Me, DH and our 2 dc are Currently in housing association in a dreadful area. Really dreadful. I am really unhappy and worry about the long term prospects both with being in rented and also the bad area affecting the DC as they get bigger. they are only 3 and 6 at the moment. On the plus side though, as the rent is very cheap (well, compared to market rates anyway) we have a reasonable standard of living. and because we are in a secure tenancy we have decorated the place really nicely and it is a really nice house.
I would dearly love to buy, but the only option I can see that would be affordable to us would be one of those part ownership schemes. We will have to make a decision soon as DH is getting on a bit tbh (in terms of house buying) - he is 41. I am only 33 but it would probably have to be just in his name as I am not working and haven't really since DC1
I know a lot of people are very sceptical about these, but wondered if anyone has any advice for us, maybe have done it themselves or know someone who has. or equally, any horror stories welcome as well
I am not working at the moment but DH is. we haven't got great credit histories and next to no savings, well, we have a couple of grand. but on the plus side we have no debts. DH earns 25k roughly. I am also wondering if buying is the be all and end all anyway, tbh I feel under pressure from my parents, family and friends who are a bit sniffy as we "haven't bought yet" and also feel like people judge us for the area we live in.
anyway I have rambled but any words of wisdom will be greatly received.
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Would it be a big mistake to buy a house on a part ownership scheme?
31 replies
MoomieAndFreddie · 19/09/2012 12:18
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