Shared Ownership _ Urgent Help!

helen_dui

Well I just moved into my SO home last week and so far so good. It is a brand new property and to be honest it took ages and ages to finish it off, and was subject to delays. We started the process in Nov last year so it's taken forever in my eyes. But having said that I am thrilled wiht it now. It's on a new estate and only a small fraction are SO or even owned by a HA. Our neightbours (so far!) seem lovely and I have no complaints. Even when work needs doing or things need finishing off we are having no problems with the builders coming over to help (again, so far!).
Having said that though, the HA have had their moments of being helpful and sometimes downright stroppy which is annoying and left me very peeevd on variosu occasions. But we knew we were getting a great deal so persevered and have hopefully come out on top.
For us it was worth the wait - we were moving out of our known area a bit but we researched the place thoroughly and made an informed decision - so I would really advise doing this.
If it wasn't for SO we would never have got on the housing ladder with property prices the way they are. My opinion is - these opportunities come along few and far between, so it might be good to take the opportunity - but follow your gut feeling - it's usually right.

AKK_3

I think after renting for so many years, I am so tired of it all and need some stability. I don't envisage staying with a SO property more than a few years.
Not sure what kind of landlady I will make, but I suppose its all experience at the end of the day.

AKK_3

Should I pay all the stamp duty at once or not! I would be stretching it abit, as I would like to put down a 5% deposit.

izoomzoom

We signed contract for our SO purchase today.

You can see from our signature how long it has taken, and I have to say that we were registered with this and other HA for two years prior to that. SO properties that were suitable for us were few and far between and there was lots of competition from others is equal situations.

If you do decide purchase, make sure that the property that they are offering you is the right one for you. Do not feel pressurised to buy as this will probably be one of the most important financial decisions that you make. The parking seems to be an issue for you, so satisfy yourself entirely before you decide.

I will also point out that until you sign the contract and have exchanged ( which incidentally have not yet done) you are NOT legally bound to purchase the property.

HTH