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IKEA, the name that savvy 20 somethings think of when buying inexpensive furniture for their first home, is getting into the English home building business. They are focusing on their core strength, low cost, high quality construction that is modular.

The apartments and townhouses range from £99,500 to £149,500 if purchased outright or less if purchased under a shared-ownership agreement.
IKEA has adopted guidelines to ensure the homes reach the targeted consumer. Potential buyers are required to put down a 5 percent deposit, and total mortgage costs cannot exceed 40 percent of the buyer’s annual net income.
To avoid speculators flipping the homes and driving up prices, qualified buyers are randomly chosen in a lottery, and Live Smart @ Home will handle all resales. via  Portfolio.com.

Now it looks like a good idea as long as the home you have bought does not have to be picked up at the store and put together by oneself. That is what a forty something now thinks of IKEA.

I came across this using twitter as someone posted the story. I clicked the link and now can not remember who brought it to my attention. If it was you, send me an email to tom@therealestatebloggers.com and I will give you a link.

Very cool, I use Twirl for my Twittering and it has a search function. So after 10 minutes of useless scrolling I clicked the filter button and determined that Jeff Turner of Real Estate Shows made the find. Thanks Jeff!

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