Council flat purchase?

Misteek

gwynlas said:

Council managed blocks often have higher service charges that others as contractors have to meet local government criteria rather than just a managing agent sending loocal handyman to touch up paintwork fix leaky tap etc.
Also whilst she might know and like current residents councils are social landlords so anyone placed there might have issues that would perhaps preclude them renting from a private landlord.
Whilst RTB can work I think it best applies to houses or flats on smaller developments where majority are owner occupiers

It's a blocks of 4 flats.

RAS

Are there other blocks of flats in the same development?

ExEstateAgent

Misteek said:

ExEstateAgent said:

If it's only 3 years old there shouldn't be much work required for the forseeable future apart from routine maintenance, the council should be able to tell her what the current service charge is and if there are any major works in the pipeline. 

Council service charges tend to be reasonable but when any major works are required they can be very expensive because councils will have contracts with larger companies (rather than using some local builders). 

What would you do in her situation. Atm she doesn't  pay service charge . They don't ask for it. Maybe cus it's new ?

If she's a council tenant then she pays rent and the council are responsible for the maintenance of the building. If she becomes a leaseholder she will have to pay a share of all maintenance costs. 

I can't say what I'd do as I don't know what the deal is or what her financial position is. If her RTB discount makes it a great deal and she can budget for the costs then it would probably be worthwhile buying as the value of the property should increase (although I think with most RTB schemes there are conditions about when you can sell on and giving the council first refusal etc). The details are important.