With the current economic climate making property prices unpredictable, budget-conscious first-time buyers are becoming increasingly concerned with how the value of their first home will change in the future. As a result, canny first-time buyers are increasingly looking for ‘investment’ homes that will retain their value and offer security against any future economic disruption. City worker, Elvira, 28, is an example of one of these first-time buyers who looked to future-proof her first property purchase.
Elvira has recently bought an apartment at City & Country’s popular Grade II Listed Brentwood development, The Galleries. With a recent report revealing that homes built before 1919 have soared in value in the last 25 years*, Elvira’s apartment, built circa 1853, offers a safeguard against property price drops in the future. Boasting an abundance of unique architectural features which are extremely difficult to replicate, Elvira felt that the property would offer the guarantee of future buyer demand and provide a great investment opportunity for her future.
Elvira comments: “The property market is pretty unpredictable at the moment so my main concern was finding a home that would retain its value and still appeal to house hunters in years to come. I find the history of The Galleries as a former Victorian hospital really interesting and I think it makes the property stand out from the crowd. The honeycomb ceilings and other period features are really unusual and so more likely to demand a good price, which is reassuring for when I eventually come to sell further down the line. I also like the fact that I live somewhere that has been an important part of the local community for such a long time: it’s nice to think my living here is adding another element to the building’s history.”
Elvira continues: “I had never really considered buying a period home; they often have a reputation of offering quite cramped interiors for a high price, so the light and airy atmosphere on offer in the properties at The Galleries came as quite a surprise! I know that a lot of first-time buyers go for new build properties with all of the mod cons, but as my home integrates modern interior design with the period architecture, I get the best of both worlds. I think the quirky nature of the property suits me and I feel really lucky to have found it.”
The development is surrounded by beautifully landscaped courtyard gardens and the fact that these are kept in pristine condition by a separate management company was really appealing to Elvira, who has little spare time to undertake household duties. Located on the outskirts of Brentwood, Elvira’s apartment is within easy reach of the shops, restaurants and clubs on the town high street, and is also close to Brentwood rail station, which offers a direct commute into the capital. Elvira has friends that also live in the area and is looking forward to exploring the area more when she moves in next month.
Elvira says: “Having lived in London my entire life, the thought of buying a property outside of the city had never even crossed my mind, but Brentwood is so well connected to the city and the surrounding area so it really wasn’t an issue. I work long hours during the week so it is nice to know there are lots of shops and pubs in the town for me to visit on weekends. I can get a direct train into the office which takes just over half an hour, and I have far more chance getting a seat on the train than I did commuting within the city! I have no regrets about buying at The Galleries and I’m sure I will be very happy here.”
David Walker, Head of Sales & Marketing at City & Country, comments: “We are really pleased that Elvira has chosen to buy her first home at The Galleries. Elvira can enjoy the best of modern life in a unique historic setting and with the town centre and train station both within such easy reach, she benefits from a convenient lifestyle that will be particularly nice during her busy working week. Brentwood is one of the most sought-after towns in the commuter belt, and we are really pleased that Elvira has been able to find such a unique home to enjoy here.”
Prices at The Galleries currently start from £199,950 for a one-bedroom apartment, £270,000 for a two-bedroom apartment and £375,000 for a two-bedroom house. For further information please contact the on-site Sales Suite on T: 01277 202122, or visit: www.the-galleries.net.
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