Shared Ownership

They sound very nice. Let us know how you get on.

Thank you for your replies. Visit was rescheduled now Monday. I am not on pension credit. The bungalows are being built are semis. They have parking for two cars and a fenced rear garden they are not finished yet. Don't really know what to expect re visit I have just filled in basic online form

Marieeliz If you are on pension credit you can get your maimtainance fees paid by the DWP. I don't know how it would work with this shared ownership arrangement, but if these are your circumstances it might be worth a call.

I really wanted my parents to do this when they were forced to give up their (ex council house) home when my mum couldn't get up the stairs. We looked into it and they could have put the money gained from the sale of their house down to (part) buy a little bungalow and claimed housing benefit to cover the rental part. But no, they wouldn't have it, they wouldn't listen and instead chose to fully rent another council property. Now every penny of the money they got for their house has gone in huge rents and my dad is left with nothing.

If I was planning to move to a development like the one you are considering marieeliz I would want to know, as Jane says, about the management charges and whether there will be a residents committee that have a say in how / where the money is spent. If you are allowed to take your dog, will you have your own fenced garden or is the development open-plan? Do you get your own designated parking place and will there be spaces for visitors to park, too? Who maintains the paintwork on the outside of the building?
If everyone is over 55 you shouldn't have a problem with rowdy neighbours, though you never know!

Jane10 if you buy less than 70%. You have to pay part rental. I will know more after visit on Friday. They are brand new and semi detached. Just thought someone might have done it already.

If you decide to proceed, I would get a good solicitor on board. One who specialises in property contracts. The contract for this type of purchase is different from the usual house purchase.

You will need one for the sale of your property, so using the same one makes sense.

So many questions! It sounds like it could be a good idea. Are there expensive monthly management charges? You'd better check about the dog just in case. I'd be interested in the build quality from a sound insulation point of view. If you ended up with noisy neighbours it could drive you nuts! Good luck. This certainly sounds worth your while to investigate.