I am in a shared ownership, I bought a 50% share over 10 years ago. The rent on the other 50% has risen by 33% in that time
The value of the property however has doubled so now I would have to pay twice as much for the second 50% as I did for the first 50%.
I have absolutely no regrets as the alternative was to continue renting, but there are pros and cons.
Pros:
It was the only way I could afford to buy, being alone.
It gave me a secure home that, unlike renting, I know I will never be asked to move out of.
It was only a few years old when I bought it, previous owners had put in things like mirrors, curtain rails, lampshades and towel rails so I could move in with minimal outlay.
Location...It is in one of the nicest spots on the estate.
No hassle or inspections from Housing Association
If I want to sell I know it will be snapped up as there is a big demand for more affordable housing.
Cons:
I'm responsible for 100% of repairs.
If I make improvements that add to the value, then sell, I will only get 50% of the added value.
If I don't buy the other half I will still be paying rent in retirement.
No help from the Housing Association, get very little for the service part of the rent - occasionally a gardener tidies the car park.
I can't go away for a while and sublet it, if I don't live here for over a year I could be forced to sell. This means if I meet a partner and want to move in with them I would have to sell it and lose the security of having a home of my own to fall back on.
If I buy extra shares, it might be harder to sell as it would be less affordable.
If I want to sell, I have to first let the Housing Association advertise it for several weeks through their list of people eligible for shared ownership. A valuation to put it on the market has to be done by their surveyor but paid for by me, and after something like 3 months it expires and has to be done again.
Not all mortgage products are available for Shared Ownership so I tend to end up with higher interest rates than for the mainstream market..