Discover how shared ownership in London helped Derek buy his first home in Harrow. Learn about his journey, the benefits of shared ownership, and why Eastman Village was the perfect choice.
The challenge: moving from renting to shared ownership in London
Derek, a 30-year-old product design consultant, had been renting a shared house in Brixton. However, as his career progressed and his needs changed, he realized that renting no longer suited his lifestyle. With his landlord selling the property and rental prices soaring, Derek faced a decision: continue renting or take the leap into shared ownership in London.
“I always wanted to buy. My landlord happened to be selling the place we rented, so I had to move out regardless. The rental market was going crazy at the time, and I didn’t want to go back to a shared home. I really wanted my own space.”
Why Eastman Village is the perfect choice for shared ownership in London
Derek began his search for an affordable home in London that suited his lifestyle and work needs. Since he primarily works from home, he required a quiet space with excellent connectivity to central London. After exploring various locations, he discovered Eastman Village by Hyde New Homes in Harrow.
“Since I work from home, noise was a major concern for me. I was drawn to this development because it feels quiet and very peaceful. It also has planned on-site amenities including a residents’ gym, supermarket, cafes, and restaurants, and this suits my lifestyle.”
In addition to the peaceful environment, Derek prioritized transport links and safety. He researched multiple areas, including Hounslow, Canning Town, Surbiton, and Edgware, but Harrow stood out.
“The other two big factors for me were transport into central London and safety. Harrow’s connectivity and Eastman Village’s attractive environment and affordability made it the best option. I also discovered that Harrow was in the top three safest boroughs in London.”
Choosing shared ownership in London: a smart financial decision
Derek started searching for a home in February 2024 and moved into his one-bedroom apartment with a private balcony by the end of April. Given London’s high property prices, shared ownership in London became the best route for him.
“Given my budget, my choices were either to live on the outskirts of London or to completely move out of the city. This is why I decided to pursue the shared ownership route.”
Shared ownership is a government-backed scheme designed to help people get onto the property ladder. It allows you to purchase a share of a home and pay rent on the remaining portion. Over time, you can increase your share through a process called “staircasing.”
For two years, Derek focused on saving, cutting back on non-essential spending to make his homeownership dream a reality.
“It was incredibly tough. I had to cut back on everything. Every penny counts if you’re saving for a home. Shared ownership was a game-changer. It made owning my home a real possibility. I part bought and part rent and I feel much more secure. I have equity in my home and no longer worry about being suddenly told to move. Having put down a £10,000 deposit, I bought 40% of the property.”
How Derek’s new home at Eastman Village transformed his life
Moving into his own home brought Derek an immense sense of relief and satisfaction.
“Moving out of a shared home was a great relief. I cherished the idea of having a safe space and the certainty of returning to a home that was exactly how I left it. In the past, I never truly looked forward to going home, but now I do. I even enjoy spending weekends at home, doing nothing, simply because it is my own space. At this stage in my life, I’m very focused on my career, and I didn’t want the added stress of an unsatisfactory living situation. My living environment is crucial. I wanted a place that I could genuinely call home and now I have found it.”
At the weekends, Derek enjoys venturing out of Harrow and heading into central London to meet with friends or to just explore alone. Harrow’s zone 5 location, with its various rail lines, offers great convenience. Being just 13 minutes to Euston, Derek can easily travel to central London for both work and leisure.
“The transport links are so good that I’m always in central London. Harrow on the Hill also has a lovely atmosphere, so I take advantage of that.”
Derek’s spacious one-bedroom apartment allows him to work efficiently and entertain friends and family with ease.
“The apartment has the spacious feel of a one-and-a-half-bedroom home because it’s so big. The private balcony extends the living space during the summer, providing a perfect spot for breaks when working from home. Luxurious features such as fitted wardrobes and an ensuite bathroom further enhance the comfort. My parents and friends were really impressed the first time they visited. They love the apartment as much as I do and agree this was a brilliant decision.”
Shared ownership in London: start your journey with Hyde New Homes
Ready to find a home that truly feels like yours? At Eastman Village, shared ownership makes homeownership in London more accessible, offering stylish, well-located apartments with great amenities and transport links.
Join a thriving community and take the first step toward owning your dream home. Explore our available homes with Hyde New Homes today!
