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Buying my council house
Comments
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£38k in salary and £4k bonus with a £34k debt and only £8k in savings hints you're not the greatest with money... so perhaps sit down and work out a sensible plan to pay off your debt before even contemplating buying a house!
Of course you're entitled to "live a bit...", but generally those people serious about buying a house, they cut out the excess living to save a sizeable deposit. It's generally an either/or choice!
Most people already know my opinion that those who can afford to rent privately should, and let those who slog their guts out on the minimum wage get the council houses, but seeing as you've already got one, you have the one thing that private renting people don't - security of a long term let! This is often a reason why people buy, as they don't like the insecurity of private renting, so it seems daft to buy when you've already got it pretty good!Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
If I understand the way it works, the longer you stay there, the bigger the discount gets. So, if you wait a couple of years to pay off your debts, your discount will get bigger. Meanwhile, the value of the house is likely to go down. Also meanwhile, you've got a place to live.
What's the hurry?:beer:0 -
I thought the maximum RTB discount had been reduced from £38,000 to £18,000 a few years ago. Are you sure you'll get a £34,000 discount?breconcarreg wrote: »Morning, The value seems okay for where we are..in the South East...as we are getting £34,000 off, but i guess it all comes down to what it will be worth next year and the future years..Personally this is a wonderful place, perfect in everyway..not the biggest place mind..but a normal family house in this area starts at £250k upwards...
I think, I will pay some more debts off then worry about it the future, and you never know they may beg me to buy it for £50k if all goes belly up...
Have a good day...
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Yes, £34.000 off.0
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The RTB discount varies from area to area but £34K is correct in a lot of the South. You get less discount in the North and even less in Wales.0
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Might be worth checking if stamp duty kicks in at £125K or £150K in your area. http://www.hmrc.gov.uk/so/dar/dar-search.htm It would be frustrating if that extra £1K tipped you over the threshold. If so it might be worth trying to get it at a bit less.0
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BrandNewDay wrote: »If I understand the way it works, the longer you stay there, the bigger the discount gets. So, if you wait a couple of years to pay off your debts, your discount will get bigger. Meanwhile, the value of the house is likely to go down. Also meanwhile, you've got a place to live.
What's the hurry?
This is not strictly true, since there will always be a cap on the maximum allowable discount.dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
dolce_vita wrote: »This is not strictly true, since there will always be a cap on the maximum allowable discount.
I didn't realize that that was how it works.:beer:0
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