Having taken voluntary redundancy after a 37-year career in banking, Mike Richards from Tavistock in Devon was on the lookout for a sound investment opportunity and, scrolling through Facebook one day, he discovered Cavanna Homes’ show home leaseback scheme.
Mike and his wife Alison had originally considered buying a holiday let on the South Devon coast, but soon changed their minds after discovering the leaseback scheme at Broadleigh Park in Tavistock, close to where the couple live.
Mike explained: “We’ve lived in Tavistock for 10 years now, so when this investment opportunity popped up on our doorstep, it was a total fluke! At the end of 2018 I took voluntary redundancy so we were keen to use the redundancy money to make a secure investment for our future that also provided a healthy income stream.
“I contacted Cavanna using online chat that evening to get more information and they called back the next day answering our questions. We booked an appointment to look around the show home that week and were completely sold on the scheme, so we reserved a couple of days later and haven’t looked back since.
“We were always keen to invest in property, but we’d never come across a scheme like this one before. We did lots of research before signing and even contacted other homebuilders to learn about their similar schemes, but none were as quick coming back or as helpful explaining the information”, said Mike.
“We loved all the added features which came with the show home; a south-facing, landscaped garden, top-end fixtures and fittings, good sized rooms, the opportunity to buy the beautiful décor at the end of the lease, and no bills! The only cost we have to manage is the buildings insurance, the rest is covered by Cavanna Homes, plus we don’t have any agent fees which we would have had if we’d invested in a holiday let”, added Alison.
The leaseback scheme typically runs for 24 months while the show home is used to promote the development. It is handed to the buyer once the majority of the new homes on the development have been sold or reserved.
Mike added: “We would whole-heartedly recommend using Cavanna’s show home leaseback scheme. It provides a fantastic income and we’ve been well looked after. Any information we wanted or any questions we had were answered promptly and this is certainly an investment we would look at doing again in the future.
“Our dream is still to have a property on the coast in the future, so we’ll be keeping a close eye on Cavanna’s future coastal developments!”
Karen Overton, Sales Advisor at Broadleigh Park said: “Our show home leaseback scheme is very popular with buyers who are not in a rush to move and looking for a sound investment opportunity.
“We’re really pleased that Mike and Alison are already seeing the benefits of our brilliant scheme and we’ll be taking very good care of their property whilst we’re here!
“We only have two new three-bedroom homes remaining for sale in phase one of Broadleigh Park, so if anyone is interested in moving to this scenic town on the edge of Dartmoor, get in touch to book an appointment to visit us”.