Here are some of the ways that Shared Ownership can smooth out the bumps of home-buying.
Home-buying should be a fun and carefree process, but it doesn’t always work that way. From the uphill task of raising the necessary cash to facing property chain delays, the course of buying your first home never does run smoothly.
That is, if you are yet to discover the joys of Shared Ownership. Using this part-buy, part-rent scheme, getting on the property ladder couldn’t get any easier! Here are some of the ways that Shared Ownership can smooth out the bumps of home-buying:
Less financial woes
It’s hard to enjoy the thrills of London living when you know your bank account is on its last legs. But with a Shared Ownership home, you’ll be far less afraid to check in on your finances every month. Why? Because Shared Ownership makes it possible to buy a share of your dream home, while you rent out the remainder. This is a much more manageable way of getting on the property ladder and frees you to enjoy all of the benefits of home ownership!
Experience the best of London living, at half the cost!
Many people want to enjoy the perks of a London lifestyle, but get put off by the sky-high prices of life in the capital. But what if you could enjoy living moments away from Central London, without paying a fortune for the privilege? This is where Shared Ownership really shows its value, giving you access to some of the most popular areas in London.
Whether you want the peace and tranquillity of living by a riverside, or the chance to live near a bustling food market, Shared Ownership can help you make your specific home-buying dreams a reality. For more on the areas available, check out BE WEST’s selection of Shared Ownership homes.
Greater sustainability
When you buy an older property, there’s always a niggling worry that you’ll need to call in a repairman when something breaks. But with Shared Ownership, you’ll be able to choose from a selection of new build homes that are kitted out with the latest fixtures and appliances. This means you’ll be far less likely to fall victim to the wear and tear that comes with owning second-hand homes. Given that new build homes require the use of fire-resistant materials and smoke alarms, you’ll also feel much more safe and secure in your home.
A flexible lifestyle choice
Shared Ownership is a choice that gives you plenty of flexibility when it comes to owning your home. For example, while you’ll start with a share as little as 10%, there’s nothing stopping you from owning 100% of your home over time. Through a process known as staircasing, you can buy more shares of your dream home, which reduces the rent you’ll pay over time.
And if you have a sudden change of heart? You’ll be delighted to hear that selling your Shared Ownership home is fairly straightforward. Initially your housing provider will get the option to sell your share, but after a period of time you’ll be given the opportunity to sell your share on the open market – provided you find a buyer eligible for the scheme. This means you’ll never have to be worried about getting stuck in a home you don’t absolutely love.
Enjoy a life of luxury with shared amenities
A dream home should be a place where you can leave the stresses of work life behind, and enjoy the peace and privacy of your own space. Shared Ownership homes help reduce stress by giving you a range of amenities to enhance your lifestyle. These often include communal gardens, terraces, and even shared social spaces for you to connect with your neighbours. In a Shared Ownership development, you’ll never have to look far for a place to relax and watch the world go by.
Greater financial security
Worried about your financial stability as a home-owner? Don’t fret – Shared Ownership is designed to give home-buyers peace of mind in their financial situation. As part of a Shared Ownership scheme, you’ll get the ongoing support of your housing provider, who can walk you through the process and assess your affordability. Shared Ownership properties are also subject to strict regulations and guidelines to protect you as a homeowner. With this sense of stability and support, you’ll be free to focus on the wonders of home ownership.
Avoid a property chain
One of the most stressful parts of buying a home on the market is that you often have to wait for your seller to find a new home before they can sell. But with Shared Ownership, you can kiss the dreaded property chain goodbye. Buying a new build Shared Ownership home is a completely chain-free process, giving you a speedy and carefree home-buying timeline.
Want to enjoy a smooth and carefree home-buying process? At BE WEST, you can take your pick from a selection of sublime contemporary apartments in West London, all available through Shared Ownership. With developments all over London, find your dream home today!