As a first-time buyer in London, finding a starter home that fits your budget can feel like an impossible task. But the motivation to move from renting to owning can be powerful enough to make you consider alternatives to buying on the open market, like Shared Ownership.
If you’re considering buying your first home on your own, a one-bedroom Shared Ownership apartment could be a realistic way to make it happen.
Renting a room vs owning your own place
The lifestyle shift
Owning your own place means living entirely on your terms. Put the heating on when you want, fill every shelf in the fridge, and unwind after a long day without disturbance. Everyday moments feel even more enjoyable in a space you own.
It also gives you the freedom to decorate as you wish – no landlord dictating the colour scheme or whether you can hang pictures on the walls.
On the other hand, renting a room in a house share can feel restrictive. Constantly compromising and sharing spaces can take its toll, leaving you craving the independence and privacy that comes with buying a home on your own.
Designed for contemporary living
At Newlon Living, we develop new-build Shared Ownership homes in London with a high specification. We thoughtfully design each one-bedroom apartment around daily life: open-plan kitchen and living areas give you flexibility to relax, work and host, all in a space that’s easy to maintain. And because everything is brand new, you can move in straight away without the cost of immediate repairs or renovations.
How Shared Ownership can help you buy a one-bedroom flat in London
The price point
A one-bedroom Shared Ownership apartment offers a more accessible price point than a comparable property on the open market. Because you’re buying a share, your deposit is based on that share value, so the upfront cost can be significantly lower.
It’s also worth noting that rent on the remaining share is charged below market rate, and the government caps rent levels and annual increases to help keep costs manageable.
For estimates of the monthly mortgage and rent payments on a Shared Ownership home, try our affordability calculator.
The financial reality
When you’re renting a room in a house share, your hard-earned money goes straight to a landlord with no return. Buying your first home changes that dynamic – your monthly mortgage repayments build equity in your home rather than someone else’s.
There are no unforeseen rent increases, and a fixed-rate mortgage means your monthly repayments stay consistent. You’ll also know exactly when your fixed rate ends, at which point you can remortgage onto a new deal if you wish.
Makes it possible to buy a home in London
Property prices in London can make buying a home on the open market feel out of reach. ONS data from January 2026 puts the average first time buyer home price in London at £472,000. As lenders usually require a minimum deposit of 10%-20%, that means finding at least £47,200 upfront – an amount that can take years to save.
Buying through Shared Ownership in London can significantly reduce this cost. For instance, at Cassia, you can buy a 30% share (worth £108,000) in a one-bedroom flat with a £10,800 deposit. It offers a way to buy a home in the city you love on terms that fit your financial circumstances.
Grow your ownership over time
Through staircasing, Shared Ownership gives you the option to increase your share gradually, moving towards full ownership if or when it makes sense for you.
The more you own, the less rent you pay on the remainder. Staircase to 100%, and you’ll own your home outright with no rent to pay.
Discover starter homes from Newlon Living
For many first-time buyers, a one-bedroom apartment is a realistic and manageable starter home. Shared Ownership makes taking that step more accessible, with lower upfront costs and the option to grow your ownership at your own pace.
If you’re ready for more independence and stability, read our tips for solo living for the first time, and explore the one-bedroom apartments at Cassia in Oakwood to see what your first home could look like.
