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Buy to let while in a council house

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Comments

  • HouseTargaryen
    HouseTargaryen Posts: 85 Forumite
    Fifth Anniversary 10 Posts
    Norman_Castle said:
    Can you buy your current home through the right to buy?
    No, I'm in Scotland.
  • HouseTargaryen
    HouseTargaryen Posts: 85 Forumite
    Fifth Anniversary 10 Posts
    FBaby said:
    Why would you want to become a landlord? Do you have the every day fund and savings to deal with unexpected costs that come with it?
    I just have loads of money each month spare, I still spend as if I'm on a low wage. The idea of owning a home is appealing, perhaps I've been brainwashed though by British values. I could afford it, I'm not far off £700 a month left over each month to invest/save. Now isn't good timing but just looking into options. May go down a different route though.
  • HampshireH
    HampshireH Posts: 4,975 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    HouseTargaryen said:
    Norman_Castle said:
    Can you buy your current home through the right to buy?
    No, I'm in Scotland.
    Ignore my previous post. I have no idea whether it applies to social housing tenancies in Scotland.  Easier to mention these things at the beginning.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 27 December 2020 at 4:33PM
    HampshireH said:
    HouseTargaryen said:
    Norman_Castle said:
    Can you buy your current home through the right to buy?
    No, I'm in Scotland.
    Ignore my previous post. I have no idea whether it applies to social housing tenancies in Scotland.  Easier to mention these things at the beginning.
    Also easy not to assume everybody posting on a UK-wide forum is in England...
    The OP almost certainly has a secure tenancy, which means they'd have to try really hard to get evicted - buying another property isn't going to affect their tenancy.
  • NameUnavailable
    NameUnavailable Posts: 3,030 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Why wouldn't you just want to buy a home for yourself?
  • HouseTargaryen
    HouseTargaryen Posts: 85 Forumite
    Fifth Anniversary 10 Posts
    NameUnavailable said:
    Why wouldn't you just want to buy a home for yourself?
    I couldn't afford a similar sized house in my village. Kids' school and friends are all here so can't move yet. Quite an expensive and nice area. Well I technically could but I'd be a tiny flat and we're in a big house so no way that'd work out.
    Perhaps once the kids finish uni I will buy somewhere and one of them can go on the tenancy and take over the lease. Either that or I'll keep it. Too good to give up if I'm honest. 
  • Seashell517
    Seashell517 Posts: 275 Forumite
    Third Anniversary 100 Posts Name Dropper
    edited 28 December 2020 at 11:06AM
    HouseTargaryen said:
    NameUnavailable said:
    Why wouldn't you just want to buy a home for yourself?
    I couldn't afford a similar sized house in my village. Kids' school and friends are all here so can't move yet. Quite an expensive and nice area. Well I technically could but I'd be a tiny flat and we're in a big house so no way that'd work out.
    Perhaps once the kids finish uni I will buy somewhere and one of them can go on the tenancy and take over the lease. Either that or I'll keep it. Too good to give up if I'm honest. 
    So save up all this extra money that you have each month until you are able to afford something that is a suitable size? 
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