Is Shared Ownership a bad idea in my case?



New Member
Evening All,
I've got the choice of two properties at the moment:

1 - 2 bed small old 1897 build date - £168K offer accepted - no parking - good area
2 - 3 bed massive new build - £245K 100% OMV SHARED OWNERSHIP - private parking - good area
- I'd like to go with 75% £183,750 rent per month £140.36 then eventually try to stair case up to 100% either via a second mortgage, savings or future pay rises.
-- There is a service charge of £38.75 per month
-- There is a rent of £140.36 per month to pay to the HA

29 years old
Salary @ £46K - Take home £2.6K per month ish
£22K Instant ISA
£6.6K Help to Buy ISA (Inclsuive of bonus)
Couple grand in Crypto/Funds

1: I think for 1, it's a fairly simple one, I could have this house to myself but also rent a room but it'd be a squeeze. Currently doing mortgage calculations, any help would be great as comparison websites are giving me a plethora of offers and not all great.

2: The main appeals are not having to move in the long distant future if I have a family, I could sublet a room although it may have to be done without contracts/informal. As it's a new build i'm less likely to have to spend extra money and have the stresses of a survey finding gremlins. A bonus is missing out on future stamp duty.
I've been put in a corner as property one was taken off the market 3 months ago, they called and I accepted. Property two I viewed today and liked a lot of things about it but they want a response/holding feed ASAP understandably.

I am completely new to the market, first time buyer but have been looking for about 6 years now, I'm ready to crack on with live and start living in my own house. I currently rent which is dirt cheap and have lots of dispoable income when I'm not spending bits on my PC, Flight Sim, Car etc.

Any help and advice is welcomed. Bored of renting but hate being put in a corner so should I just sack them both off for now


New Member
i"m not sure about the math but I think option 2 is good. subletting also helps with the paying of the mortgage. plus, it has private parking which is good and safe.