“Shared Ownership allowed us to swap our London flat for a village home."
After six years living in West London, Jack and Stacey Harman decided it was time for a change. As their family grew, so did their need for space, and that meant swapping city life for a village setting in Ottershaw, Surrey.
Jack (35) and Stacey (36) were previously living in a one bedroom Shared Ownership apartment in Feltham, where they owned a 35% share. Recently, they took the next step in their homeownership journey by upsizing to a three bedroom home at Broxborough Park.
While Shared Ownership is often viewed as a route for first-time buyers to get onto the property ladder, upsizers Jack and Stacey saw it as an ideal way to continue their homeownership journey.
“Our last property was always meant to be a quick fix for a year or so, but then life happens, and we ended up staying for six." Jack explains. "When we had our son, it was clear that we needed to find a larger space to raise our family. The housing market can be a hard thing to navigate, but we were confident in Shared Ownership, and continuing with the scheme for our next home was a no brainer."
The housing market can be a hard thing to navigate, but we were confident in Shared Ownership, and continuing with the scheme for our next home was a no brainer.
Jack and Stacey
Customers
For Jack and Stacy, the selling and buying process was far simpler than expected. “The process of selling and buying was much easier than I was expecting. We took the money from the sale of our apartment in Feltham and put it towards our new house at Broxborough Park. Staying in West London and trying to get a three-bed home wasn’t even a thought in our head. If we need to get into London, the nearby station can get us there in less than 30 minutes.”
As you'd expect when moving into a larger home, the couple's monthly costs have increased, but the couple say the improved quality of life has made the move worthwhile.
Jack comments: “It is an adjustment to begin with, you see larger numbers on bills and you can get a bit nervous, but when you look around your home and see the extra space you now have - how my children now have their own bedrooms, my wife now has a space to work from home comfortably, and we have our own garden, it seems worth it. If I’m honest, I was expecting them to have increased by more than what they have. The quality of life which we now have, isn’t comparable to what we had previously.
“Looking ahead, as we plan on living here for a long period of time, we’re interested in potentially staircasing, but right now we’re not in any urgency to buy a larger share of our home. Where we are right now, suits us perfectly.”
Shared owners can buy more shares in their home over time through a process called Staircasing, as customers increase their share, the rent they pay on the remaining portion reduces.
Our dreams of upsizing were made possible by sticking with Shared Ownership.
Jack and Stacey
Customers
With London regularly ranking among the most expensive places to rent*, it’s no surprise that lots of people are choosing to move to more affordable commuter towns. Jack and Stacey are among those making the move, and they’re already feeling at home.
Stacey explains, “London is famously filled with people who have too much to do in too little time, so it took us a minute to get used to locals saying hello to us as we passed by. The area is absolutely perfect for what we need, we have walking trails and a playground on our doorstep, as well as local shops and great schools for our children.
“The village charm was the thing that sealed the deal for me. It’s ideal for young families, which makes up the majority of our neighbours. I’m excited to put down lasting roots here and watch our children grow up in this area.”
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