Escaping the rent trap: How Shared Ownership helped Ellie take control of her life
Growing up nearby to Sittingbourne and spending her early-twenties in London, 25-year-old finance professional Ellie Raycraft never imagined she’d become a homeowner as she crossed the halfway line of her twenties. However, after spending several years navigating the rental market, Ellie discovered Shared Ownership at Hyde New Homes’ Spring Acres development in Kent. As a result, homeownership became a reality sooner than she ever expected.
After discovering she was eligible for Shared Ownership, Ellie moved back in with her mum to reduce her outgoings. This allowed her to build up a deposit and reserve a home at Spring Acres more quickly.
“I hadn’t seriously considered homeownership until then and, to my surprise, I was not only eligible, but it was totally affordable. Because I was only buying a 25% share of the property rather than the full 100%, I only needed a 5% deposit on that share, making the upfront cost much lower than buying outright.”
With Shared Ownership, buyers purchase an initial share of a property and pay a subsidised rent on the part they don’t yet own. As a result, buyers can step onto the property ladder with a smaller deposit. Over time, they can purchase additional shares through a process called staircasing, right up to full ownership.
Why Spring Acres was the right choice
Ellie wanted both the neighbourhood and apartment she chose to feel spacious, and to embrace a place with a lasting community feel. Working from home for half the week, she particularly wanted somewhere with enough room to create a work/life division.
“Other developments I had viewed felt overlooked. Spring Acres was smaller in scale and more considered. There is real green space around it, with plenty of families living there and a genuine sense of community. ”
Ellie is also relishing the freedom of finally having a place of her own, especially when it comes to hosting friends, something she really missed while living at her mum’s.
“The thing I loved most about the apartments was the space! Even, now whenever I have friends and family over, that’s what they remark on. “I had friends over to watch Eurovision and went all out with a fabulous buffet for everyone. It was such a fun night and made me realise how much I’d missed being able to bring people together.”
“Having purchased independently at 25, it very much feels like an accomplishment. That’s the most exciting aspect, the feeling of having security, independence, and a comfortable space that is truly mine.”
The Hyde Difference
Hyde has been building homes across the South East of England for nearly 60 years, from Kent through to London and along the Sussex Coast.
Every Hyde home is built to the Hyde Difference standard, which includes:
- Contemporary kitchens with integrated appliances
- Quality flooring as standard
- Built-in wardrobes and ensuites at selected developments
- Outdoor space
- Guidance from our experienced in-house sales team
This high level of specification and customer support has resulted in over 90% customer satisfaction for 13 years running and a Net Promoter Score™ of 71.9.
Learn more about Shared Ownership
Start your Shared Ownership journey with Hyde New Homes
Ready to find a home that truly feels like yours? Join a thriving community and take the first step toward owning your dream home. Explore our available homes with Hyde New Homes today!
