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Young family of four buy their first home in their mid-20s

Young family of four buy their first home in their mid-20s

Aaron and Jo Carvell reserved and completed on their first home in just over one month. The young couple were initially looking to move in with Jo’s parents but once they saw their new home they just couldn’t wait to move in.

The couple have been together for 9 years and have two children, Mia and Maisie. They also share their home with a pet rabbit called Casper.

The family opted for a 3 bedroom detached property by Persimmon Homes at the Canalside development in Burton-on-Trent which they purchased through the Help to Buy Equity Loan Scheme.

The Help to Buy Equity Loan scheme allows buyers to purchase a new home worth up to £600,000 with just a 5% deposit and a 75% mortgage. The remaining 20% is covered by an equity loan from the government, which is interest free for the first five years.

“Before purchasing our Help to Buy home we were renting close-by for seven years, we both went to University so buying a home just wasn’t achievable alongside studying and raising our children.”

The couple purchased lots of new furniture before they moved in and had it stored across different family members’ houses so Jo is delighted to finally have all their belongings under one roof:

“In the rented house we were always conscious about what we could do so we are really looking forward to putting the finishing touches to our new home.”

Aaron (26) and Jo (27) were drawn to the property because of the open plan layout of the house: “It means that we can keep an eye on the kids if they are playing but also do our own thing in the kitchen which is a great benefit for any parent.”

Aaron explained that Jo’s sister bought a home on the same development last year so they were lucky enough to have someone else’s experience to draw on. This helped with the application as they understood the different stages of the buying process.

The family also praised their mortgage advisor at RSC New Homes who ensured they had the correct documentation so the sale went smoothly.

Asked if the family made any sacrifices to help save for their first home, Aaron explained that they had to forgo some holidays, opting instead to put money into savings account.

“We are just so happy that we have been lucky enough to buy our own home when many of our friends are still living with their parents and saving”.

In the future Aaron explained that the family “will look to stay in the house as it’s got enough space for us all” and it’s close to the Pirelli Stadium where Aaron and Mia regularly go to watch their team, Burton Albion.

It seems like this family have finally found a place they can call their own.

If you are looking for more information about how you can buy a home through the Help to Buy Equity Loan scheme then click here.