The allure of living closer to the vibrant city of London has captivated the hearts and minds of many. However, the soaring property prices in London can often make this aspiration seem out of reach. Nevertheless, there’s a glimmer of hope for those yearning to call London their home – Wembley. This intriguing area has caught the attention of many potential homeowners, and the concept of shared ownership presents a remarkable opportunity to step onto the elusive property ladder. Let’s embark on a journey together as we explore this enticing prospect and delve into the world of Wembley and shared ownership in greater detail. Simply visit keaze.com for more information or read on for our take on why Shared Ownership could be the way to go.
Why Shared Ownership?
Shared ownership is like the Swiss army knife of homeownership options. It’s versatile, offering an array of solutions to those otherwise unable to breach the property market. Not just for first-time buyers, it can also serve as a lifeline for those who have previously owned a home but find themselves unable to buy outright.
You buy a share of your home (say, 25% to 75%) and pay rent on the rest. The advantage? You need only stump up a deposit on the share you’re purchasing, not the full market value. That’s like ordering a full English breakfast but only paying for the beans!
Living in Wembley
A shared ownership in Wembley doesn’t just offer you a foot on the property ladder; it places you in the heart of one of London’s most dynamic and vibrant communities. New developments are redefining the neighbourhood, providing modern living spaces without skimping on the heritage that makes Wembley truly unique.
You can shop till you drop at top-rated high-street stores, savour delicious fare from eclectic restaurants, or simply soak in the green spaces Wembley is known for. And if you have a penchant for activities that boost endorphins, Wembley’s gyms, leisure centres and swimming pools have got you covered. It’s like having your very own ‘monopoly’ on entertainment, all conveniently located within Wembley.
Education is not left behind either. With schools like Wembley Primary and Wembley High Technology Centre, both scoring a ‘Good’ in Ofsted reports, your little ones won’t be shortchanged.
Pros and Cons of Shared Ownership
However, like a British summer, shared ownership isn’t always a picture-perfect solution.
Here are some things to consider:
Pros:
- You can buy a slice of your property pie without the whole deposit.
- You can gradually increase your ownership share over time – known as staircasing.
- The combined monthly mortgage and rent payments can often be less than if you’d bought the property outright or rented privately.
Cons:
- Selling a shared ownership property can be more complex as the housing association has the right to find a buyer first.
- You’ll still have to pay 100% of the ground rent and service charge, even if you only own a share of the property.
- Restrictions may apply if you wish to sublet or make significant changes to the property.
The Commuter’s Dream
For the time-starved London commuter, Wembley’s transport links are a dream come true. The Wembley Park Underground and Wembley Central stations are a stone’s throw away, offering short journey times to the heart of London. This makes it the perfect base for city workers who want to avoid the long, crowded commutes that are about as appealing as cold tea.
Whether you’re a first-time buyer, a previous homeowner, or just looking to simplify your journey on the property ladder, shared ownership home in Wembley offer a golden ticket into the property market.
Experience the Best of Wembley
When living in Wembley, you don’t just get a place to hang your hat, you get a smorgasbord of culture, entertainment, and lifestyle options right on your doorstep. It’s like having a 24/7 buffet – but instead of prawn cocktails and beef bourguignon, you’re getting Wembley’s finest attractions.
Want a taste of the sporting life? You’re a stone’s throw from the iconic Wembley Stadium and Wembley Arena, where you can catch everything from the roar of an England match to the strum of a guitar at a sell-out concert.
More of an outdoors type? Wembley’s green spaces are a breath of fresh air in the bustling city. And if shopping is your cardio, the London Designer Outlet will get your heart racing with its top-rated high-street stores.
Making Connections in Wembley
Of course, Wembley isn’t just a destination; it’s also a fantastic base to explore the rest of the city (or even the world!). Thanks to the excellent transport links, with local stations like the Wembley Park Underground and Wembley Central, the heart of London and its nearby airports are just a short ride away. It’s like having a teleportation device – but much more reliable and less likely to get you into a pickle with the space-time continuum.
Embrace the Opportunity
The benefits of shared ownership in Wembley are clear, but it’s worth remembering that, like a British picnic, it isn’t always sunshine and sandwiches. There are a few crumbs to consider, such as potential restrictions on subletting or making significant changes to the property.
Whether you’re a first-time buyer or you’ve been around the property block, Keaze is a shared home specialist that offers a treasure trove of shared ownership properties in Wembley, catering to diverse tastes and requirements. They understand that navigating the property market can be as confusing as a roundabout with no exit signs, but they’re here to guide you through it.