First time buyers and young married couple Kunal and Shivani, both 32, knew that getting on the property ladder was essential to obtaining the stability needed to start the next chapter of their lives. Fortunately for them, Stanmore Place, the award winning north London development by leading house builder St Edward provided the perfect option.
Kunal purchased a 1-bedroom, £300,000 home off-plan for him and Shivani at Stanmore Place’s Arthur Court, and moved in late in 2015. The couple, who married in 2012, have reached a stage in their lives where they are thinking about starting a family and require the financial security that comes with property ownership.
“For us the decision to get on the property ladder was about stability, especially as we may have children in the future,” Kunal said. “I work as a financial controller so really appreciate that money spent on rent is rarely beneficial to your personal finances. We were attracted to Stanmore Place when we visited the show apartment and were struck by the high quality, easy to maintain, upmarket modern finishes, and the development’s attractive landscaping. Because we are busy professionals, the 24 hour concierge service and residents gym were also important – having your dry cleaning or deliveries taken care of and being able to exercise close to home really makes a difference to your quality of life,” he continued.
Stanmore Place comprises 1, 2 and 3 bedroom apartments and is located in a beautiful setting, boasting landscaped gardens and a serene feature lake, which already has resident families of ducks and moorhens. Water is a central theme at the development, with its attractive lakeside environment, which includes three impressive large fountains. It is a safe, attractive environment where children can play.
So has property ownership at Stanmore Place bought the benefits the first time buyers were expecting? “Previously we were spending about £1,500 a month on rent and £75 on gym membership. Now our mortgage payments are £1,000 per month and gym membership is included in the service charge – clearly saving almost £600 a month while paying off a mortgage is a huge benefit as we prepare for the future. The quality of our property, the quiet surroundings and the development’s facilities are also great,” Kunal commented.
Buying off-plan from St Edward was also beneficial for Kunal and Shivani as they were able to spread saving for their deposit over 12 months. They knew that a £45,000 deposit was needed in total, but only 10% was required when contracts were exchanged at the end of 2014, a further 5% six months later, and 85% at the time of completing.
“This enabled us to save aggressively in the lead up to the completion date. We knew exactly how much money we needed for the deposit and when it had to be paid. We budgeted for a 12 month period and saved a certain amount at the end of each month,” Kunal explains.
As well as the 24 hour gym, and dedicated concierge service, Stanmore Place residents can take advantage of a car share club and Business and Innovation Centre. The wider Stanmore and Bushey area surrounding Stanmore Place creates a village ambience on the outskirts of Central London. Antique shops, cafés, boutiques and restaurants nestled along The Broadway and Stanmore Hill create a quaint cosmopolitan atmosphere, while the nearby Sainsbury’s superstore and Brent Cross Shopping Centre are nearby.
Stanmore Place is just 25 minutes from London’s West End and moments’ walk from Canons Park Underground Station on the Jubilee Line. Access to the M1 and M25 allows for easy transit to Heathrow and Luton airports.
1, 2 and 3 bedroom apartments are available, ranging from £380,000 to £715,000 in price, and 521 sq ft to 1,136 sq ft. From 27th February 2016, nine properties at Stanmore Place priced between £505,000 and £577,500 will become available under the government’s London Help to Buy scheme, where the government can provide buyers with an equity loan of up to 40%. St Edward is holding a special Help to Buy launch event for these properties at Stanmore Place from 12.00pm to 4.00pm on Saturday 27th February. Those interested in attending should contact St Edward on 0208 952 2853.
For further information on Stanmore Place please contact St Edward on 0208 952 2853 or visit: www.stanmoreplace.co.uk or call selling agent Preston Bennett on 0208 954 8626.