To Buy OR Not To Buy????

Niv

Asheron wrote: »

Do not Buy......... House prices over the next 10 years will be coming down.

Will they come down enough to counter 10 years worth of rent though? That is the key imo

To the OP , I would continue with your purchase, the scheme as I understand it is for new builds so would not apply to your current purchase.

Niv

121casa

Niv wrote: »

Will they come down enough to counter 10 years worth of rent though? That is the key imo

To the OP , I would continue with your purchase, the scheme as I understand it is for new builds so would not apply to your current purchase.

Niv

Thx, you're right, I've paid rent for the last 14 yrs to the H.A. and have no intention to pay for another year let alone 10 yrs!!!
The scheme certainly applies to other tenants on my estate as they have the "Right To Buy" although they are with the same H.A. they are classed as "Secured Tenants" with the r.t.b. In my case I am only an "Assured Tenant" with the "Right To Acquire".
Is ther a solicitor out there who might want to fight my corner under discrimination???:rotfl:
All queries will be answered.
Thanks in advance.

tartanterra

121casa wrote: »

Hi,
I live in the Housing Assocn. house and have just started the process of purchasing about 3 weeks ago under the Social Homebuy Scheme, only to read in the papers 2 days ago about the govts. new scheme to help 1st time buyers.
I've lived in the property for 10 yrs now.
I have the right to acquire and there is a fixed discount of 10k off the market value.
Would it be advisable to instruct my solicitor to stop the purchasing now and wait......... I am very confused and would greatly appreciate some sound advice. Thanks in advance.

If you want to own your own property, if you really like the house, if it's in an area you like and if you can afford it, then why not?
Also, as it's a HA property, the chances are it has been well maintained and you are unlikely to discover any "hidden horrors" after purchase.

Additionally, as HA's tend to be "not for profit", then any money realised is likely to be reinvested in either maintaining existing HA property (thereby providing work for other people) or used to purchase another property to be let out (therefore providing someone else with affordable housing).

Good luck with whatever you decide.

DaddyBear

121casa wrote: »

Hi,
I live in the Housing Assocn. house and have just started the process of purchasing about 3 weeks ago under the Social Homebuy Scheme, only to read in the papers 2 days ago about the govts. new scheme to help 1st time buyers.
I've lived in the property for 10 yrs now.
I have the right to acquire and there is a fixed discount of 10k off the market value.
Would it be advisable to instruct my solicitor to stop the purchasing now and wait......... I am very confused and would greatly appreciate some sound advice. Thanks in advance.

I would strongly urge you to buy your own property. You clearly don't need social housing and should leave it for someone who does. Plus you'll save the taxpayer about £1k per month in rent. Right to buy has contributed to high house prices and lack of affordable accommodation.

121casa

DaddyBear wrote: »

I would strongly urge you to buy your own property. You clearly don't need social housing and should leave it for someone who does. Plus you'll save the taxpayer about £1k per month in rent. Right to buy has contributed to high house prices and lack of affordable accommodation.

Save taxpayer 1k per month??
At no time has the taxpayer paid my rent whilst I've been with the H.A. as I've always been in employment. Maybe I should've taken advice from you 14 yrs ago and sat back and relax whilst YOU paid my rent.

leveller2911

121casa wrote: »

Save taxpayer 1k per month??
At no time has the taxpayer paid my rent whilst I've been with the H.A. as I've always been in employment. Maybe I should've taken advice from you 14 yrs ago and sat back and relax whilst YOU paid my rent.

I may be wrong buy I think Daddybear was referring to the fact that the taxpayers could be paying someones private rent via Housing benefit when those tenants could rent your Social Housing property for a fair bit less.

121casa

1984ReturnsForReal wrote: »

Don't you get the option to buy it for £5 in a few months?

£2.50 actually; ......why don't you qualify for a discount then.......merry xmas to you anyway:D