To buy my housing association home now and not wait for right to buy

[Fulani1989]

I have lived in a housing association home for 6 years. Refurbished houses sell for roughly 130,000. Average semi detached houses in the area sell for over £200,000 as it's not a bad area but my house is on a medium sized (100 houses) council estate which brings down the value.

There's absolutely no way I want to live in this area any longer than I have to. It's okay for now as it's 12 miles from my job.

I have the right to acquire. I requested to know how much the housing association would be willing to sell me the house for. They said it was worth £90,000 and with discount of £9,000 that's £81,000. The reality is that my house is a worth around 110,000-130,000 but HA's tend to under value.

My house is a Council house it was just transferred to a HA 9 years ago. The right to buy is supposed to be extended to HA properties but I've been waiting over a year now and there doesn't seem to be ANY development. I'm starting to believe it's never going to happen.

With the RTB instead I would get a 36% discount and would only pay £57,600! Well, well worth waiting for. I'd be willing to wait a few years to get the discount as the discount gets bigger with each year I'm a tenant.

BUT I don't know if it will ever even happen and I don't want to live in this area indefinitely.

My parents and friends said wait for the Right to buy. But I'm sick of waiting.

Buying my housing association home is my only chance of buying a house. It's the only mortgage any lender is willing to give me because of a less than stellar credit rating from a few years of unemployment.

AIBU to just buy my house now? And just forget the chance of a much better discount?

She's not cashing in or doing anything wrong though. RTB is a good opportunity that most people are jealous of hence the vitriol. No sane person would give that up to go into private rented when the OP has said she wouldn't ever be able to buy otherwise. Buying the home means her son will inherit it and never need to burden the state by needing social housing so it will help a vulnerable person-him.
Living on a shit estate because you have to isn't a privilege, the privilege is having the opportunity to get out to somewhere nicer which is what the government is helping to encourage and what the OP is doing. And I bet anyone criticising here would do exactly the same they are just too jealous to admit it.

How awful, you earn 33k and get a HA house and you get to buy it at a discount but you are considering having even more of a discount? Jesus christ.

The jealousy on this thread is astounding. If you went to Tesco and had 100 worth of food and someone said here we are offering you the chance to pay 70, but if you wait a bit longer you can have it for 40, most people would take the 40 but some would rather just pay 70 and leave.
Who would actually pay the 100? There are no prizes for martyrdom

what is your rent vs the mortgage payment?

Ffs this thread is a year old!

The analogy with Tesco is ridiculous. Tesco don't offer things at the cost of other shoppers to help vulnerable people.

It's the using a system in place to help vulnerable people that is of bad taste. If OP truly intended to live there forever, than that would be another matter, but she clearly wants to buy because of an opportunity that she only got because she was a single mum and deemed vulnerable and intend to make a profit out of it. Personally, I rather have pride in what I earn through what I deserve than what I gain through using a system, but indeed, the latter does seem to be more of the new social pride.

The thing is. Anyone can apply for a HA house. Doesn't matter what you earn.

I am going to buy mine in a couple of years.

So everyone who is jealous apply for a HA house.

They are not just for vulnerable people or people on low incomes. When I applied for mine they asked and checked my income!

Where I live, there is no difference between private rent and HA rent. It all costs the same.

I've put thousands into mine as I had to buy flooring for every room, every room needed plastering, the garden needed doing professionally as it was all hilly,
Grass mixed in with smashed up patio slabs, and rat infested.

Of course I'm going to fucking buy it. These threads give me the rage. If the HA has done what needed doing and did what needed doing then people wouldn't sink money into them and then buy them.

I chose HA for the long term tenancy why is someone on a lower income more entitled than me to a long term rental?

for the last time housing association association houses are not just for the vulnerable and needy i bidded for a brand new house just a few days ago and you have to be a working family which we are.

ZOMBIE THREAD

Tesco don't offer things at the cost of other shoppers to help vulnerable people.

Neither do Housing Associations

Miladamermalada this thread is a zombie, OP has long gone

Be nice if she popped back on and let us know where she is now though eh? Just out of interest

Hi, what happened? Did you buy? Or are you still waiting? I am in the same position, although without the full discount of right to buy I don’t think I could afford to buy now, but worried as the longer they take to extend the RTB the older we are getting, Will we even get a mortgage ?? My husband is 52 and I’m 45 !!