A new startup based in the U.K., StrideUp, allows homebuyers to purchase a portion of their home and rent the remainder.
“Our typical customers are first time buyers in their mid/late 20s to late 30s. They have spent five-plus years renting and want to get on to the property ladder but traditional mortgage finance is unable to bridge the gap between where they want to live and what they can buy,” says founder Rohan Trivedi, per TechCrunch.
Shared ownership — where you and your landlord both own a percentage of the home you live in — is one solution to this problem. As and when you can afford to purchase more, you increase your stake at the current market valuation (and, in turn, reduce your rent), until eventually you own the home outright or can secure a conventional mortgage to do so.
Advertisement
Related Stories
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency
Design
What Gen-Z Buyers Really Want in a Home
The fervor of planning for Millennials in the home building industry has now pivoted to Gen Z. So, what does this new generation want?
Building Materials
Lumber Leads Building Materials Prices Higher in March
Overall, the cost of building materials rose during March, with softwood lumber, gypsum products, and concrete all seeing price increases. Only steel mill materials saw price drops