Manny, a 29-year-old Head of Chemistry at a London school, recently achieved what many young Londoners find increasingly out of reach; homeownership in a challenging property market.
Having experienced difficulties when searching for reliable housing in his late teens, Manny was acutely aware of the rising cost of housing and the challenges it creates but this only made him more determined to gain stability and buy a place his own.
Through affordable housing developer Pocket Living, a company founded to help home-ownership become a reality for London’s first-time buyers, Manny was able to turn his dream of owning a home into a reality by purchasing a one-bedroom apartment at Forest Road E17 in Walthamstow.
Manny explains his story:
A story of resilience and determination
Growing up in Hackney, I witnessed first-hand as house prices across London continued to climb, and, at times, it felt like I would never be able to afford my own home. This was particularly the case as I saw families displaced to make way for expensive new developments, and ended up having to navigate long waiting lists for housing support.
My own experience of destitution and the challenges that came with finding reliable housing also made me acutely aware of the struggles faced by those without a place to call home, but this only made me more determined to find a space of my own.
Re-evaluating options during challenging times
Initially, I considered renting with friends. However, I quickly realised that, for me, renting meant pouring money into a property without ever accruing equity, and, during the Covid-19 lockdown, I started having conversations with friends about the growing disparity between rent and mortgage costs and began to rethink my options.
However, this also came with new challenges, like raising enough money for a deposit. I starting saving as soon as I graduated from university seven years ago, but as a new teacher, my starting salary was pretty low. This meant that I had to make a number of sacrifices, cutting back on social outings and travel plans while living at home with my mum and sister.
At one point I even considered moving out of London. My mum suggested Birmingham where she knew someone doing quite well for themselves. However, this would have meant changing jobs and uprooting my entire life just to afford a property.
As a teacher, moving outside London posed its own challenges, including lower wages and potentially a longer path to saving for a deposit. I felt stuck, thinking I had to leave London to buy a home but after taking the time to explore my options, I realised that there were more affordable alternatives.
That’s when I discovered Pocket Living, whose innovative and affordable approach to housing made the idea of homeownership feel more realistic.
Finding a home in Walthamstow
Pocket provides a viable solution for first timers, offering a 20% discount on their homes compared to other similar properties in the area, but other than the discount, I think what really attracted me to the Pocket development was their focus on sustainability and the community. They really think about how residents can interact with each other in a more positive and meaningful way.
As a whole, all of these factors made the idea of buying through Pocket Living even more appealing and ultimately led me to choose a home that suits both my lifestyle and future goals.
I therefore purchased a one-bedroom apartment at Forest Road E17 through Pocket Living in the vibrant neighbourhood of Walthamstow, an area brimming with energy and charm, blending diverse cultures, arts, and community activities.
Since moving in, I’ve been able to put my own personal stamp on the place. It’s been such a nice feeling to be able to invite friends and family over for dinner parties and game nights, and also host the other residents at the development too.
I’ve hosted and attended quite a few housewarming parties, but still have a few more planned. So far, my favourite was when another Pocket resident hosted an open air jazz night on the roof terrace. Seeing everybody together, listening to music and watching the sun set over East London was very surreal.
I also love having a space where I can do my own thing and it’s nice to know that I can run my tutoring sessions without feeling like it could be interrupted at any point.
I’ve also really liked the proximity to the park, and the influences within the development from the William Morris Gallery across the road but my favourite place has to be the Walthamstow Wetlands, which you can get to via Blackhorse Road.
On the way there you pass the market where there’s an array of multicultural cuisines that reflect the area’s rich diversity. Ultimately, it’s the strong and vibrant community spirit that has truly made Walthamstow a place I’m proud to call home. There’s still plenty more exploring to do as we’re also lucky to have Lloyds Park and quite a few famous parts of Walthamstow really close to us so I haven’t actually ventured out as much as I should have, but I’ve got lots of time to do so.
For work, it’s only a 20-minute cycle, and the area’s excellent public transport links make it so easy to get around, with Liverpool Street also only about 20-minutes away via public transport.
It really is the best of both worlds in a sense that the commute is very easy into town and you’re also very lucky that you’re close to all of the nature that you can quickly escape to.
A smooth homebuying experience
The process of buying a first home has its complexities, but I was fortunate to have lots of support. A friend who had previously purchased a Pocket home guided me through the process, and Pocket’s team provided invaluable resources, including a step-by-step guide and a responsive customer care team.
When I received the keys, the moment was overwhelming. I stood in my new apartment, looking out the window and had a little cry, just thinking, wow I actually live in my own place. It was a very proud moment for me, especially looking back at my story, and knowing that there was once a point where I didn’t actually have a place to stay.
Reflecting on the journey
The decision to buy with Pocket Living wasn’t just about finding a home; it was an investment in my future. Knowing that I am building equity rather than paying rent has been incredibly empowering. My apartment symbolises independence and stability and serves as a milestone that reminds me of how far I’ve come.
Reflecting on my journey, I feel incredibly grateful and empowered. There was a time when I didn’t have a permanent place to stay, but today, I own a home in London.
My story is a testament to the power of determination and the importance of affordable housing solutions.
Pocket Living has shown me that homeownership doesn’t have to be out of reach. For anyone feeling trapped in the cycle of renting or uncertain about their ability to buy, I hope my story offers inspiration.
With the right support and a clear goal, homeownership can be more than a dream, it can be a reality.
To be eligible to purchase a Pocket home at Forest Road E17, the prospective buyer can’t already own another property, and must live or work in London. All buyers must earn under the Mayor of London’s income threshold for affordable housing (currently £90,000). When the homes are sold on, new purchasers must meet the original criteria including a household income below the Mayor of London’s affordable housing threshold.
Buyers own 100% of their property, which are sold at a 20% discount to the local market.
For more information or to register interest, prospective buyers can visit www.pocketliving.com or call 020 7291 3683.