Buying a home in a new build estate is a great way to get started on the property ladder. The allure of freshly-painted walls, untouched kitchens, and that delightful 'new house smell' is undeniable. However, the costs involved can be a significant hurdle for many potential homeowners looking to settle down. Thankfully, there are affordable routes into the property market without the prohibitive price tag. This article delves into shared ownership as a viable option for buying on a new build estate.

Shared Ownership: Affordable Buying Options on New Build Estates

Shared ownership is a government-backed scheme designed to make homeownership more accessible in England. It allows you to purchase a share of a property (typically between 25% and 75%) and pay rent on the remaining percentage owned by a housing association. Over time, you can purchase additional shares – often until you own the property outright – however there may be caps. This model might seem a little confusing at first, so we’ve created a handy guide to help you better understand how it works.

How Shared Ownership Helps First-Time Buyer

Shared ownership schemes offer a myriad of advantages that can make them an attractive option for those considering buying on a new build estate. Here are some noteworthy benefits:

Lower Financial Barrier to Entry

Lower deposit requirements and the option to buy a partial share make it feasible for many who otherwise might not afford homeownership.

Incremental Investment

The ability to 'staircase' your ownership percentage over time means you can start small and gradually invest more as your financial situation improves.


You can usually decide to sell your share at any time, or buy additional shares when you're financially ready, allowing for greater control over your investment.

Quality of Living

The new build developments offered by Sanctuary include shared ownership properties that offer the same high-quality finishes as the properties sold outright. That means you’ll have a chance to enjoy a better quality of living without having to deal with the financial strain.


Unlike renting, shared ownership gives you a financial stake in your property, providing long-term security.

Lower Monthly Costs

Typically, the combined cost of mortgage payments and rent for the remaining share is often comparable to, or cheaper than, renting a similar property outright.

Eligibility Criteria for Shared Ownership

Although shared ownership is an excellent opportunity for many, it's important to note that there are eligibility criteria for this scheme. These generally include:

• You must be at least 18 years old.

• Your household income can’t exceed £80,000 per year (or £90,000 per year in London).

• You wouldn’t be able to buy a home that suits your needs without help or assistance.

 You can’t currently own another property (or be named on the deeds). If you do own a property, you must have it sold STC and be able to prove that you cannot buy another home outright without the support of the shared ownership scheme.

• You must have a clean credit history.

Picking the Right New Build Estate

Location and amenities are essential factors to consider when choosing a new build estate. Sanctuary developments include shared ownership properties in their plans, with the same high-quality finishes to those sold outright. For example, Green Vale offers a variety of 3 and 4-bedroom homes through shared ownership. This means you don't have to compromise on quality to achieve affordability.

Is Shared Ownership Right for You?

Shared ownership is a compelling option for those looking to buy and enjoy all of the perks of a new build. It presents an opportunity to step onto the property ladder, offering a compromise between renting and full ownership. By doing your research and understanding the pros and cons, you can decide whether shared ownership is the right path for you.

If you have any questions about shared ownership or would like to find your forever home using this scheme, get in touch with our friendly team at Sanctuary today.