Shared Ownership meant I could live in my dream location – and own a home there!

Having rented for most of his life, Sam Awad, a product designer for BT (39), had become fed up with paying monthly outgoings that didn’t contribute toward owning a home. Seeing yet another significant rent increase on his previous home in Canning Town, Sam decided it was time to purchase a home of his own.

Sam, who has purchased a 25% share of a two-bedroom apartment at L&Q at Elephant Park, comments “I’d been living in Canning Town for a while, when my landlord massively hiked up my rent. I knew that it was time to start thinking about purchasing my first home, and wanted to start researching my options whilst saving as much as I could. It was then that I decided to move in with a friend of mine to cut back on my spending – so I packed up from my flat and did exactly that.”

As soon as Sam moved in with his friend, he immediately started researching what options might be available to him, with a wish list of priorities for his new home. Sam explains “Whilst I was staying at my friend’s house, I started thinking about the locations I’d want to purchase in, and Elephant and Castle really stuck in my mind. I’d always passed through the area and thought it would be a dream to live in such a central location, but I truly thought I might not be able to afford it.”

With the location becoming more of a non-negotiable, Sam started researching homes in Elephant and Castle, to get a feel what for what was on the market. At around the same time, a friend of Sam’s had mentioned Shared Ownership, explaining to him what the scheme offered for buyers like him. Sam comments “I had vaguely heard of Shared Ownership, but it wasn’t something I’d really looked into too heavily. However, once my friend explained the pros of the scheme, I knew that Shared Ownership was the product that was going to help me purchase a home.”

Sam continues “From there, I researched the scheme a lot, and knew just how rare finding a Shared Ownership home in Zone 1 could be. It was then that I discovered L&Q Elephant Park, and I instantly knew it was meant to be. While the location had always been a driving factor for me, the more I Researched the Shared Ownership scheme, the more I understood the pros and cons, and I realised that it’s something that I want to pursue.”

Sam booked an appointment with the L&Q at Elephant Park sales team, and as soon as he visited the development, he discussed next steps with the team. Sam comments “I knew almost immediately that this was where I was going to buy. I visited the development on the Saturday, and put the reservation fee down on the Monday. I was so eager to start the process that I got my booking form straight away, and actually chose my home over the phone! From there, the process was really speedy and the L&Q team were extremely accommodating. I moved in on the 1st April so it took around 3 months in total – and I couldn’t be happier.”

He continues “Purchasing a new build has been incredible – from the get-go, everything was available. The building had already been completed and to such a high standard, and I was ready to move in pretty much immediately.”

When discussing his new home, Sam details some of his favourite parts – “I’m a really big fan of an open plan layout, so for me L&Q’s homes were close to perfect. I chose one of the apartments that overlooks the garden, so the view is lovely. The communal gardens are a great place to go and enjoy the outdoors.”

Sam continues, talking about his new neighbours “The community here is really nice. I was quite quickly added to a WhatsApp group of other homeowners at L&Q at Elephant Park, and we all meet up sometimes and have a nosey inside each other’s homes!”

Looking to the future, Sam sees himself staying in Elephant and Castle for the foreseeable. He explains “I don’t see myself leaving anytime soon. L&Q at Elephant Park is my home, and I love it here! I’d love to staircase as and when the opportunity arises, but for now, I’m enjoying my new place.”