#MyStrataStory – Finding Value in Leeds' Suburbs

Moving from Leeds city centre to Colton.
We find out how living out of the big city can really pay off. featured image
Could you swap the city for the suburbs?
We find out how living out of the big city can really pay off.
Leeds city centre was ideal for Sammy and Matt when they were renters. With bars, restaurants and plenty of shops on the doorstep, it’s easy to see why they enjoyed living in the big city. Once they started thinking about buying a place of their own, the buzz of the inner city (and the high price of homes in Leeds) made them think more carefully about their priorities.

After some research, Sammy and Matt took a closer look at one of our former developments, Persona in Colton, which is just 6 miles outside Leeds. Sammy was already working there so the location made perfect sense. They’ve now been living happily in their home for three years.

Moving to the suburbs has really paid off - not only do they now have lower monthly outgoings and more space to call their own, but also an investment they hope will grow in value over the next few years.
 

The figures speak for themselves

Sammy and Matt’s two bedroom flat in Leeds was costing them more in rent than they’ve ever paid on their mortgage. The Home.co.uk Leeds Market Rent Summary shows the average cost of renting a two bedroom home in the city is £724 a month – that works out at £8,688 a year.
This is money Sammy and Matt realised they could have been using towards an investment of their own… and so their search for a new home began. 

Rightmove figures show the average price of a house for sale in Colton is £221,456. Like many couples, Sammy and Matt used Help to Buy to get onto the property ladder, which meant they only needed a 5% deposit. 

This works out at about £11,000 on the average cost of a home in Colton. With some careful financial planning and a budget in place, they realised their dream home was more affordable than they thought.


Best of both worlds

Sammy and Matt paid the reservation fee on their Modena home in August 2013, before moving in a few months later.

They haven’t made much of a compromise on their location since moving to Colton – everything they need is within easy reach without going too far from home.

The village is just a few miles from Leeds centre, so if they want to grab a bite to eat or hit the shops, their journey is quick and simple. They can hop in the car and drive into the city centre in just 20 minutes, or the 19 and 19A bus services run right into Leeds every five to ten minutes.
Sammy and Matt are both enjoying life in the suburbs. Matt works from home, while Sammy’s office is just a short walk away

They’re not the only ones making the most of their work-life balance. Government figures show people are spending less and less time travelling to work and are enjoying their leisure time more than ever. Commuting times have been falling for the past 20 years, with the average travel time now just 31 minutes in each direction.

Looking to the future

One of the problems with renting is you’re not going to see any return on the cash you pay out each month. Now they have their own home, Sammy and Matt can look forward to the likelihood of its value rising over the next few years, which will give them a return on their investment. Home.co.uk reveals there’s been an 8% rise in Colton house prices over the past ten years.

Now they’ve been in their home for a while, Sammy and Matt are always looking for new ways to customise their home and garden. This is something they wouldn’t have been able to do when they lived in Leeds city centre where space was at a premium. With more room than ever, and the freedom to really making it theirs, there’s plenty to look forward to as they continue to grow into their home.

If like Sammy and Matt you’re hoping to start a new life in the suburbs, take a look at our current collection of new homes in Leeds.