First time buyers reflect on journey to home ownership at Pocket’s Addiscombe Grove CR0

Tom, a marketing analyst, and his partner Diane, who works in finance, moved into their first home together in April 2022 after viewing a Pocket Living apartment at Addiscombe Grove CR0 in East Croydon, and falling in love with its modern design, great transport links and its affordable starting price.

They were previously living separately in Brighton and Mitcham, respectively, having spent a number of years studying at university and working to save up ahead of their move to London for work. “We had both secured jobs in the capital and wanted to live together and so decided the next logistical step for us was to purchase our own home together somewhere fairly central”, explains Tom.

The couple discovered Pocket Living through a family recommendation. “My partner’s brother lives in a Pocket development in Kingston and he had really positive things to say about his experience so we decided to take a look around its Addiscombe Grove development in East Croydon. It wasn’t the only home we looked at in the area but we really liked the idea of buying a new build and the appeal of no one having lived there before, as well as Pocket’s reputation as a good developer. The discount applied for first time buyers, which was also very appealing so we decided to buy a one-bedroom apartment there”, says Tom.

Pocket Living is an innovative housing developer, which delivers one-bedroom apartments exclusively to first time buyers living or working in London. All of the homes are available at a 20% discount to the local market value and owners own 100% of their home.

Seamless buying process at Addiscombe Grove

As it was Tom and Diane’s first home, they were both reassured by the ease of the buying process. “Pocket Living provided us with really helpful guidance on the steps involved in buying our apartment, and even connected us with recommended mortgage advisors and solicitors. It made the whole process a lot smoother, which was exactly what we needed having not done it before”, they explained.

Location, location, location

The location of Addiscombe Grove, which is a four-minute walk from East Croydon station, was another major draw for the pair as the line offers excellent transport links via Thameslink, Southern railway and the Gatwick Express. Both London Bridge and Victoria stations are less than 20 minutes away, while residents can get to Gatwick Airport in as little at 14 minutes.

“We wanted to live in East Croydon for its commuting convenience. I work in Battersea, and my partner works in Canary Wharf, so having East Croydon station nearby has been fantastic”, said Tom who noted that he can leave his home at Addiscombe Grove and be on the train platform within a matter of minutes. The great connections to Brighton, which takes just 50 minutes door to door, also means he can easily visit his grandad who lives there.  

East Croydon Station, 0.1 miles from Addiscombe Grove

Beyond the commute, the couple enjoy spending time in the local area, exploring the variety of shops, restaurants, and entertainment options on their doorstep. “We will often take our friends to BOXPARK Croydon when they come to visit. It has lots of food options so it great if we want to grab a bite to eat, although Oodles, a Chinese restaurant on George Street, is a particular favourite of ours”, said Tom,

A home that meets their needs at Addiscombe Grove

Moving into a new home, complete with modern fixtures and fittings, meant that the couple could put their own personal touch on the property. “We were specifically looking for a new build as we didn’t want to do much work to it but we were very excited to decorate it, painting the walls, installing floor to ceiling TV cabinets and giving it a really cosy and comfortable feel – this was made much easier by the fact that IKEA is just a 12-minute drive away”, they noted.

Tom and Diane’s home at Addiscombe Grove

Top tips for aspiring first-time buyers


For those dreaming of owning their first home, the couple has shared some advice:

  1. Explore the area: “Make it an adventure! Spend time in the neighbourhood you’re considering. Walk around, visit the local cafes, and get a feel for the community vibe. It’s exciting to imagine yourself living there, and it helps you make a confident decision.”
  1. Save early and consistently: “No matter how small the amount, every little adds up. Consider using a simple budgeting rule like the 50/30/20 method: allocate 50% of your income to needs, 30% to wants, and 20% to savings. Watching your deposit grow is incredibly rewarding and brings you one step closer to buying your first home.”
  1. Take advantage of living at home: “If you have the opportunity, living with family for a bit longer can supercharge your savings. It’s a great short-term strategy that can help you achieve your long-term goal of homeownership faster. It’s a small sacrifice for a big reward!”
  1. Stay positive: “Buying your first home can feel daunting at times, but it’s an incredible feeling when you finally get the keys and step into a place you can truly call your own. It’s all worth it when you see your hard work pay off.”

6 realistic new year’s resolutions for first time buyers in 2025

Ah, the start of a new year – the perfect excuse for a fresh start, a new diary, and a long list of overly ambitious new year’s resolutions. But if 2024 is the year you’ve decided to trade in your rented digs for a place to call your own, we’ve got some realistic, first time buyer specific new year’s resolutions to help you get there. And don’t worry, these won’t involve kale smoothies or 5 a.m. wake up calls – just a bit of planning, saving, and savvy decision making.

1. Save a specific amount each month

Unfortunately, a home deposit doesn’t just appear magically. Work out how much you’ll need to save by your target move in date, and divide it by the number of months you’ve got until then. Then set up an automatic transfer to a savings account, preferably one with good interest. You could also consider a LISA to boost your savings. Tip: treat this as a non-negotiable bill, not something you’ll ‘get around to later.’

2. Know your credit score (and show it some love)

Your credit score is like your financial CV – make sure it’s on top form. Use a free credit report tool to check your score and look out for any errors. If it’s not quite where you’d like it to be, don’t panic. There are often small changes you can make which could make a big difference when it’s time to apply for a mortgage. Tip: We often work with Censeo Financial, an Independent Mortgage Advisor, and they recommend CheckMyFile to get a comprehensive view of your credit report.

3. Complete your Pocket Living affordability assessment

If you’re serious about buying a home (and let’s face it, you wouldn’t be reading this otherwise), your next step is to see what’s realistically within your reach. Complete an affordability assessment for the Pocket scheme you like the look of to find out what kind of mortgage you could qualify for. 

4. Define your non-negotiables

Not every property will tick all the boxes. Start by identifying your top five must-haves (e.g., a location close to work or wfh space) and your deal-breakers (e.g., no outside space or too far from public transport). This will keep you focused during viewings and help you make confident decisions when the right property pops up.

5. Build your emergency fund

Even if you’re moving into a brand-new Pocket home, life’s little surprises don’t stop once you get the keys. Whether it’s unexpected repair costs or just making sure you’re not eating beans on toast every night after moving in, having a rainy-day fund will give you peace of mind. Aim for three to six months of essential expenses tucked away in an easy-access account.

6. Book a viewing and take the leap

Once you’ve got your finances and priorities in order, it’s time to take the next step: booking a viewing. With Pocket Living, you’ll get access to affordable, beautifully designed homes that are built specifically for London’s first time buyers. And who knows? Your perfect home might be waiting for you just around the corner.


Buying your first home doesn’t have to be overwhelming. With the right new year’s resolutions (and a bit of determination), you’ll be well on your way to unlocking the front door to your own place in 2025. So why not start now? Create your My Pocket account, complete your affordability assessment, and make this the year you leave renting behind for good.

Happy new year!

What does the election of Labour mean for first time buyers?

Following Labour’s landslide election victory earlier this month, we break down what the election of Labour means for first time buyers and whether there is reason for hope over the next four years.

What does this mean for interest rates?

A misconception that is often made is that a government has the power to cut or raise interest rates. This is not true. This power is in the hands of the Bank of England which is independent to the government.

However, the long-term economic forecast suggests there may be a cut in interest rates at the end of the summer. Given the continued fall in inflation and the economic stability a new government offers, things are looking promising for a cut from the 16 year high of 5.25%.

What is ‘A Freedom to Buy Scheme’?

Labour’s manifesto promise is to help more than 80,000 young people onto the housing ladder over the next five years. To do this they have promised a mortgage guarantee scheme coined ‘A Freedom to Buy’.

What does this mean? In simple terms, the scheme would support first time buyers by providing a guarantee for part of your mortgage, meaning you will not need as big of a deposit when buying a new home.  This is likely to replace the current mortgage guarantee scheme which is expiring in 2025.

What about Stamp Duty?

Currently, first time buyers pay no Stamp duty land tax on properties worth up to £425,000. On any property purchase price of up to £625,000, you will pay no Stamp Duty on the first £425,000. After this first-time buyers will pay 5% on the remaining amount, up to £200,000.

This threshold commitment was made by the conservatives and will run at least until April 2025. However, labour are reviewing this position and may bring the threshold down from £425,000 to £300,000.

Although this is not official yet it’s worth bearing this in mind if you are thinking about purchasing a home in the next 12 months.

Will Labour bring back help to buy?

Labour has no intention of bringing back help to buy.

How else will labour support first time buyers?

Labour have also promised that they will support first time buyers by giving them first dibs on homes in new developments. Labour is yet to provide any further information on how this system will work but expect announcements over the next couple of weeks.

Looking for a way to get on the property ladder?

Pocket offers affordable discounted homes exclusively for local city-makers, providing an opportunity for those on moderate incomes to get their foot on the property ladder and own a piece of the city they love. Our homes are unique and we sell our homes to first time buyers at a discount of at least 20% to other one-bedroom flats in the area. Pocket is an alternative to shared ownership, there is no rent payable on these homes, and you will own 100% from day one.

London boroughs ranked by accessibility

The question of which borough is best for first time buyers is a hotly contested one. Affordability is undoubtedly an important factor, but so is the availability of local amenities and access to transport links. Where buyers choose to invest in their first home is one of the most important decisions they’ll ever make, so it’s crucial that the borough ticks all the boxes that matter most to them.

We conducted research to rank London boroughs by accessibility for city makers, taking into account annual house price growth, access to Cycle Superhighways and Green Flag parks and number of train stations and bus stops. Read on to find out which boroughs came out on top and why they stand out.

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