9th February 2017
Demand for bungalows from younger buyers is on the up
Bungalows are experiencing a rise in popularity amongst younger buyers, according to county housebuilder Chestnut Homes.
The company has seen a steady rise in enquiries from first-time buyers and young purchasers who are interested in the single-storey properties which are traditionally favoured by older buyers.
David Newton, Managing Director of Chestnut Homes, said: “The interest in new-build bungalows from younger buyers may seem surprising at first, but these single-storey properties have plenty to offer them.
“New-build bungalows offer the same spacious, open-plan design and quality specification as a new-build house, with some designs offering the added bonus of being detached.
“Another reason which we have found for this interest is that the prices of our bungalows fit within the bracket which makes them eligible for purchase using the government’s Help to Buy scheme, which means that buyers only need a five per cent deposit.
“We are selling bungalows at two of our developments – LN6 in Lincoln and Willoughby Chase in Alford – and enquiries from young and first-time buyers on bungalows has become a noticeable trend to us.
“These homes have plenty to offer, but comparatively few new-build bungalows are built – so younger buyers who are entertaining life on one level should act quickly.”
Chestnut Homes’ two-bedroom De Clare bungalow at LN6, off Westbrooke Road in Lincoln, is priced at £164,950.
At Willoughby Chase, off Willoughby Road in Alford, the two-bedroom Hexham bungalow is priced at £144,950 and the three-bedroom Beverley bungalow is being sold for £229,950.
Help to Buy enables purchasers to secure a new home with a five per cent deposit and a 75 per cent mortgage.Back To News