A heartwarming act of generosity has seen a young local woman secure her first home in Cornwall, thanks to a significant £10,000 discount from the seller. The seller chose to overlook higher offers from out-of-town investors, prioritizing a local first-time buyer.
Key Takeaways
- A 26-year-old marine biologist purchased a two-bedroom terrace in Penryn.
- The seller gifted a £10,000 reduction on the £185,000 property.
- The decision was made to support a local first-time buyer over investors.
- The buyer saved diligently while working on expedition cruise ships.
A Dream Home Secured
Eleanor Boone, a 26-year-old zoology graduate from Falmouth, had been saving for a deposit for three years. Working as a self-employed marine biology lecturer on expedition cruise ships allowed her to save nearly £30,000, benefiting from free accommodation and food during her extensive work periods. Despite facing competition from potential buyers looking to convert the property into student lets, the seller opted for Eleanor, recognizing her status as a local first-time buyer.
A Generous Gesture
The seller not only accepted Eleanor’s offer but also generously knocked £10,000 off the asking price of £185,000, meaning Eleanor paid £175,000 after a £20,000 deposit. Eleanor expressed her shock and gratitude, stating that the seller’s decision was based on her being a local and a first-time buyer, a stark contrast to other offers from individuals based in London. This act of kindness made her dream of homeownership a reality at a young age.
The Path to Homeownership
Eleanor, who graduated from the University of Exeter in 2021, initially considered smaller properties but was drawn to the two-bedroom terrace in Penryn. The property’s Grade-two listed status deterred some potential buyers due to renovation restrictions, which ultimately worked in Eleanor’s favour. Despite initial concerns about securing a mortgage due to her work at sea, a mortgage advisor from Tembo Money successfully helped her navigate the process, enabling the purchase within a month.
Advice for Aspiring Buyers
Eleanor shared her top tips for other young people looking to buy their first home. She emphasizes the importance of securing a job that offers accommodation and food to maximize savings for a deposit. Additionally, she advises thorough research, including understanding associated costs like legal fees and surveys, and utilizing resources like YouTube for guidance.
Sources
- Cornwall seller gives young house buyer £10,000 off – because she’s local, Devon Live.
- First time buyer’s dream home in Cornwall thanks to discount, Falmouth Packet.
Cornwall Seller’s Generosity: £10,000 Discount for Local First-Time Buyer