The Top Benefits of Staircasing in a Shared Ownership Property: Take the Next Step to Homeownership!
Are you ready to take your shared ownership property to the next level? Staircasing — the process of buying more shares in your property until you own it outright — can open the door to a range of exciting benefits. In 2020/21, approximately 4,300 households staircased to 100% ownership. Whether you’re thinking about financial freedom, the opportunity to make alterations, or the chance to reap more rewards when it’s time to sell, staircasing could be your perfect next step. Here’s why:
Pay Less Rent — Or No Rent At All!
One of the most immediate benefits of staircasing is the potential to pay less rent. As you increase the percentage of your property that you own, your rent payments will decrease. For example, if you decide to staircase to 100% ownership, you will no longer pay rent. The only costs remaining will be your mortgage payments (if applicable), service charges, and any ground rent (if applicable).
Think of it this way — the more of your home you own, the less you’re paying for living in it.
Benefit from Home Improvements
Once you own your property outright, you can take full advantage of the value you’ve added through any home improvements. The UK home improvement market was valued at £11.2 billion as of 2024. Whether you update the kitchen, added an extension, or upgrade the bathroom, all the profit from these improvements will go straight into your pocket when you sell your home. This is a great way to make the most of your investment and ensure that you can cash in on the added value.
Potential for Increased Profit When You Sell
When you decide to sell, the greater percentage you own, the greater the profit you’ll make if your property’s value has increased over time. If you’ve staircased to 100%, you’re selling 100% of the property — meaning a larger share of the home’s appreciated value is yours. In today’s property market, this can be a significant advantage, especially if you’ve been fortunate enough to buy at a time when prices are rising.
More Mortgage Choices
If you staircase to 100% ownership, you can unlock access to a wider range of mortgage options. At that point, you can switch to a standard mortgage with lower interest rates, which could mean lower monthly repayments than your current shared ownership mortgage. Plus, the reduced rent payments (or the complete elimination of rent) could leave you with more disposable income, making it easier to manage your finances.
Freedom to Make Alterations
According to an analysis of Pinterest user data, new bathrooms are one of the most popular home renovation trends for 2025, with a staggering 89,000 pins across 376 unique boards. One of the main benefits is that once you’re the full owner of your property, the rules change! Subject to planning permissions or other restrictions stipulated in your lease or the location, you’ll have more freedom to make alterations to your home.
Renting Your Property — Once You Own 100%
Thinking about renting out your home for extra income? This is only an option once you have fully staircased to 100% ownership. Until you reach this point, subletting is not permitted under the shared ownership lease. But once you own the property outright, you’ll have the freedom to decide whether you want to rent it out or even move elsewhere. You will still have to inform Love Living if you are renting it out or leaving the property and provide a correspondence address etc. You will still remain responsible for any remaining costs associated with the property.
Take the Next Step and Prepare to Staircase
Staircasing isn’t just about the financial benefits — it’s about taking control of your home and securing your future. If you’re ready to pay less rent, enjoy more mortgage options, and make the most of your home, it could be time to start thinking about staircasing.
Are you ready to start your journey towards full ownership? Start the process and follow our staircasing guide. Begin the process and learn more on how you can take the next step in your homeownership journey. The key to your future home is in your hands!