Shared Ownership - Opinions please.....!

Person_one

TheSaint_UK wrote: »

Person_one,

I totally understand what you are saying, but we have such a small house at the moment it is beginning to affect our sanity. There is no secure garden for our son to play in as our neighbours have a right of access through our front garden (quarterback house). This effectively means that we have no outdoor privacy whatsoever, as anyone can walk through our tiny garden at any moment.

The new neighbours who moved in behind us are constantly playing loud music and shouting until all hours, and we are just getting to the end of our tether.

Whilst I do concede that staying put is probably the easiest and possibly even more sensible option, I just can't see it happening due to how we feel about the place.

Its better to have no garden than to potentially ruin yourselves financially. I understand a lack of space can be frustrating but you need to get creative and use what space you have more effectively. I've lived in a house where there was access through the garden, and yes its limiting but it shouldn't mean you never use your garden!

What about a sideways move? To something of a similar value but a layout that might suit your needs better?

What about moving to a cheaper area? Looking at houses that need a lot of work, are repossessed or have been lingering on the market for years?

HARSA

Well it's 8 years down the line for my SO and I am still bragging. Can't comment on SE though. Also I don't live in London but in staffordshire.

Different schemes & experiences for different people and mine has been great. Moreso should put me into a better position to my ultimate goal. If I didn't take up the SO I doubt very much I would have been in the position I am in now.

geoffky

What is your position now? Because if your house price has not gone up in the last 8 yrs there is something wrong..It should of doubled.

kerrie77

I disagree with Shared Ownership being a scam.

My husband is a key worker and 6 years ago, we would never have been able to afford the kind of house we have presently. We managed to purchase 50% equity in a 3 bedroomed shared ownership resale and finally moved from renting.

We've decorated to an extent, but not done anything materially to the house. Our circumstance have changed which mean we can now buy on the open market. We had the house valued last week and its increased by 40k, in addition we've been paying a mortgage (rather than someone elses via rent) and have nearly 40k in total equity in the house (50% of the original valuation obviously belongs to the HA).

We've paid less in mortgage and rent on the 50% equity (that never went up year on year) than we were paying for a 2 bedroomed house and accrued equity. We'd have never been able to achieve that whilst renting.

I'm really surprised by peoples views on this forum: surely renting is the real scam!