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Rent to Buy helps young couple take their first steps onto the property ladder

Rent to Buy helps young couple take their first steps onto the property ladder

A couple from Sunderland have made the move into their perfect home thanks to Karbon Homes and a Government initiative to help first time buyers onto the property ladder. 

After nine years together, Kris and Alex were able to take their first steps onto the property ladder together, through the Rent to Buy scheme, and are enjoying life in their new, three-bed house on a new Karbon development in the city.  

“We’ve always rented because saving the considerable amount of money needed for a house deposit was never something we were in a position to do”, said Kris. 

“However, as we were beginning to outgrow our two-bed rental we started looking at what affordable home ownership schemes were out there that we might be able to take advantage of.”  

“We both work in finance and knew a bit about the Government’s Rent to Buy scheme, so after a quick look online we came across Karbon Homes offering the scheme on new homes being built very close to where both Alex and I work.” 

Rent to Buy scheme is aimed at people like Kris and Alex who would like to buy a property but don’t have enough savings to cover a deposit. The scheme allows them to rent before they buy and, as rents are set at 20% less than local market rent, this offers the opportunity to save towards a deposit. 

“Having always lived in two-beds we were looking for a three-bed to give us some much-needed extra space. We enquired about the new Karbon houses and the homes available ticked all the boxes for us.” 

“The price difference between what we were paying for a two-bed on the private rental market and what we’re paying for this new home has been minimal, so the move has been more than manageable for us.” 

Kris and Alex have settled into their new home and feel reassured by the security of having Karbon as a landlord.  

“We’ve settled in well and really like the house. We had a couple of minor issues but the site manager has been absolutely spot on and has got everything sorted for us really quickly.  

“We hope to be in a position to buy the house after five years however, if we aren’t, Karbon has confirmed that we’ll still be able to rent it from them, which really takes the pressure off.  

“We can see ourselves being here for the foreseeable future.” 

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13 June 2022

Development ,

Kris and Alex outside their new home in Sunderland

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