Shared ownership again sorry what's wrong with my logic?

Richard_Webster

Are you sure that the £317K flat will still be worth the same proportion more than the £268K flat in say 5 years time? New flats don't increase in value as much and in recent years have lost value.

Plans_all_plans

Would you consider moving elsewhere in London?

I personally like the look of this one http://www.rightmove.co.uk/property-for-sale/property-29517514.html OR this one http://www.rightmove.co.uk/property-for-sale/property-32835119.html Much better than living in an ex-LA flat in my opinion, although I acknowledge they're miles away from where you ideally want to be!

chimpxp

wow - they are a lot nicer than you can get round here. Jennifour - thanks very much, good advice. I think I'll just take it steady and see what i can get.

greenmoneysaver_2

Avoid shared ownership or the reasons above, an they are "valued" by the agencies who built them and the rent portion isoften artificially high.

The areas you are looking in aren't good long term bets - they have risen in price by being close to good areas, bt still lack the safety and basic amenities.

How about this?

http://www.primelocation.com/uk-property-for-sale/details/id/MSGR7758127/

chimpxp

looks interesting. Thanks very much for your (and everybody else's advice) i'm really pleased i signed up and posted the question. Reckon it's already saved me a few grand . PS any property links are much appreciated as i'm planning on looking at them to see what you get for your money in other parts of london

Plans_all_plans

I also like this one, again in South East London:

http://www.rightmove.co.uk/property-for-sale/property-33108935.html

Or there's this one in Stoke Newington: http://www.rightmove.co.uk/property-for-sale/property-18481845.html

Jenniefour

Take a look at what you can get over here - Ealing/Acton - for your money. And why not spend a bit of free weekend time going to look in other areas - you might be pleasantly surprised.

Plans_all_plans - love those flats.

thriftychap_2

Orpheo wrote: »

Shared ownership is a scam.

Is it not about time somebody banned this fella from shared ownership threads. He offers no useful advice at all.


His hate of them is fuelled only by his opinion that 'they are propping up the housing market' This may be the case but they are still useful to those in a situation similar to that of the OP.

Yes some are not as good as first expected but please be a little more open to the logic the OP has demonstarted.

hazyjo

Am I right in presuming you work in Central London somewhere? What's the nearest station - that would help loads in making a decision on where to live and will help people know where to suggest.

Jx

jc808

chimpxp wrote: »

you can get some ex-local authority properties that would be suitable and priced around 220-250. I'm thinking they might be my best bet. I've now consumed enough information to realise that shared ownership is not a good idea even though on the surface it's very tempting.

bloody expensive flats - 320k? :eek:

is this london? central london? where?
can you move out further?

if you dont need a house and just a 1 bed flat your options are v v wide

should easily, easily get a london flat 100 percent owned for 200k - just depends where

http://www.findaproperty.com/searchresults.aspx?edid=00&salerent=0&regionid=018&prt=2&bedrooms=01&maxprice=150000&radius=5

(ignore the so's at the top)