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The last house is gone.. do we go affordable?

4 replies

MyMabel · 24/06/2021 18:02

We put out house up for sale but we need to do shared ownership for our next house to upgrade to a 3 bed. The site we were looking at is close to work for both us us and we have family in the area so it’s ideal.

However, the very last of their shared ownership houses has just been snatched up. To be fair to the lady she held it off the immediate market for a few weeks for us to see if we could get an offer on our house (couldn’t pay a reservation fee until we had an offer)

We’ve had lots of viewings just recently with 3 people ‘very interested’ after viewing and apparently want to put an offer forward.. although we haven’t heard from those people yet.

The site where the houses are being built have only affordable homes left, so it means slightly smaller.. and you don’t get to choose flooring, kitchen, tiles, you don’t get integrated fridge/freezer ect.

However, I’ve just compared them size wise and the only room that is smaller is the kitchen, by about a meter. The bedrooms are actually bigger than the house we wanted.. but downstairs is about the same if not marginally smaller. Master bedroom also doesn’t have an en-suit.

My question is.. have I just got house blues and now want to rush and get one of the affordable and comprise on a lot of aspects.. or do we sit tight and just wait.. which we can anyway because we haven’t had an offer yet. But there’s no telling if or when anything shared ownerships will come up again I’m the area we want.

I’m so heartbroken and stuck on what to do. I need advice on what you would do.

OP posts:
MyMabel · 24/06/2021 18:04

Sorry by affordable I mean their actually called ‘affordable’ homes because they are cheaper, smaller square footage and you don’t get to choose all the nice things inside like the others.

OP posts:
Gardenwalldilema · 24/06/2021 18:11

I'd 100% go for regular ownership over shared, you can always replace some kitchen tiles down the line

ChicChaos · 24/06/2021 18:11

I'd go for the affordable home over a shared ownership one anyway tbh. So you'd own 100 per cent of the affordable one versus a percentage of the shared ownership house?

Hope you get an offer on your house soon OP, it is a very stressful time!

MyMabel · 24/06/2021 18:14

Sorry no, I’m the worst at explaining - it would be shared ownership regardless of whether it was the ‘nice home’ or ‘affordable home’

They’re both shared ownership, just one is slightly cheaper in overall price.

We unfortunately can’t get enough mortgage to buy outright without shared ownership.

OP posts:
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