Starter homes in the New Forest District
A small number of starter homes have been developed in our district for first time buyers. These homes were sold with a discount on the open market value at first sale, making them more affordable to local people.
Selling your home
If you purchased a starter home within the district and are looking to sell your home or transfer ownership, you may be required to repay the discount either in full or in part.
- If you purchased your home less than 3 years ago you will be required to repay the original discount in full
- If you purchased your home more than 3 years ago, but less than 5 years you will be required to repay 50% of the original discount
If you bought your home for £230,000 including a discount of 20% of open market value.
- Full open market value = £287,500
- Original discount = £57,500
If you sell your home within 3 years of first purchase, you will be required to pay the discount in full =£57,500
If you sell after 3 years but within 5 years of first purchase, you will be required to pay 50% of the discount = £28,750
The requirements for the repayment of the discount are set out in the individual legal agreements relating to the planning permission for the relevant. These agreements are available to view on our website
If you are looking to sell your home, or would like further information on the conditions that relate to your Starter Home please email us
Email us at Housing.email@example.com