Kent is a great place to live and work. It is one of the most well-connected places with many business and job opportunities. It is a good choice if you want a place to buy your first home.
If you have to commute to London daily for work or studies, then Kent is a suitable to live. Because it only takes more than an hour to go from Kent to London. It is much more affordable to live in than London. It is an ideal place for you if you want to avail London’s limitless opportunities while staying away from all the noise and air pollution. You can rent or buy a house here at a much lower price. Kent is much less crowded than London and has lower air pollution.
It has a feeling of pleasant countryside, but with all the opportunities that a city can offer.
Buying shared ownership properties in Kent (UK)
As mentioned, Kent (https://moathomes.co.uk/county/Shared-Ownership-Kent) is a great place to buy your first house. Because it is so close to London, you can easily commute to and from the capital. And its houses are much more affordable compared to London.
Usually, there are only two-house options: rent or buy it. But in Kent, some properties provide you with a third option, shared ownership. In shared ownership, you purchase shares in the house you will live in. You can buy any house percentage, such as 25%, 50% or 75% of the house.
The percentage of the house you buy belongs to you, and you will pay for its mortgage. And you will pay the rent for the percentage you didn’t buy. Now you may ask, would I have to share my house with someone else?
If the answer is yes, then it would be very inconvenient. But fortunately, the answer is no; you don’t have to share the house with others. The entire house is yours, and no one else will disturb your privacy.
You share the property’s ownership with the landowner or a property association. They won’t come to live with you. They will collect the rent for the part of the house they own.
Benefits of buying shared ownership properties at Kent (UK)
1. Easy start
It is difficult and expensive to buy your first house. Much of the money you earn is spent on living expenses and rent. It is tough to buy an entire house upfront, but with a shared ownership scheme, it becomes much more manageable.
You can buy as many shares of your house as you can afford. And pay the rent for the percentage you don’t own.
2. Buy as much as you can
Another great feature of shared ownership scheme is that you can keep buying more house shares. It means you can keep buying more shares in your house as you earn more money.
Through this process, you will own more and more of your house. And your rent will keep getting less and less, saving you more money to buy more house shares. A positive feedback loop will make your life easier as more time passes.
Eventually, a time will come when you will own 100 per cent of your house and become its proper owner.
3. Much more affordable compared to renting
A shared ownership scheme makes it much easier for an average British citizen to own a house. It costs much less than traditional practice, where you rent a house and save money to buy a home simultaneously. It is like a staircase where you can buy your house step by step, and it becomes easier with each passing step.