If you’re a first time buyer or you’re looking to become one sooner rather than later or you simply don’t know quite where to start when it comes to buying a home, Shared Ownership could provide an answer to a few questions you might have. With its growing momentum on the property market, shared ownership is the new way to buy a home especially in sought after areas and pricier locations like West London. With plenty of options to choose from when it comes to this scheme, shared ownership may just be the route for you.
What is Shared Ownership?
This scheme essentially allows you to part-buy, part-rent a property and so you only pay a deposit on the portion you want to buy. This can be between 25% and 75% and with a smaller deposit you certainly won’t have to wait as long to get yourself on the property ladder and into your very own home. The rent you pay for them is also a fraction of what you are often charged by private landlords and you can certainly trust that you’ll have a bit left over to kit your house out in your dream decor. You can also staircase which basically means you buy more of the property over time and so when you do some to sell you keep a larger portion, or if you own it entirely, the whole profit or equity you make from the home. These homes are almost all new builds and with bespoke fitted kitchens, balconies, communal gardens or private car parks you can find something that really suits your lifestyle while embracing the smoother financial side to the scheme.
Where can you find Shared Ownership homes?
These properties are located all over the UK from houses for sale in Newcastle to Shared ownership Kent but where this scheme has really taken off is of course London. With house prices simply asking far too much of first time buyers in all areas of this region, Shared Ownership allows you to get on the property ladder here without the extortionate prices. With 2 bedroom city apartments in the heart of with shared ownership Bromley and family homes with front and back gardens in Maidstone, whatever you’re looking for Shared Ownership has it. They range from rural areas in villages out in the Canterbury Countryside to city skyline apartments with swanky bars and sensational restaurants only a couple of streets away. And with first time buyers in mind, you won’t have to compromise on anything to find your perfect home.
Why now is the best time to buy
With plenty of new homes being built in sought after areas all over the country, getting your hands on your perfect property sooner rather than later could really make a big difference to the kind of investment you’re making. With places like Ebbsfleet undergoing a huge regeneration programme, house prices are set to soar, so finding yourself the perfect spot now could really bring you that financial security and planning for your future and your family. And if you still have a few queries you can find shared ownership advice at Moathomes.co.uk and start your journey with a browse of these London listings.