I’m Elsa—I'm a freelancer working across theatre, arts, and media. Five years ago, I made a decision that completely changed my life: I bought my first home through a shared ownership scheme in Thamesmead, London. Now, I’m selling it to move into a bigger space, but looking back, I wanted to share my experience—what I learned, what I loved, and whether shared ownership was worth it.

A lot of people ask me: “Is shared ownership a good idea?”

For me, the answer is yes—but with some important lessons I wish I’d known earlier.

Why I Chose Shared Ownership

I was in my early twenties when I started looking for a place of my own. I’d been freelancing for years, and the idea of owning anything in London felt far off. But I didn’t want to overstretch myself or take on a huge mortgage.

Shared ownership offered a different route. I only needed a small deposit to buy a 25% share of a brand-new one-bedroom apartment in a development called The Reach, completed just before I moved in. The rent on the remaining share was around £628 per month, and the service charge was £168—manageable, and more stable than renting privately.

Buying during lockdown added a twist. Everything was digital—even collecting the keys. I didn’t get the usual walkthroughs or introductions to how the heating worked. I had to figure it all out on my own. But despite that, I was just so proud to call it mine.

Thamesmead Is A Hidden Gem

Growing up in southwest London, I never imagined I’d end up in Thamesmead. Honestly, I had some preconceptions. But when I saw the area—its greenery, its peacefulness, the lake around the corner—I knew I had to reconsider. I walked over the river, and two years after moving in, the Elizabeth Line was up and running. Now I can get to Tottenham Court Road in 20 minutes. That’s unheard of.

What makes Thamesmead special is its balance. I have city access, but I’m surrounded by water, trees, and open skies. I can walk along the Thames and see Canary Wharf from my road. It’s like getting the best of both worlds—urban energy with a riverside calm.

Over time, friends who visited were surprised too. “This is Thamesmead?” they’d say. It’s one of London’s best-kept secrets, and I genuinely think it’s an area to watch.

The Lessons I Learned Along the Way

Looking back, there are a few things I wish I had done differently.

If you're thinking about shared ownership, please do your research. Ask yourself:

• How long do I plan to stay here?

• Do I want to staircase (buy more of the property)?

• Would I consider renting it out in the future?

• Am I happy to pay rent and service charges alongside my mortgage?

  
  

I didn’t have all the answers at the time—I just knew I wanted a home. And while I don’t regret my decision, I would advise others to go in with a plan.

Also, choose your solicitor carefully. Mine wasn’t great, and I had to chase them constantly. A good solicitor can make a huge difference to how smooth (or stressful) the buying process is.

What I’ll Miss—and Why I’m Moving On

The flat itself? I’ve loved it.

It’s peaceful, with triple-glazed windows that block out all sound. The south-facing balcony has beautiful views of greenery, and the communal spaces are just for residents. It really feels like a little pocket of calm in the city.

But after five years, I’ve grown. I’ve accumulated more stuff, and I just need more room. I’m looking for a two-bedroom flat or maybe even a house (fingers crossed!)—ideally still in this area, because I truly love it here.

So… Is Shared Ownership a Good Idea?

For me, yes. It gave me a way in.

It wasn’t perfect. There were challenges. But it was the right first step. I learned a lot, I built equity, and I had the stability of a home that was mine. And now I’m in a position to move up and move on—something I wouldn't have been able to say without shared ownership.

If you’re thinking about it, I say: do your research, ask questions, and trust your instincts. With the right mindset, shared ownership can absolutely be a good idea.

It's Time to Move

My flat is now available to purchase —a perfect home for another first-time buyer or someone seeking a peaceful residence in a thriving part of London.

The Reach, Thamesmead