My shared ownership journey: A path to buying my own home.
Introduction
Hi, I'm Josh, originally from London, but for the past five years, I've been living in Dorset with my partner, Hannah, and our two kids. Today, I want to share my journey of how shared ownership has transformed our lives and helped us achieve the dream of buying our own home in Dartmouth, Devon.
The decision to pursue shared ownership
For a long time, we were privately renting, and it felt like we were just throwing away money month after month. I realised it was time for us to get on the property ladder. Shared ownership provided us with the perfect opportunity to do that, thanks to the lower deposit requirements and a more accessible market. It was a game-changer for us.
The importance of having our own space
Having our own space has been incredibly important, especially since we moved further away from our families. It has given us the chance to raise our kids the way we want and provide them with a good early start in life. Our own space is more for the kids than for us, but it has made a significant difference in our lives.
Recommending shared ownership with Aster
I would highly recommend buying through shared ownership with Aster. The process was incredibly smooth and quick. From our initial inquiry to moving in, it took around twelve weeks, which was much faster than we expected. The ease of the process was a huge relief, especially since dealing with solicitors can often be time-consuming.
What home means to me
Home is everything to me. I work from home and spend most of my free time here. It's about finding a balance between work and relaxation and being able to shut off from one while enjoying the other. Home is where I spend 95% of my time, and it means the world to me.
Loving our area and community
One of the things I love most about where we live is being near the sea. It gives me a massive sense of openness, which I absolutely adore. Dartmouth has been a fantastic place to live, with everything within arm's reach. There are some really nice restaurants and boutique food places that we enjoy exploring.
Top three benefits of shared ownership
The top three benefits of buying through shared ownership are:
- Accessibility: The financial restraints on the open market can be daunting, but shared ownership made it possible for us to put down a relatively small deposit.
- Affordability: The affordability factors were handled by the mortgage brokers, making the process stress-free.
- Opportunity: We were able to buy a three-bedroom detached house, which would have been close to £400,000 on the open market. We bought 45% of it, which was brilliant and allowed us to buy a home we otherwise couldn't have afforded.
Favourite feature of our home
My favourite feature of our home is the master bedroom. It spans the entire width of the house, giving me plenty of space to use half of it as an office. It's lovely to have so much room up there.
Shared ownership in our circle
My uncle bought a house through shared ownership about forty years ago, and while things have changed since then, shared ownership is becoming increasingly popular. It's much more accessible to people who don't have large deposits.
Advice for prospective buyers
If you're considering shared ownership, my advice is to look at what's available and make an inquiry. Even if you think you might not be able to afford it, the people who help you along the way are very open about what you can and can't afford. The process is quicker than you might think, so don't hesitate to inquire.
Conclusion
Shared ownership has been a fantastic journey for us, and I hope my story helps others to explore this option. It's a great way to get on the property ladder and create a space that truly feels like home.
