Right to Buy - Equity Estimate?Having a wobble!

matucana

I am in the very privileged position of having the right to buy on my council house but feeling anxious as the only reason I am buying is because I want to move once the mandatory 5 years is up.
Is there some way of guessing roughly how much equity I might have in the house after that time?
My original calculations were too optimistic and the Amortization calculators i've found won't do a projection.
I need reassurance I'm doing the right thing

Tom99

At a rough guess I would say £25,000.
Try (£ current full value - £ price paid today) + (£ your cash deposit today) + (£ amount of mortgage repaid over next 5 yrs) + (£ increase in full value over next 5yrs) - (costs of sale)

strawb_shortcake

We bought our house under right to buy 3.5 years ago. October 2015 our house was valued at £180k (before the discount), neighbouring houses are now selling for around £240k in theory we have around £140k in equity notwithstanding if we were to sell now there would be a sum repayable to the Housing association. I couldn't predict what our equity would be in 18 months.

matucana

Thankyou for your replies which I've only just seen - didn't get notifications for them!