In an innovative move to support first-time buyers struggling to get on the property ladder, Knight Frank is pleased to have launched an exciting “Try Before You Buy” initiative at the Everards Printworks development by developer Artisan, in Bristol’s Old City.
This fresh approach by the developer, allows prospective homebuyers to rent their desired property while deciding if they want to commit to purchasing it.
The “Try Before You Buy” scheme works by having the developer (acting as landlord) set aside each month’s rent payment. At the end of the tenancy period, this accumulated amount can then be used as the deposit if the renter decides to purchase the property. Alternatively, if they choose not to buy, the money is retained by the developer as payment for the rental period.
Dan Harris, Partner at Knight Frank and Head of South West New Homes said; “First-time buyers have often had to rely on the bank of mum and dad to help them with a deposit or similar to get on the housing ladder. Currently, many parents are finding this more and more difficult as they are being financially squeezed themselves, so this opportunity is really proving popular with those looking to make their first steps into property ownership on their own.
Buyers are being given the opportunity of buying at an agreed price a year in advance. In the unlikely event that the property goes down in value, they can just make the decision not to proceed with the sale but have had a stunning home in the centre of Bristol during this time.”
Jaco Jansen, Managing Director at Artisan Real Estate, the developers behind Everards, said; “As developers, we feel it is our responsibility to support this sector of the market and ensure we help in whatever way we can. Since the Government’s Help to Buy scheme finished in 2022, first-time buyers have found it increasingly difficult get a foothold onto the housing ladder, and we are delighted to be able to support them with our new rent-to-buy scheme.”
“We feel this is of benefit to all the residents at Everards Printworks as it creates a tangible community from the outset rather than new residents living alongside empty properties while they are being sold in a challenging market. Those who have already taken up the opportunity have a real sense of pride for their property and, despite not yet owning the properties, have taken ownership of them and look after their upkeep with the mentality of an owner rather than a tenant.”
The residential properties at Everards Printworks are a new collection of one and two-bedroom apartments at the heart of Bristol’s Old City. These sit alongside leisure, office space and a hotel whose grand entrance is framed by the grade II listed Everards Printworks building.
With this pioneering “Try Before You Buy” initiative, Artisan is paving the way for first-time buyers to experience the joys of their potential new home while giving them the flexibility to make an informed decision about purchasing. An exciting opportunity not to be missed!
Prices at Everards Printworks start from £255,000 for a one-bedroom apartment and £325,000 for a two-bedroom apartment. Rentals start from £1,200 PCM.
For further sales enquiries please contact selling agents Knight Frank on 0117 317 1974 or email bristolnewhomes@knightfrank.com www.knightfrank.com
