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shared equity scheme
Comments
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What SO schemes basically do, is distort the market value of the house you want to buy. If you think about it, the vendors probably arent doing this for your benefit, but if you do the sums yourself and are happy with the outcome then go for it.
Personally I would steer clear of SO schemes because regardless of the percentage they are selling you of "your" home. Whether its key workers having their pips squeezed by housing associations, or average joes buying from a developer, if you look at the overall valuations, they tend to come out very high.
75% of a 100% rip off with 25% paid later, is still a rip off.0 -
Wymondham, you had said that new build flats are the worst investment and drop value by about 20% - as i said before i am a total newbie here, id have thought new builds would go up in price more? whats the reason for them dropping in price? is it similar to a brand new car?
This has been well documented throughout the media etc... the reason for them dropping is because they are overpriced (even with the 20%+ falls) and the market is flooded with them. Older properties tend to hold their value better (like classic cars!).0
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