A number of companies in Northern Ireland provide “rent to buy” schemes. Only one of these is backed by the government. This government-supported scheme is managed by Co-Ownership Housing Association. This scheme gives people an opportunity to move into a new build home as private tenants with an option to purchase the property.
Shared ownership schemes allow someone to own a portion of a property and to rent the remainder from a housing association. For years, Co-Ownership Housing has been the best known scheme for people who want to buy a home but who cannot afford to purchase 100% of the property they’re interested in.
If you are interested in buying a new build home, but don't have enough money saved up for a deposit yet you should look into the Rent to Own scheme for Northern Ireland. It gives potential purchasers a three year tenancy of a new build property and then issues a 25% rent rebate to the tenant if the tenant decides to buy the property at the end of their tenancy.
The process for selling a home is generally the same for all people, whatever the reason for the sale. Most people will use an agent to market the property and you will have to pay a fee for this. You can sell your home privately but it can be harder to find buyers this way.
You can start your research by checking out property websites online. This will give you an idea of the properties within your budget that are available in your area. Visit estate agents in the area that you want to live in, but remember that agents are working on the seller’s behalf and are trying to get the highest possible price for the property.