Shared ownership is this the best move.

BungalowBel

Within 1/4 mile of Urmston - 3 bed £250k or less.
https://www.rightmove.co.uk/property-for-sale/find.html?minBedrooms=3&sortType=2&areaSizeUnit=sqft&viewType=LIST&channel=BUY&index=0&maxPrice=250000&radius=0.25&locationIdentifier=REGION^25570&currencyCode=GBP

If you really want to buy, buy something 'suitable' rather than 'stunning' and maybe in a different area.

There is an area up the road from me, the best part of my town, I would love to live there but can't afford it.  So I live 1/4 mile away in an area that is still nice, but not my top spot.  Even in this area I can't afford detached, which is my first choice, but have a lovely semi-detached bungalow.

However, if you wish to carry on renting or buy shared ownership then do so.  I personally would consider both of those options a waste of money, but you may not.  It's your choice.

itsthelittlethings

I am slightly unsure how realistic borrowing £250,000 is if OP works in a not too high paid job and wife is full time carer. Someone on this thread said they have never rented, that’s a very fortunate position to be in. It may be that OP will be considerably better off in shared ownership financially yes it’s a gamble that UC support for rent will continue. We also aren’t all fortunate enough to rely on moving up the career ladder.

ExEstateAgent

As I said earlier in this thread, perhaps for the OP the shared ownership deal he can get is the best option. The OP wants a 'secure' home, to avoid having to move if/when their current landlord wants the property back. I agree that I would try to buy outright rather than SO but in this case, it might be best for the OP's individual circumstances. 

SarahB16

ExEstateAgent said:

As I said earlier in this thread, perhaps for the OP the shared ownership deal he can get is the best option. The OP wants a 'secure' home, to avoid having to move if/when their current landlord wants the property back. I agree that I would try to buy outright rather than SO but in this case, it might be best for the OP's individual circumstances. 

I am also minded to agree with your reasoning too for the OP's circumstances. 

The OP lives in Urmston and whilst Irlam, Salford has been suggested to the OP (of places the OP could buy) given the choice I would prefer to live in Urmston rather than Irlam. 

simon_grimshaw

 Yeah there are houses again but again want to avoid moving there areas i don't want too.
I never said there was never houses out there.

I spoke to a broker and he gave me borrowing of 240k. 

The appeal to this shared ownership to me is bigger secue house, i wont lose money on UC,
cheaper and less pressure if anything goes tits up at work. 

But obviously i am still not 100% sure.

BungalowBel

itsthelittlethings said:

I am slightly unsure how realistic borrowing £250,000 is if OP works in a not too high paid job and wife is full time carer. Someone on this thread said they have never rented, that’s a very fortunate position to be in. It may be that OP will be considerably better off in shared ownership financially yes it’s a gamble that UC support for rent will continue. We also aren’t all fortunate enough to rely on moving up the career ladder.

If you are referring to me, I said I had never privately rented.  We did have a rented council flat for a while.  But I also went on to say that we bought our first house fifty years ago and it was a completely different market.  I accept that things are far more difficult now.

I offered my opinion, which is buy in a cheaper area than your top one and buy a whole house.  That is my opinion which I have as much right to post as anyone else. The OP has as much right to ignore it too!

Tiglet2

Just seen this on Facebook - a young man took on a project at age 22 and 6 years later has a 4 bedroom home.  What a great start on the housing ladder!! 

OP, in life some people are doers and will go for it and some people find every excuse out there not to do something because of perceived obstacles.  I think you need to choose shared-ownership or 100% ownership soon, otherwise I fear you will dither and dither and nothing will change.  You're still young and you still have time, but don't dither too long.

https://www.facebook.com/photo/?fbid=25850844837844953&set=pcb.25850845151178255