Affordable Canalside living helps Jodie secure a beautiful future
It wasn’t always like this. For ten years Jodie had been living in shared houses in London. The 29 year old was tired of it, she wanted a space of her own, but, as a publicist for a small independent record label in the notoriously underpaid music industry, she knew it would be another 10 years before she could even think of getting a place of her own in the capital.
Then, last autumn, she did what all wise girls do, she listened to her mother, who advised her to look into New Build HomeBuy, a part-buy, part-rent home ownership scheme.
“I found the Housing Options website and registered online. Then I got an email to say I had been accepted,” says Jodie. “Obviously I was very pleased to find that you don’t have to be a key worker to apply and buy.”
“Once that happened I registered with every single shared ownership scheme I could find, I thought if I’m going to do this I’m going to do it properly and I did loads of research.”
Jodie started to get offers over email but nothing that truly excited her. Then one day she got a brochure for Bolt House, new build Canalside apartments that form part of the revitalised and regenerated Canalside Housing Partnership development in London’s N1 postcode, close to London Fields where Jodie was living at the time.
The brochure stood out, not just because it was the only offer that arrived in the post but also because it invited her to view the show home with people from affordable home ownership provider, Metropolitan Home Ownership (MHO), who were marketing the homes on behalf of the Canalside Housing Partnership .
It was a key decision. Meeting the MHO team and finding out lots more information about the flat gave her peace of mind.
“Also they had a really, really good independent financial advisor there,” says Jodie. “He was one of the most helpful people throughout the entire process. I was able to talk to him there and then about how much it would cost.”
Jodie was advised that she could probably afford to buy 40 per cent of her £230,000 home but it would be a stretch so instead she has opted for 30 per cent and is hoping for a pay rise next year so she can buy another 10 per cent.
Buying further shares like this is known as staircasing and she’s confident she can do it – even the credit crunch hasn’t fazed her.
“I am paying £200 more than what I was paying when I was renting but I get to own 30 per cent of it. I am slightly concerned about the credit crunch and house prices but at the end of the day this was still the best decision for me.”
Most important of all she’s loving her new lifestyle.
“It’s made me discover the local area, I’m cycling a lot and it feels like it’s really a creative area. I’ve also joined the gym, which is two streets down. Maybe the move has improved my health.
“Also there’s a nice bunch of people in the building. Meeting people was easier because everyone moved in at the same time and everyone is a first-time buyer so we’re all in the same situation.”
The only real worry Jodie had with living in an apartment on her own as a woman, was security. But that concern doesn’t exist as the block is protected by a fob system and there are two keys needed to get into her flat.
“When I walk through the door of my home I feel happy not to be living in a shared house, I feel happy that I’ve got a foot on the property ladder. I feel like I’ve accomplished something.
“This is one of the best decisions I’ve made in a long time.”