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Ince Shared ownership is a great scheme that allows you to purchase a portion of a home, say 25% or 50%, and pay rent on the remaining share that you don't own. This means your mortgage and rent payments combined will likely be much lower than trying to buy outright. Eventually, you could own the whole thing free and clear. I was browsing listings in the Chester recently and came across some lovely Ince new builds available through shared ownership. There's a development of two bed terraced houses just outside priced from value for a 40% share. That works out to a mortgage of around £300 a month. Then add rent of £200 for the remaining 60% and your monthly costs are super reasonable. The homes themselves are beautiful too modern kitchens, landscaped gardens, and good sized rooms. What I think makes shared ownership an even smarter choice is the flexibility it allows. If you're not ready to fully commit to an area yet, it's less risky than a traditional mortgage. You also have the freedom to move up to a different property through the scheme if your situation changes. Ince should you ever need to sell, the housing association will buy back your share making it less of a hassle. Ince Shared ownership seems like a great halfway stepping stone for those who qualify.
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