Jenie is a research nurse and decided to become a first-time home buyer during the pandemic. It really changed her life; from renting in a house share to being the sole owner of a modern apartment in Ealing, West London, which she now decorated to her liking. This is her story and her advice if you're thinking about getting into Shared Ownership:
Her new apartment is part of our new development SO Resi Ealing. For this video, we've partnered with MoneyMedics, a UK YouTube channel that shares stories and information to educate people about home buying. They were able to interview our customer Jenie, who's been so kind in being available to explain her success story in details.
While special, this is a story that can speak for many people. Jenie used to be renting in London in a flatshare, but at some point she realised that all her monthly expenses for housing were just going to waste. None of these fees were in fact counting towards equity or investments, and they were just spent away. Furthermore, renting a room also had big limitations; the apartment cannot be personalised to one's liking, you have to share a bathroom, kitchen and living space with other people, and your own space is confined to really only a bedroom.
While buying a property at full value in London was out of the question financially, so the Shared Ownership route was an ideal alternative. Jenie has now been decorating her house in a modern and zen style, with cream-coloured walls, paintings and plants*. Most of her furniture is also new, as she felt that it is more "her own". She now also has her own space where she can dedicate herself to her favourite passion: painting.
In terms of expenses, her one-bedroom apartment in Ealing also comes with a manageable monthly expense. Including rent, mortgage and service charge, she only pays around £1200 a month, including the bills. Yet, the best part is that only £850 is for the rent and service charge.
You can hear more from Jenie and her background story in an interview that we'd recorded earlier when she first moved into her new place:
Jenie at the rooftop garden of her building in Ealing, London
Whilst you're here, take a look at our other blogs for the latest interior trends and our favourite first-time buyer hotspots. You can also stay tuned by following us on Instagram, Facebook, and Twitter.
*As a homeowner or a shared owner, there are some changes that you can make to your property without asking us and some that need our permission. https://www.mtvh.co.uk/manage-your-home/homeowners-and-shared-owners/home-improvements-and-alterations/
Written by the SO Resi In-House Team