Our shared owner, Luke, moved into his new apartment in the Summer of ‘Lockdown’ 2020. We caught up with him a few months later and Luke filled us in on his journey from property searching, to moving in!
After renting for years, Luke moved back home for a little while and started to save a deposit to buy his own home. When it was the right time, he began his property search, knowing that he wanted to stay in/near Newbury he stumbled across the development which he now calls home. “I first heard about shared ownership whilst I was looking for properties, after doing a little bit more research I began to hear about the scheme more and more, I’d not realised Sovereign had shared ownership homes!”
When Luke was able to visit the apartment with Sovereign sales consultant, Sue, it was during ‘lockdown’ so viewing the home was a different experience than what he had planned! “It was a great experience; I fell in love with the property as soon as I saw it!” Luke reserved his home straight away and didn’t have to wait very long until he was handed the keys. “It was a relief that ‘lockdown’ hadn’t held up much delay and all my saving had finally paid off!”
Moving in, Luke had the help of a friend and a big car! With the apartments mostly ‘completing’ at the same time there were lots of new and friendly faces moving in at the same time as everybody else. “The first thing we unpacked was my sofa, so we had somewhere to sit in between trips! It didn’t take very long, just a busy weekend and everything was finally in!”. Luke has met and introduced himself to most of his building, and remarked how friendly his new neighbourhood was, and had even had talks to buy a communal BBQ with his new neighbours!
Making a house a home
Like many other people adapting to working from home, Luke has transformed his spare bedroom into an office/gym space with room for a work-out bench and desk. “It’s been a life-saver having a separate room for working, not just sitting on the sofa with my laptop. However, sometimes it is nice to put your feet up and work whilst watching TV!” Luke has been keeping himself busy, not only with work and his home-gym, but starting little decorating projects to occupy some time! The coffee table in Luke’s lounge was an upcycle project he finished at the weekend, “This was my families table, it was all pine I just simply painted the legs and it looks great! Really suits the room.”
What owning your home means
After just a few months Luke already seems so at home in his new home. With rent, and open-market sales not an option for some people, shared ownership has become an increasingly popular way to help people get onto the property ladder. Luke was very grateful to finally stop renting and to have a home to call his own, “It means finally no more renting privately and wasting thousands of pounds paying somebody else’s mortgage. It’s great to get on the property ladder, which is hard to do as a single man.”
Shared ownership means that Luke was able to partner with Sovereign to purchase his home. He now has the safety and security of owning his own property, the freedom of making his own choices and the feeling of content that all his hard work and savings have paid off.
Have you heard of our Money Diaries series? We're talking to real Sovereign shared owners to find out exactly what it costs to own your home with shared ownership. For an insight into how other shared owners manage their finances click here.