Latest views on buying Shared Ownership properties

thunderb0lt

Hi

What’s the current consensus regarding buying shared ownership properties. Having read previous threads it seems to have been hit and miss. I attended the Share To Buy event in London on Saturday and was overwhelmed by the number of people there. Whilst the idea of minimal costs (ie small deposit) seems great, when you add up the monthly costs it can still be quite expensive to manage.

What I’d be interested to know is the resale value especially in London. How likely would it be to make a profit selling a share of 25% profit after say 2-3 years. Would welcome experience of previous London share to buy owners.

Thanks

Shellsey84

I’ve not bought in London but another part of the country. This will be the only way I can afford to get onto the property ladder as a single person.

I am currently waiting for a date to exchange and complete and I am looking forward to calling somewhere my own (I know I down own all of it).
I am aware of the costs attached and rent and mortgage combined is still half of what my rent currently is!
I know people call it a ‘scam’ etc but like I said, unless I want to go into a house share at 34 this is my only option (I am 200 miles away from family due to my job and being priced out of my home town)

Sorry it’s not given you any help re London but a friends just done it in Reading and is very happy.
Good luck and I hope you find the answers you are looking for