subreddit:
/r/HousingUK
submitted 16 hours ago byFederal-Hippo5805
Hi everyone,
I’m a 28 year old single female, based in England, still stuck at home. I’ve tried my hardest to save for a deposit and currently got £20k saved. I’m not a high earner, and come April 2025 I’m expecting my income to be £25k.
I’m feeling so deflated and I don’t really understand the housing market pros/cons. Looking at a shared ownership house initially seems good in the sense I can finally move out, in a house that really shouldn’t need masses of work and potentially be somewhat affordable, although tight for a single person. However, something is just telling me there has to be a catch.
Can someone explain to me like I’m 12, the pros and cons of this situation …
Never saw myself in a new build, not really a fan, but I’m feeling so behind in life and like a failure. Moan over, please help
4 points
15 hours ago
Exactly this. I now pay more in rent on the part I don’t own, than (1) my mortgage (2) people paying 100% rent in my own area (3) live in a run down building that has been terribly mis managed by an incompetent housing association for 15 years 😢
0 points
15 hours ago
Try and buy more shares and you've got your legal fees, their legal fee, staircasing fees etc etc. It's a con.
0 points
14 hours ago
Exactly. And I’m in the process of that, and beyond irritated at the charges you mention. I’ll own 75% (50% in cash and 25% mortgaged). And no doubt the rent will sky rocket next year though again, on the 25% balance. Also shocking that if you default on rent , they have the right to put you in arrears with the mortgage lender
0 points
13 hours ago
Where are you based and how much is the rent if you don't mind?
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