Shared Ownership vs. Renting: What option is better?

Wondering if Shared Ownership is better than renting? With the help of our guide, your decision could become a little easier.

Looking for a home, but don’t have the savings for a mortgage deposit? In that case, the prospect of losing your hard-earned money on renting might not be super appealing either. If you’re in the market for a new home and considering your options, you might discover that Shared Ownership is a more cost-effective alternative.

Wondering if Shared Ownership is better than renting? With the help of our guide, your decision could become a little easier:

Shared Ownership vs Renting – Key things to consider

●     Cost

●     Flexibility

●     Landlords

●     Personalisation

●     Long-term security


When it comes to deciding where to live, the first question you’ll probably have is – how much does it all cost? For many people, renting is the logical first step before buying a home, a way to live in an area without saving for an eternity. Renting saves you the trouble of saving a massive deposit (though you might be asked to pay a month’s rent upfront), and paying for maintenance and repairs. However, given the high cost of renting in London, you might not get the most breathing space to save up for that dream home.

Renting might be a cheaper option in many cases, but Shared Ownership can often cost less than renting privately! This ultimately comes down to the size of the share you buy initially, as well as the area you choose to live in. What’s more, while rent money goes straight into your landlord’s pocket, the money that you spend living in a Shared Ownership property actually leads to home ownership. So while you might be paying slightly more in the meantime, you are at least building equity in your home.

Winner: Shared Ownership


Finding a living space is as dependent on your lifestyle choices as it is the money you have in your bank account. For example, Shared Ownership will make a lot of sense for someone who has found an area they love, and plans to stay there for the near future.

However, if you prefer a more spontaneous lifestyle, renting might be the best option for you. As well as enjoying the freedom of short-term leases, you’ll be able to trial a new area or living situation whenever you want to.

Winner: Renting


If you’ve ever rented an apartment in London, you’ll know that landlords aren’t always the most reliable of folk. From a lack of communication to a failure to address issues like mould or faulty appliances, there is a lot that can go wrong if you decide to rent a home on the open market.

With Shared Ownership, you can say goodbye to the days of problematic landlords. Instead, you’ll be able to depend on a quick and reliable team that can resolve your issues sooner rather than later. At BE WEST, we put our customers at the heart of our great living spaces. So as well as getting support throughout the buying process, you’ll also get help on the day of your move!

Winner: Shared Ownership


One of the glories of having your own place is being able to put your own personal spin on it. But when you rent a home, there is a limit to how much personalisation you can do. This means you’ll likely have to put up with your landlord’s specific design choices, for better or for worse (and it’s usually worse).

Shared Ownership homes are an entirely different story. Once you’ve got your hands on one (even with a small share), you can let your inner designer run wild. Repaint the walls, bring in some decorative cushions, and dress up your dream home however you see fit. For anything more drastic, like knocking down walls, you will need to get in contact with your housing provider.

Winner: Shared Ownership

Long-term security

When you move into a new home, it’s good to know that you’ll have a roof over your head for as long as you want it. However, renting an apartment doesn’t come with these guarantees. Instead, you are more dependent on the decisions of your landlord – if your landlord decides to sell the property, you could even end up losing your living space!

With a Shared Ownership property, you’ll enjoy a lot more security and peace of mind. For starters, Shared Ownership is built to be a more manageable way of buying a home, with mortgage repayments and subsidised rent that shouldn’t leave you financially overstretched. This means that, provided you follow the terms of the lease, you’ll never have to worry about losing your Shared Ownership property, or the money that went into it.

Winner: Shared Ownership

If you want to own a home of your own, but lack the funds to buy, Shared Ownership is definitely a better option than renting. With BE WEST, you can take advantage of Shared Ownership to purchase a dreamy apartment in a lively part of West London. For more information on how to buy, check out our property search!