Should I RTB or buy a fixer upper?

ragstorags

Hi. First time posting after mooching round the forums for some time. I am 41 with 2 children 20 and 7 y/o. I currently live in a 3 bedroom council maisonette above a shop with no garden. I have no hope of getting a move and don't think I will ever find anyone to exchange with me. I desperately want to move as I don't like the area and I would like a garden. My only choice as I see it would be to get a mortgage and buy a fixer upper, which I don't mind as the past 2 council places I've had were in a very bad state and I spent a lot of money doing them up. I am a single parent and work full time together with tax credits I'm on 21K per year, I currently pay £360 a month rent and I've done the calculations, the most mortgage I could get is around 82K.
My credit file shows a poor score but I think this is due to having lived at my current address for less than 2 years, I have a loan 6K balance and 1 credit card with £500 balance, as well as sky and my mobile there are no missed payments. I have become very frugal and by next year I will have a 10% deposit.
I was advised by a mortgage broker (friend of a fried) to buy my maisonette as i'd get it for around £42k. I really don't want to do this, as well as no garden and hating the area I feel bad being in social housing when I could be in a position to get my own place. The cheapest place I've seen is £85K it is a state but with a lot if TLC I think I could make it a lovely home.
Well after the life story my questions are would I be better off buying my current home or waiting till next year to buy a dilapidated house?
Any help would be greatly appreciated.

ACG

If you do not like the property or the area, RTB is not worth it. You will not benefit from the instant equity as such as its not like you can sell it and move on the next day due to the caveats attached to RTB.

I bought my house as a project (partly because it was a bargain but I also could not find anything I wanted to buy) and although taking longer than expected I have enjoyed doing everything. Slightly different to your circumstances as I do not have any kids. Having a 7 year old is probably not going to be ideal but I suppose it depends what work is needed and you could always let them stay with friends and family for a few days if its anything dusty or dangerous?

ragstorags

Thank you for the reply, you are right, to benefit I'd have to be prepared to stick it out here 5 years which I really don't think I could do. I'm just hoping that in a years time the housing market has stayed pretty much the same and there's still some houses in my price bracket.
I've got at least another year here regardless.
Good luck with your fixer upper!