I am thinking of buying this council house, we have been living here for like 27 years and i am in a stable job, has anyone done this and got a house quite cheap?, does an house inspector have to come round to inspect it etc?
Anyone bought there council home?
- Thread starter Dickyb0b
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My gran brought her house that was a council house a few years ago. I think it was just a case of contacting the council. It would have been silly for her not to purchase it tbh i think it cost about £17,000 and its not worth at least £140,000.
Your landlord will have the property valued either by their own in house valuer or by whoever they contract to provide the valuation.
Assuming that you meet all the criteria you will be offered the property at the market value less the discount.
If you think your landlord has valued your home too highly you have a right to an independent valuation from the District Valuer. But you have to accept his valuation, even if it is higher than the landlord’s.
If you have been the tenant for 27 years you should be entitled to a 57% discount (35% for the first 5 years and an extra 1% per annum thereafter) subject to the recently increased maximum of £75,000.
If you sell the property within 5 years you have to repay a proportion of the discount.
There are many other rules regarding Right to Buy so you need to fully research the matter or take some professional advice.
Assuming that you meet all the criteria you will be offered the property at the market value less the discount.
If you think your landlord has valued your home too highly you have a right to an independent valuation from the District Valuer. But you have to accept his valuation, even if it is higher than the landlord’s.
If you have been the tenant for 27 years you should be entitled to a 57% discount (35% for the first 5 years and an extra 1% per annum thereafter) subject to the recently increased maximum of £75,000.
If you sell the property within 5 years you have to repay a proportion of the discount.
There are many other rules regarding Right to Buy so you need to fully research the matter or take some professional advice.
It sounds like it was purchased more than "a few years ago".
Either that or someone got their numbers wrong.
The maximum discount was reduced to between £16,000 and £38,000 depending on where the property was located.
Recently it's been increased again to a maximum of £75,000.
It still goes on.
Although the tenant is the only one allowed to buy the property it's quite often paid for by someone else.
I don't know much about council houses so can someone explain how it helps the country to sell of assets at upto 75k under market value?
Also if someone has a stable job like the OP I assume they can afford to rent so why would they get a council house?
Also if someone has a stable job like the OP I assume they can afford to rent so why would they get a council house?
If I am correct it was about 7 or 8 years ago. Since I know my grandad was still alive when the house was purchased.
You don't say where the property is but assuming the West Midlands then its value in 2004/5 wouldn't be much different that the £140,000 you say it's worth today.
Up until recently the The Housing (Right to Buy) (Limits on Discount) Order 1998 was in force limiting discounts in the West Midlands to a maximum of £26,000.
£17,000 seems a very small sum to have paid considering the maximum discount available.
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One more incentive to be ****less. Where do they get the money from to buy these places since they need social housing. RTB is a big FU to any hard working person /rant
. Nope not in the midlands it was in the south west. I know my Dad had to get involved as a guarentee for the mortgage since my grandparents were old and they both changed there wills at the same time to leave 50% of the house to my dad if one of them was to pass away to prevent the council from selling it if my grandparents had to go into a home or anything. I suppose it might have been a year or two before I said above but I know it was around this time becuase I met my wife so it was within the last 10 years of that I am certain.
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in my opinion you should be in social housing because you are poor and can't afford any other option, if you can afford to buy your council home then go and buy a house or rent privately
Also you shouldn't be able to buy your council house as that reduces the stock of social housing, so people who might actually need your house can't because you have taken it away from the council, and we all know they don't build anymore
Also you shouldn't be able to buy your council house as that reduces the stock of social housing, so people who might actually need your house can't because you have taken it away from the council, and we all know they don't build anymore
The maximum discount in the South West was £30,000 from 1998.
If they bought this £140,000 house for £17,000 in the last 10 years then something is amiss.
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I remember my Nan lived in a flat in Bethnal Green since 1958 which she had to pay a small rent for. She could have bought it for £10,000. My dad, seeing this could be a good legacy for the grandkids, asked if he could give her the money to buy the flat. She could live there rent free for the rest of her life.
She refused. her reasoning was that if anything went wrong like the boiler or something, the council would come straight out and fix it. Thing is, my Dad assured her that he would get any problems fixed straight away as well. She still refused, died a few years later and now the flat has got a load of immigrants in it. It's market value now is around £240,000.
I know some of you may think we were just looking out for ourselves, it's just that seemed like a huge waste of money not to buy the flat, and it has proved so.
I cant be doing with all the self righteous moral **** of people not being able to buy their council houses as it reduces stock. Years back, maybe there was a point, but now, you're council home is going to go to immigrants, asylum seekers or lazy no-gooders who just can't be bothered to get a job and prefer to leech.
She refused. her reasoning was that if anything went wrong like the boiler or something, the council would come straight out and fix it. Thing is, my Dad assured her that he would get any problems fixed straight away as well. She still refused, died a few years later and now the flat has got a load of immigrants in it. It's market value now is around £240,000.
I know some of you may think we were just looking out for ourselves, it's just that seemed like a huge waste of money not to buy the flat, and it has proved so.
I cant be doing with all the self righteous moral **** of people not being able to buy their council houses as it reduces stock. Years back, maybe there was a point, but now, you're council home is going to go to immigrants, asylum seekers or lazy no-gooders who just can't be bothered to get a job and prefer to leech.
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