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about right to buy discount
Comments
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If I buy my council house a get a large reduction,
the only thing is I want to buy it to move out of the area but there’s a restriction if I sell the house in the 1st year I have to pay back all the discount then it reduces each year up until year 5 when I don’t have to pay any of the discount back, can I do anything to not pay it back or reduces how much I have to pay back, can I rent the property out? If I do improvements that make the house worth more is this considered when I do sell it at any point? Thanks,
The only thing that is considered is the original discount given. You cannot get out of it and it is specifically written into the contract. No idea about being able to rent out, again it depends on what is in the contract.0 -
I have owned houses before but did not expect to end up in this situation; I know the costs of owning a property! but don’t know the clauses of buying a council house, I would not have to spend much on the the house to turn it from a 2 bed to a 3 bed 2k total max but if I do this will the ex council want full market value for a original 2 bed or the 3 bed I have payed to change it to???
The Council will want the discount back or the percentage of the discount depending on how many years are left. The only figure that counts is the monetary discount you got. Whether or not the house improves in value or falls is irrelevant.
You re-imburse them the discount.0 -
and just to say, we could exchange as a concil tennant to what another area we dont want to be in??? Or we can buy then sell and be in an area we do want to be in!!!! Thats why we want to buy and thats why we wanted to know about renting the place out
you will not be entitled to a council house in another area whilst you own a property.0 -
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