benefits of an energy efficient home have never been so important – especially in the current economic climate. The Greener, Cleaner, Cheaper report from the Home Builders Federation shows that a new-build apartments are up to 46% cheaper to heat than their older equivalents, providing significant savings as gas and electricity prices continue to soar.
For more information or to book a show home viewing, visit the Sovereign Living website or speak to our friendly sales team on 0300 330 0718.
*Shared Ownership figures based on a 25% share value. Calculated at a 95% mortgage value with a 5% deposit requirement, and mortgage interest rate of 5.5% over 30 years. Average rent for similar sized properties in Winchester according to Home.co.uk.
**Paid upon completion of sale. T&Cs apply. For more information, please speak to a member of our sales team.
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.