Should I buy my London council flat?

KimberleyR

HI everyone,
I'm currently thinking of buying my council flat. I have lived here for 13 years and it definitely feels like home and will be our home for a good few years to come. The plan is to sell in around 10/15 years once we are ready to move out of the city.
My concern is will we be able to sell? We know all about selling back to the council within 10 years and that's absolutely fine. we live near the Barbican which is a fantastic location and walking distance to so many tubes, buses, shops, schools and not to mention walking distance to the city. We know it is a fantastic location but as a rule would someone buy an ex council property in central London? I guess I just don't want to be stuck here forever. 
We haven't received a response to our application yet so don't know the official cost but we should definitely get the £110,000 reduction and going off how much similar properties are in the area we have worked out we can afford the mortgage so affordability isn't an issue. It's more is it a wise move?
Would you take the opportunity to own a flat in central London or would you stick to renting and hope you can swap for a nice house with a garden in years to come? 
A little bit more info on the flat. Its quite a large 2 bedroom, on a small, well cared for estate, 2 communal gardens and a children's play area but no balcony or garden of our own. It's on the 4th floor with no lift.

TripleH

I privately rented a flat in a block owned by a London Council. There were a couple of owner occupied flats in the building. We had no issues with the other tenants (there was a squatter issue but thats a different story). We would have loved to buy a flat in that building if we could have.
I also know friends who owned flats in blocks of council tenants.
Zone 1 of London is, in my opinion, not like anywhere else I've lived in the UK. 
You will have the risk of loosing a secured tenancy and if there are building works going on, you may find you disproportionately pay a higher contribution for them. As long as you go in with your eyes open...