First-time buyers discover new neighbourhood at Crescent Gardens
Read about Tharindu and Varsha's experience buying their first home with shared ownership at Crescent Gardens, East Croydon.
A positive start to married life
Six months ahead of their wedding day, Tharindu (31) and Varsha (26) moved from their individually rented homes into a brand-new two-bedroom apartment at Crescent Gardens in East Croydon. Both civil servants, the couple bought their first home with shared ownership and have reduced their combined monthly outgoings by a third as a result.
Reduced outgoings and planning ahead
Previously renting, Varsha and Tharindu were collectively spending around £2,300 per month on rent and household bills. This outgoing has been replaced with a monthly total of £1,850 which includes their mortgage, rent and service charge.
The convenient location and the comfort of their brand-new home has confirmed to Tharindu and Varsha that there’s nowhere else they’d rather be. They therefore plan to increase the share of the apartment that they own, which in turn would decrease the amount of rent they pay each month. If they staircase to 100%, they’d become outright owners and pay no rent.
Benefits for Tharinda and Varsha
- Combined monthly outgoings reduced by one third.
- Four-minute walk to East Croydon station.
- Straightforward commute for Thiranda, East Croydon to Westminster in 20 minutes.
- Convenient location, access to amenities within walking distance.
- Comfort of living in and owning their own home.
- Tharinda and Varsha reserved their preferred plot off-plan.
Not only are we spending notably less each month on bills, but we actually own a home now, which feels very different. We bought a 25% share of the apartment ... we know for sure that we want to stay here long term. It’s such a brilliant location and we plan to staircase when we can.
Varsha
