AFFORDABLE HOMES – WHAT YOU NEED TO KNOW

If you’re hoping to buy your first home, you may have come across the term ‘affordable’ housing (also known as ‘discounted sale’).

Genesis Homes build affordable properties on the majority of their developments. These homes are offered for a discount below their market value so buyers get to purchase a great home, in a fantastic location, benefiting from all the amenities offered within our schemes. It’s a great way to get your foot on the property ladder.

There is an application process to go through to assess your eligibility, and our sales executives will happily explain more about the scheme to you.

Your application will be assessed on various criteria including your housing need and if you have a local connection. The property must be your only home.

Genesis Homes is committed to delivering homes for everyone, and this includes those who might not be able to buy a property at full market value. We’re pleased to be able to deliver affordable homes, helping locals to buy one of our lovely properties, in a great location. Our affordable homes are built in the same way, with the same materials, and care and attention, as every one of our homes.

We often get asked if it’s cheaper to rent or buy. We asked an independent financial adviser to calculate the difference between the cost of renting and buying. Based on a 3-bed, new build house priced at £220,000, that would rent at around £700 per calendar month, the cost of a 40 year mortgage would be £465 per month (based on a £165,000 mortgage). This is a saving of £235 per month.

Our sales executives can help you with any questions you may have regarding our affordable homes.