What has caused the shift to a more lifestyle-focussed approach to home buying is up for debate, but not many people consider a share of freehold purchase when it could be provide the perfect lifestyle for you!

There is no question the way we live our lives is evolving, with different needs and desires depending on your stage of life, financial situation and location. As a nation, it has become clear, we are focussed on convenience, with a growing importance towards health and well-being, not forgetting our environmental impact. A good agent will take a genuine interest in your day to day to gain an understanding of what is important to you, so that they can find you the right house. By acknowledging that property purchases are not all down to the structure or price per square foot (although budget is key), they will be able to find you a home that is perfect for your lifestyle.

First of all, what is a Share of Freehold?

Purchasing a property with a share of freehold means you will own the leasehold of your property and a share of the freehold for the land and building the property is positioned in.

It is mostly associated with apartments but can relate to houses as part of a larger estate.

Commonly, share of freeholds are set up as a limited company with a minimum of 4 directors. The company would be registered as the freehold owner with you and your co-owners being the shareholders and directors of the company.

How could this be a better way of life I hear you ask? On the surface it may seem confusing, however, when you delve into the benefits all seems to be become clear!

Our Desire for Convenience

Modern life is fast-paced, and people are busier than ever before. With careers, social activities, and family responsibilities, we are seeking convenience in our daily lives. Share of freeholds often offer amenities like on-site fitness centres, green spaces and communal areas, providing residents with everything they need on their doorstep.

Most share of freeholds have extensive grounds that are maintained regularly to ensure no defects and to remove any health and safety risks. Whether that be regular gardening, to painting of the façade of your house, or driveway repairs, it means that you do not need to worry about any external maintenance. Saving you time and energy to do more of what you love!

Community and Social Interaction

A sense of community is vital for many homeowners today. We want to live in neighbourhoods where we can build connections, foster relationships, and engage in communal activities. By purchasing a share of freehold, you will have access to shared spaces, communal gardens, and social events, creating more opportunities for residents to interact and form bonds.

Interaction between shareholders and directors is as often as you would like it to be, meaning the social element is completely flexible depending on your lifestyle.

Health and Wellness Focus

Wellness has become a top priority for individuals and families. Homebuyers are looking for properties that promote a healthy lifestyle. This includes homes with access to nature, walking trails, and outdoor activities. Most estates with share freehold are able to offer extensive grounds and sometimes features like yoga studios, spas, and meditation gardens, recognising the importance of physical and mental well-being.

Work-Life Integration

COVID-19 accelerated the trend of remote working, leading many to revaluate their living arrangements. We are now seeking properties that cater to our work-from-home needs. Homes owned by a share of freehold, often have dedicated office spaces, high-speed internet, and co-working areas, which are highly sought after, allowing residents to seamlessly integrate work and life.

Sustainable and Eco-Friendly Living

Environmental consciousness is on the rise, and this extends to home buying decisions. We are becoming increasingly interested in eco-friendly homes with sustainable features such as solar panels, energy-efficient appliances, and green building materials. Living in a sustainable community aligns with the values of many modern homeowners who want to reduce their carbon footprint.

As a share of freehold director, you are able to take steps with your fellow co-owners to jointly improve your carbon footprint and spread the costs between all households. What can sometimes seem expensive and unrealistic, can be achievable when shared. Normally, action can be taken more swiftly to get improvements completed much quicker than a normal leasehold, eventually saving you money in the long term.

In summary…

In the ever-evolving landscape of homeownership, the focus has shifted from merely owning a house to embracing a complete lifestyle. A share of freehold purchase could facilitate your lifestyle better, especially if you are short of time and would love to have the benefits of living in an extensive estate without the need to personally carry out all of the upkeep.

Whether it’s the desire for convenience, a sense of community, a focus on health and wellness, or a commitment to sustainability, modern homeowners are looking beyond bricks and mortar to find a home that offers them the lifestyle they crave. As this trend continues, it’s likely that the property market will see further options for purchase to become more prominent in the future.