Shared ownership vs full

boxer234

I live in the SE house prices are high. In April I obtained a DIP with a 5% deposit.  I found a house I loved but of course got outbid.  

Nothing else interested me so I decided to stop looking, save a bit more and hope the current madness calms down.  I’m renting at the moment in an ideal location for work but it is pricey. The house I rent is small I have two big dogs and am feeling cramped.  

I can afford a 1/2 bed however will need to move further away from my family and job.  I’m already 45 minutes away from my family this will make it longer. I’m quite fussy and would like to live in a village I’m an ultra marathon runner and love hitting the trails.  

I’m not a FTB but divorced so had to sell my home.  When I buy I want it to be long term I really need stability.  I feel I have no choice but to buy a tiny house in an area I don’t know.  

I’ve always been against SO but have been considering it as I could live in an ideal location for me and have more space. I would have a 10% deposit. 

Is this really stupid ? Can they randomly put the rent up ? I know staircasing is expensive.  

Thank you in advance 

boxer234

Bump bump 

HanPop

Shared ownership worked for us, rent barely went up in the 6 years that we were there and staircasing wasn’t that expensive as there was an offer on with the housing association and they paid all of our legal fees. We had a really positive experience and made money on the house before buying our next one.

I think the key thing is to check out the housing association and see what they are like. Ours was fine but I do know of a friend who’s shared ownership property was through a different housing association and they put their rent up much more than ours.

boxer234

HanPop said:

Shared ownership worked for us, rent barely went up in the 6 years that we were there and staircasing wasn’t that expensive as there was an offer on with the housing association and they paid all of our legal fees. We had a really positive experience and made money on the house before buying our next one.

I think the key thing is to check out the housing association and see what they are like. Ours was fine but I do know of a friend who’s shared ownership property was through a different housing association and they put their rent up much more than ours.

Thanks that’s good to hear a positive story.  I’d hate for the rent to become unaffordable as I’m a single applicant.