The towns and villages within the Royal Borough of Windsor and Maidenhead have always been desirable destinations in which to live.
Easy access to central London and to Heathrow Airport, a selection of some of the most highly respected and sought after educational establishments and the Royal association, have helped to make the area extremely attractive to buyers and tenants – both from home and abroad.
The area is particularly popular within the international demographic, many of whom are especially attracted to the area by its two international schools (ACS Egham and Tasis – The American School in Egham). Corporations relocating staff from abroad are keen for them to be able to settle in an environment which is family friendly, commutable to the Capital as well as to an international airport and Berkshire fulfils these criteria admirably.
Many of these individuals are given budgets generous enough to rent a sizeable family property, which in this area, can command anything upwards of £8,000 per month – equating to £96,000 per annum. Renting a property certainly has its advantages – a Landlord responsible for overseeing property repairs and maintenance and the ability to move house quickly should the need arise. However, a new trend is emerging amongst this international client base – one with a slightly longer-term outlook.
Neil Simpson, Sales and Marketing Director at Bewley Homes, says: “Depending entirely on an individual’s circumstances, wants and needs, if you are being relocated for a term of five years or more and have enough capital to fund a 20% deposit, it may be worth considering buying rather than renting.
“Take the properties at Holcombe House Gardens, Bewley’s new development in Sunningdale, situated only hundreds of yards from Waitrose and the station. Prices here start at £1,450,000 for a 4 bedroom detached family house. Stamp duty and other legal and conveyancing fees aside, the mortgage repayment on this property equates to just over £5,617 per month over a 25 year repayment term* and, being an owner rather than a transient resident, has its benefits.
“Most significant is that if the property gains in value, you will be able to benefi from that capital appreciation. In this area, over the next five years, this is likely to rise by as much as 19%**. You may find it easier to settle down and establish friendships - however right or wrong, people are more willing to make an effort with those who have set down roots. You can make your home your own without having to seek permission to hang a piece of art or paint a room a particular colour. By buying a new home, you also have the additional peace of mind that less is likely to go wrong as everything in the property – from the boiler to the appliances is new as well.”
For more information, contact Bewley Homes on 01189 708200
* Example assumes all borrowers are over 18 years of age. Assumed purchase price £1,450,000 with a deposit of £290000 and a mortgage of £1,160,000 over a 25 year repayment term on a capital and interest basis. Assumes 24 payments of £5616.17 based on an initial interest fixed rate of 3.19% followed by 276 payments of £5933.82 based on the lenders current standard variable rate of 3.74% (Typical APR 3.7%). Lenders valuation fee of £1185 payable on application and lenders arrangement fee of £1499 payable on completion (can be added to the loan). All loans subject to status, valuation and credit score. Personal quotations available on request. Rates correct at time of going to press. E&OE
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP THE REPAYMENTS ON YOUR MORTGAGE
** Savills Research Forecast