Associate
I think you get a circa 30% discount in light of the fact that the rent has been paid to the council for awhile, in some areas ex council property is worth around £200k or more for a 3 bed semi.
Anyone bought there council home?
- Thread starter Dickyb0b
- Start date
I think you get a circa 30% discount in light of the fact that the rent has been paid to the council for awhile, in some areas ex council property is worth around £200k or more for a 3 bed semi.
The amount of rent paid has nothing to do with how much you pay for a property under Right to Buy.
It's the market value (ignoring tenant's improvements) less the discount.
Since 11 February 1999 the maximum discount has been limited to between £16,000 and £38,000 depending on where the property is located.
The Housing (Right to Buy) (Limit on Discount) (England) Order 2012 increased the maximum amount of discount to £75,000 with effect from 2 April 2012.
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Council homes should not be sold. Especially as some Council tenants seem utterly incapable or unwilling to controlling their own reproduction, forcing Councils to supply expensive private rents. It's a needless financial burden on society 
Perhaps we ought to consider enforced sterilisation of poor people after they have had a pre-determined number of children.
Perhaps we ought to consider enforced sterilisation of poor people after they have had a pre-determined number of children.
Soldato
Associate
I think it's completely nuts that council housing can be bought or passed on to family members. It's supposed to be for people in need. Why did Thatcher bring in the right-to-buy thing? I'm South African, so forgive my ignorance on the matter.
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I managed to share a nice house in west London for £450pcm plus bills when I was in minimum wage. It was tough, but I managed for a year. Yes it gets complicated if you have a family, but if a single person can do that in London then I've no time for people that say it isn't possible as they're talking utter nonsense!
I bought my council house in 1989. When I bought mine, you had to be in a council property for 2 years before you could buy. So we waited for exactly the 2 years and bought it. Instant 30% discount for the first 2 years for a semi-detached house. Paid less than 15k for it too.
Still in it...
Still in it...
Ok so you get to live in a house for 10 to 15 years paying way way less then market rate for rent like the rest of us. This allows you to save up some cash and buy the same house for upto 75K under market value.
Sounds good to me, where can I get my self a council house?
Soldato
Thats a really nice price, so if i have been here for 27 years, do you think i could get it for that price?
all depends who your landlord is and the market prices.
but you should at least get the full discount they offer which is probably around the 60% mark, now you just have to get lucky on the price they want for the house.
As I said earlier you should get 57% discount for a 27 full years subject to a maximum of £75,000.
So if the house was worth £100,000 you'd pay £43,000.
If the house was worth £150,000 you'd pay £75,000.
What you have to remember also is that fact that during the end of the 90's and towards the start of the 00's house prices did rise by loads. My sister paid £44,000 for her first house which sold for £96,000 when they sold it a few years later. Back then the discounts were nice and the houses where cheap but now its a bit different.
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And the rest. More like £350k here.
Soldato
Caporegime
Are people forgetting the fact that you have to live in the council house for a lot of years. Meaning you are paying rent that goes out of your pocket. The discount you get is eaten up the longer you live there without buying?
I have no idea how much you pay a month for a council house but @ £200 a month thats 36k over 15 years.
If you just wait the 5 years thats 7.2k in rent on a 130k property gives you a house for 97.5k so a saving of 25k which isn't bad but you need to get someone to give you mortgage first right? How is a bank going to lend you that amount of money without any kind of deposit unless your on a good wage?
I have no idea how much you pay a month for a council house but @ £200 a month thats 36k over 15 years.
If you just wait the 5 years thats 7.2k in rent on a 130k property gives you a house for 97.5k so a saving of 25k which isn't bad but you need to get someone to give you mortgage first right? How is a bank going to lend you that amount of money without any kind of deposit unless your on a good wage?
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Soldato
I don't think anyone is forgetting anything. It seems it is two years to get a discount. Try asking a private landlord for a discount because you have been renting from them for say ten years and see what they say.