Enjoy renting but see the benefits of ownership… SO a good/bad idea?

betterbudgeter2021

*Edited this because I was being an idiot on the HMRC stamp duty calculator and getting back investment figures not residential ones.

So if we saved the £400k for two years, we’d have +£8800 plus or minus any compound gains or losses.

If we mortgaged for two years at £1400p/m, we’d have say £20k after 2x stamp duty and fees plus or minus any change in property value.

Seems the benefits of buying are pretty obvious even as a stepping-stone.

Although I’m aware I’m not factoring interest repayments into the above, the mathematics of which are above my capabilities so perhaps my calculations are wildly incorrect?

theGinge

This may no longer be relevant as I suspect you're already moving away from the Shared Ownership idea, but would you be eligible with the salaries you mentioned?

"You can buy a home through shared ownership if both of the following apply:

your household earns £80,000 a year or less (£90,000 a year or less in London) 

you cannot afford all of the deposit and mortgage payments for a home that meets your needs"

https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme

I'm assuming that you'd be forced to include your partner's income if she we're living there - part of the "household" - which may bring you over the 80k threshold (and certainly would if you got back to the 90-100k levels).