This week’s new home buyer of the week is teacher Rema Pall.
The 39-year-old has a love of travel and didn’t want to be tied down by a mortgage. But after more than a decade of spending her hard-earned cash on rent with nothing to show for it, Rema decided the time was right to buy a home of her own.
With some help from her parents, she’s now the proud owner of a two-bedroom apartment at Redrow’s popular Ratio development in Slade Green.
“The idea of having a mortgage seemed daunting and so I lived in a rented apartment for 12 years before deciding last year that I was ready to make the commitment and buy a home of my own. I’d been travelling and moved from job to job, but now I’m more settled and have a full time job so decided the time was right,” Rema explains.
“Initially I thought about buying a three-bedroom home and looked across Kent but realised that would have meant counting my pennies at the end of every month and not having a social life. I then realised I could get more for my money by buying new and decided to buy a two-bedroom apartment at Ratio.”
She adds: “I’d only been saving for a deposit for a year but I had significant help from my parents. Having so much included in the standard specification made a big difference too, as otherwise I would have had to dip into my savings to buy essentials like a fridge freezer.”
The ease of maintenance offered by a brand new home means that if Rema is bitten by the travel bug, she won’t have to worry about the apartment. In fact she’s already thought ahead about the potential rental yield it could generate.
“I see it as an investment as it doesn’t restrict me from travelling in the future – I could rent out the apartment while I’m away. And instead of paying someone else’s mortgage I’ll be paying towards something that will be mine,” Rema says.
Are you inspired by Rema’s story? Why not take a look at what’s on the market in your area? Click here to find out more.