The average price that first-time buyers spent on properties in Reading during January 2019 was £269,344, according to the House Price Index. With the aid of the Help to Buy schemes available, you can also join these previous first-time buyers and take your first step onto the property ladder.
Reading contains a variety of areas that are perfect for first-time buyers to move to whilst also keeping within their budget. As one of the largest towns in the UK, there are many Help-to-Buy properties for sale, allowing first-time buyers to quickly save for a deposit and move in.
Before searching for the most reliable Reading removals to help you with your move, browse through our guide to discover the best areas for Help to Buy in Reading to set yourself a budget and find the areas most suited to your particular Help to Buy scheme. To work out how much you can borrow with an equity loan, use our Help to Buy calculator.
If you’re a first-time buyer thinking about living in Reading, you’ll want to consider Tilehurst as an area of interest as it’s fairly cheap and contains a variety of Help to Buy properties. According to Zoopla, the current overall asking price for property in Tilehurst is £348,839 with 2-bedroom houses selling at an average of £267,431.
There are currently a range of new-build properties that can be used with the Help to Buy Equity Loan. On Armour Road, there are a few 2-bedroom terraced houses still available for purchase. As it’s already a fairly affordable area within Reading, the use of any Help to Buy scheme will drastically improve your budget.
Green Park Village is a new housing development located on Longwater Avenue and marketed by St Edward. Due to this development, there are a number of newly-built 3-bedroom houses as well as 1, 2 and 3-bedroom apartments available. Most of the properties only require a 5% deposit with prices starting from £259,500.
The beautiful urban houses rest on the lake banks providing stunning views for every bedroom. From a new primary school to the Green Park business centre just opposite, there are a range of amenities for residents to explore as well as a proposed new railway station arriving later this year.
Third here and on our list of where to live in Reading, Woodley is a thriving area and the largest suburb in Reading. Due to its size, there are more opportunities for first-time buyers to step onto the property ladder.
Antler Homes is currently marketing Mulberry Place as a Help to Buy development. The Help to Buy Equity Loan is available to use on selected 3-bedroom houses. They offer underfloor heating as well as en-suites for the master bedrooms.
Another new-build development offering Help to Buy properties is Woodley Meadows, set to be finished in Spring 2019. It’ll contain a selection of 2-bedroom apartments and 3-bedroom semi-detached and detached family homes to choose from.
Next on our list of the best Help to Buy areas in Reading is Shinfield. Shinfield is a village just south of Reading, offering a number of new-build properties that can be obtained with a Help-to-Buy ISA. Shinfield Meadows and Heritage Park are both examples of developments containing spacious properties to buy using the Help to Buy 5% deposit.
From affordable 1-bedroom apartments to large family homes, everyone can find a property to call home. If you’re looking for a 1-bedroom apartment in Shinfield Meadows, the starting price is £210,000 with the deposit being £10,500. Semi-detached houses have a starting price of £390,000.
Caversham is a highly popular area in Reading, attracting young families as some of the best schools in Reading are located nearby. Despite the area being in high-demand, there are still plenty of properties for first-time buyers to purchase, from new-builds to smaller flats.
On Addison Road, Natta Homes have 3-bedroom townhouses for sale that’ll be completed in June 2019. But if you’re looking for something now, there’s a 2-bedroom flat available under the Shared Ownership scheme in Ruskin, with monthly rent starting at £629.08.
Reading Gateway has a mix of property types available, with first-time buyers being given the opportunity of using the Help to Buy ISA or Shared Ownership. From modern 2-bedroom apartments to beautiful semi-detached houses, you can use the Help to Buy ISA to purchase these properties with a 5% deposit.
If you’re interested in the Shared Ownership apartments, they currently have a monthly rent of £378.13 with the full price being £302,500. They are modern open-plan living apartments with fitted kitchens and allocated parking.
Imperial Way is sixth on our list of the best areas for Help to Buy in Reading as it has a wide variety of Help to Buy properties, from terraced houses to larger semi-detached homes. Whether you’re looking to move to Reading alone or with a family, there’s a property type suitable for you.
If you’re looking to move with children, there’s a 2-bedroom apartment for sale on Imperial Way that is in close vicinity to a number of well-respected schools. The price is currently at £320,000 due to its prime location. There are also newly built semi-detached homes that are available to buy using the Help to Buy Equity Loan with prices starting at £375,000.
Berkeley Avenue is packed with a range of new-build apartments for those looking to buy properties in Reading with the Help to Buy schemes. With a price range starting from £249,950, you can find a property to easily suit your budget. They’re all located within the town centre making them a perfect home for those working within Reading.
The more expensive 3-bedroom flats are priced at £426,000 but the Help to Buy schemes are still accepted. With large windows, modern architecture and a prime location, being a first-time buyer doesn’t mean you have to miss out on luxurious properties in Reading.
Reading Town Centre is a great area for first-time buyers as there’s an endless number of Help to Buy properties for sale. King’s Road is a thriving section of Reading’s centre, with a large number of Shared Ownership and Help to Buy properties.
Most of the Help to Buy properties on King’s Road are apartments, perfect for those moving to Reading alone or looking for a small home to settle into. 1-bedroom apartments begin with a selling price of £235,000 and 2-bedroom apartments at £370,000.
Aldworth Rise is the last development on our list of the best areas for Help to Buy in Reading. This development contains 3 Georgian inspired homes hidden in a quiet area that’s only a short walks distance from Reading town centre.
They are 2-bedroom houses with underfloor heating on the ground floor. The general asking price is currently £415,000, but the Help to Buy schemes are available to aid in your purchase.
Now that you know the best areas for Help to Buy in Reading, you may want to explore the schemes available to help you decide which area would suit you best. There are a variety to choose from, each designed to mainly help first-time buyers save for the crucial deposit. To help prepare you for your move, we have provided you with a brief description of each Help to Buy Reading scheme and how they can benefit you as a home-buyer.
Help to Buy ISA
The Help to Buy ISA is only offered to first-time buyers to help them quickly save for their first home and boost their savings by 25%. For every £200 saved, those with a Help to Buy ISA account will receive a £50 government bonus, with the maximum obtained being £3,000. If you’re planning on buying a home with a friend or partner, you can both use your ISA accounts to increase the bonus. You can use this bonus to buy any home worth up to £250,000 in Reading.
Help to Buy Equity Loan
The Help to Buy Equity Loan allows both homeowners and first-time buyers to save for a minimum deposit of 5% on a new-build home in Reading worth up to £600,000. The government will loan you up to 40% of the value of the house but you will need a mortgage of at least 55% to make up the rest of the costs. You won’t have to pay interest for the first 5 years of owning your home.
The Help to Buy Shared Ownership scheme allows first-time buyers and families with a household income of less than £80,000 to buy a share of their house and pay rent for the remaining sum. Using this scheme, you will only need to pay a 5% deposit for the house whilst paying a discounted rent for the rest. As you begin to buy more shares of the house, your monthly rent will start to decrease.
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