What I Own: We saved for 10 years to buy our first home in West Sussex for £415,000

29/06/2024

We’re in West Sussex this week (Picture: Andrew Hasson)

Welcome back to What I Own – Metro’s property series where we speak to homeowners about getting on the ladder.

Last week, we visited 40-year-old James Barley and his 51-year-old partner David in East London. Since buying their two-bedroom flat in 2019, they’ve slowly made it their own – and now it’s plants and wall prints galore.

This week, we’re in West Sussex having a nosy around 27-year-old Georgia Ray and 26-year-old Molly Carpenter’s new home. After living with their families for the past 10 years, they eventually saved enough to buy their own place.

Here’s what Molly had to say about their property journey…

Tell us about yourself – how old are you, what do you do for work, and where are you based?

We’re Georgia Ray, 27, IT Programme Manager and Molly Carpenter, 26, HR Project Manager. We’re based in Angmering, West Sussex at David Wilson Homes’ Ecclesden Park development.

Whereabouts is your property? What do you think of the area?

Having grown up in Cornwall, Georgia wanted to stay living near the sea, so we decided to look at Angmering. The development is within walking distance to Worthing town centre and has great transport links to Brighton and Chichester.

The South Downs is on our doorstep which is ideal for long walks, and there’s a footpath leading out from the development onto miles of open space. I love cycling and used to play football quite a lot, and Georgia’s a keen runner so we couldn’t ask for more.

When did you move in?

April 26, 2024.

How much does your property cost?

£415,000.

How much was your deposit?

£41,500.

What is the monthly cost of living here now, both mortgage and bills?

Around £2,200.

How did you save up for your deposit?

Living with family and working full-time, we have been able to save money over the last 10 years. However, we only started to seriously focus on saving for a deposit in the last two to three years.

The pandemic definitely helped us as we were both going out a lot less and we could be stricter with ourselves in terms of spending habits, which helped us cut back.

Georgia (L) and Molly (R) had been saving for the last 10 years (Picture: Andrew Hasson)

What was the process of getting a mortgage like for you? Did you find any parts challenging?

When we started to think about moving in together, we were told there is never a perfect time to buy, so having saved for as long as we did, we just went for it.

The process was very straightforward as first-time buyers but – as expected – there was a lot of paperwork. It took a while, but our mortgage broker was fantastic and guided us through the process.

Can you share details on your mortgage (rate/term)?

We opted for a green mortgage as we have bought a new build home, which is eligible for houses with the energy rating of A or B, with a rate of 4.55% over 40 years.

We originally opted for 5.15%, but the rate dropped during the lead up to our completion, so we were really fortunate.

Where did you live before this – were you renting or living with family?

We were both living at our family homes before we moved in together. Molly was based in Crawley and Georgia was in Worthing.

The South Downs are right on their doorstep (Picture: Andrew Hasson)

What made you want to buy rather than renting?

We had both been saving for years prior as we were adamant that we wanted a place to call our own.

Being able to live at home while working full time jobs meant that it was the most sensible decision to put down a deposit and invest in a property, rather than renting and putting money in somebody else’s pocket.

How did you find this property? What made you choose it?

We found the Ecclesden Park development advertised on Rightmove and fell in love with it as soon as we saw it in person. The village we are in is five minutes from the beach and the South Downs, with nature right on the doorstep.

Having previously lived in cottages with our families, we know how much time and money goes into maintaining older properties, so we were pretty set on buying a new build.

How have you made the property feel like home?

We made sure that when saving for our deposit we factored in the furniture we wanted too, which has really helped the home match our personal style straight away.

Once we reserved our plot, we were able to pick the specific kitchen and flooring we wanted, so everything works together. The house has such a cosy feel and we’re really proud to call it our own.

What’s the inspiration for your interior decor style?

We both really like the rustic farmhouse style, which is quite neutral in tone, so we’ve gone for a more subtle and pared back design throughout the house. It helps to create a calm and cosy atmosphere.

What’s your favourite room and why?

For Georgia it is definitely the kitchen. She’s looking forward to hosting dinner parties and inviting people over – and with her passion for cooking and baking, she spends most her time in there!

For me, it would have to be the living room as it’s somewhere I feel I can really wind down and relax after a day at work.

Do you feel like you have enough space?

We have a three-bedroom home and the sizes of the rooms are generous.

The house is actually designed for a family, so there’s plenty of space for the two of us, and we’ve been able to create designated offices since we both mainly work from home.

The pair moved in in April 2024 (Picture: Andrew Hasson)

Do you have plans to change the property?

We have plans to paint the walls but nothing significant as everything is brand new.

We would like to work on the garden in the next year or two, but for now, we’re looking forward to our first summer in the house and inviting all our friends and family over.

Are there any problems with the property that you have to deal with?

None at all.

What do you want people to know about buying a home?

It was a straightforward process, however we’re not naive and understand that as first-time buyers who didn’t buy a house in a chain, there weren’t as many complications for us to overcome.

The most important thing we learnt was that we could switch mortgage rates right up until completion, so each month we would check the renewed rates to see if they had reduced and, when they did, we contacted our mortgage advisor to get switched over.

We had never heard of a green mortgage before but, after thorough research, realised that you can access preferential mortgage rates for houses with a certain energy rating, so we’d recommend for others to look into this when buying a house – particularly a new build.

What are your plans for the future, in terms of housing? Do you plan to stay here long term?

I think we will be here for at least 10 years and only potentially look to move if we wanted to upsize. We both love the village so would stay in this area as it’s got everything we need on the doorstep!