PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Buy to let while in a council house

Options
2»

Comments

  • Can you buy your current home through the right to buy?
    No, I'm in Scotland.
  • 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: 4,944 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    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
    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.
  • Why wouldn't you just want to buy a home for yourself?
  • 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
    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? 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.1K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599.1K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.