New Start Advice

MasterG83

After 6 years in the wilderness after a messy costly divorce and renting a flat I have finally got back on the ladder so to speak and bought a shared ownership property. Ive bought 50% of a 3 bedroom new build.

I was looking at staircasing as soon as I can but then had a thought, if I increased my share by too much then this could put it out of reach of future first time buyers, the house has to be offered back to the housing providor. My share is £80k

Im likely to sell in 2/3 years and want to make sure I can move it on again, the lower share the better I'm guessing as this would then appeal to more buyers looking to get on the ladder ?

Thoughts ?

mattk_180

Depends on the type of people looking. If a potential buyer wants to move out but only has a small budget and doesn't mind the idea of shared ownership then it would absolutely be attractive to them.


Plenty of others like me, however, would want to buy outright and not go down the shared ownership route.


You'll attract different buyers depending which route you go down, I suppose the answer lies in whether properties in your area are largely sold as shared ownership or mostly sold outright to determine your best chance of selling based on the current market.

MasterG83

I think the point is Its unlikely I will be able to get a mortgage for the other 50% of the house in 2 years time.