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Shared Ownership in Oxford enabled first-time buyers get their feet onto the property ladder
“Renting in Oxford is so expensive, we wanted to stay here long term, but we wanted to make sure we invest in something for ourselves"
Shared Ownership allowed the couple to buy in Oxford
Ranked as one of the most expensive cities in the UK, stepping onto the property ladder in Oxford is just a pipedream for many home hunters. Through the Shared Ownership scheme, one couple and their two kittens managed to make the move from an expensive rental into their own two-bedroom, two-bathroom home, at our development Newman Place in Littlemore on the outskirts of Oxford city.
Garrett (27), a Sales Associate and husband Guido (24), Tech Transfer Scientist, were previously living in rented accommodation in Marston North Oxford and paying approximately £1,900pcm in rent alone. With a desire to put down roots for the long term and stay in Oxford, but keen for a more secure living arrangement, the couple started their journey towards homeownership.
Renting in Oxford is so expensive, we wanted to invest in something for ourselves
Originally from Cheltenham, Guido comments “Renting in Oxford is so expensive, we wanted to stay here long term, but we wanted to make sure we invest in something for ourselves. Garrett discovered Newman Place while searching online and after doing some research and using the helpful online calculators we realised Shared Ownership would be the only way we could have the home we wanted in the area we wanted; we intend to increase our shares and staircase in time.”
The couple had been busy paying off debt and student loans and with only a little money in savings and utilising their honeymoon fund, the majority of the deposit came from inheritance funds and some help from the Bank of Mum. Now able to pay a substantial deposit of just over £20k and purchase a 25% share of their property for £87,500, the couple has seen their monthly outgoings reduced dramatically to just above £1,050 pcm (not including bills).
New build homes offer homeowners the opportunity to personalise as they wish
New build homes offer homeowners the opportunity to personalise as they wish, which is such a contrast from the constraints of redecorating rented accommodation. Garrett tells us how they have added a personal touch to their new home: “We have floor-to-ceiling windows and get loads of natural light, so it’s perfect for all our houseplants and our kittens Pico and Mickey love running around. We have been busy decorating our home with bright tapestries and paintings; in fact, we actually got our patio furniture as part of a Peabody incentive which was so lucky!”
Talking excitedly about what makes the couple smile when they think about their new home, Garrett says “A lot of things make me smile! I love the fact our fridge looks like a cabinet and not a fridge; it just feels so fancy! We have a huge shower and there is a luxury hotel feel to our home!”
Guido added “The Peabody sales team have been great, Charlie and Gabriella were friendly, proactive, and always happy to help with any queries we had. They have been communicative with regards to snagging and keep us informed every step of the way.”
Communal garden allotments allow residents to grow their own produce
Discussing the development itself, Garrett explains “There is the Science Park on one side, the area to the west is lovely with a good pub by the river and a nature path that leads to the Iffley Meadows nature reserve. It’s really quiet here, we love it and everyone is really friendly – we have even set up cat play-dates with our neighbour! There is a communal garden with mini allotment-style raised beds to allow residents to grow their own produce, we are looking forward to them being ready next year for us to use! We love a bit of gardening so it’s perfect for us. There is secure storage for bikes and also EV charging points that are due to be switched on.”
“A typical weekend for us varies, we can be real homebodies but by contrast love to explore” explains Garrett, “sometimes we are happy staying in watching films, but other times we like to go into the city centre and try out new pubs. In fact, we have the ‘Pubs Stops of Oxford’ guide that we are about 1/3 of the way through. We also have a scratch off map of the UK and because accessibility is so good from Oxford we travel out to different areas to explore. That said, locally we have so much on our doorstep with a movie theatre, bowling alley and football stadium close by and the train station at the Science Park.”
Newman Place is more than just a place to live, Garret says “Living here has given us somewhere to call our home.”
Please note, homes at Newman Place are now fully reserved.
Find more than just a place to live
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