To go back to private renting? WWYD

[MrBojanglesz]

This is really playing over and over in my mind and not sure what to do. Our old house is up for rent we moved out of it last year due to getting a housing association house. We was paying £875 private rent but we now pay £550.

the old house has gone up to £940 we didn’t really want to go back to private renting again. We had a plan to live here until we buy but it doesn't feel possible now.

where we live now is very cramped 5 of us in a 2 bed house, the house isn’t bad but I’m just tired of living here. The police are always being called out for someone, neighbours are always out drinking from 10 in the morning.

privated rented property is across the road from kids school has lots of space and driveway. But of course it’s an extra £390 which we won’t be saving anymore it will be much less.

WWYD?

The way the rental market is going, you would be mad to give up the security of a housing association property. Sounds like you’re overcrowded - can you bid on 3 bedrooms or go for a swap?

I wouldn’t give up a secure social housing tenancy to move back to a private rent. I understand the neighbours issues. Believe me I’ve had much much worse and I’ve considered ( well council offered) fleeing and moving into private rent.

Private rent is so unpredictable.

How come a 2bed when you are a 3 bed need? Are you back on the housing register?

How long would it be until you’re in a position to buy if you stay in the HA house? Is it something you could put up with on the basis it’s only temporary with an end point in sight…?

@Lockdownlard I know you are right it’s just exhausting I feel trapped in such a small house. Yeah I’ve been bidding since last September when we found out I was pregnant but absolutely nothing and no one seems to want to swap to a 2 bed.

That 390/month could well be your heating bill.

honestly it’s tricky and I know neighbours can be ducking tools, but the weather will soon turn and they’ll stop drinking outside again.

how easy is it to get HA/council where you are? I’ve spent the last 6 years living in places where it’s very east to get a tenancy so I might take the risk - however, my current rent is what your increase alone is AND I know if it didn’t work out I could get another social housing place very quickly.

tbh, I think the sensible option would be noise-cancelling headphones and furious walks on your own.

I wouldn’t if I were you. The day we left our last private rental was the best day ever, you can make that happen. Have you looked into shared ownership to see if that would would helps. Also the following (found on the .gov page)

First Homes scheme: discounts for first-time buyers
If you’re a first-time buyer, you may be able buy a home for 30% to 50% less than its market value. This offer is called the First Homes scheme.

The home can be:

a new home built by a developer
a home you buy from someone else who originally bought it as part of the scheme
The First Homes scheme is only available in England.

Eligibility
You must be:

18 or older
a first-time buyer
able to get a mortgage for at least half the price of the home
buying the home as part of a household where total income is no more than £80,000 (or £90,000 if you live in London)
The local council may also set some eligibility conditions.

For example, some councils may prioritise giving First Homes discounts to:

essential workers
people who already live in the area
those on lower incomes
Exemptions for armed forces and their families
You’re exempt from council conditions about being an essential worker or living in the area if you’re:

a member of the armed forces
the divorced or separated spouse or civil partner of a member of the armed forces
a widow or widower of a deceased member of the armed forces (if their death was caused wholly or partly by their service)
a veteran who left the armed forces in the last 5 years
You still need to meet other eligibility conditions.

On the face of it I definitely wouldn’t be giving up the security of the HA property - the rent has risen 65 on your old house in a year, it could easily rise again. Could you afford this? Then you could be in the position of having to find house.

We have a deposit but we need to clear some debts and I need to go back into full time work. I’m on maternity now but I was only doing part time. Probably looking at 2-3 years.

Different circumstances but I left my housing association home for private rental about 7 years ago and I’ve never stopped regretting it. I can confidently say it was the stupidest thing I’ve ever done and the knock on effect has been huge. Your circumstances are different but that’s a huge difference in price long term.

Is buying ever likely to be an option? Because if you can afford an extra almost £400 a month could you be saving it towards a deposit? Or just saving it for anything tbh, life is expensive. And keep bidding on 3 beds? I shared a room with two siblings as a child and it’s not the best but it didn’t hurt me and better to be a bit more secure financially than struggling with an extra bedroom. I hear you on the neighbours but when you weigh up all the factors are they better or worse than more financial security?

As someone stuck in private rentals I would stay in HA and look to improve that situation. We've, for the 2nd time in less than a year, had the landlord sell from underneath us despite being assured this was long term. Pure greed this time as he prices just keep going up. Rent went up 50% moving from a to b, and going up again with moving to c. Our rent costs will have almost doubled in a year! It's now more than one of our full time salary! Let alone the £3000 odd each time to move for first month, deposit, van etc. It's a killer but council not able to help as deemed low priority, especially with us both working.
I really would love a secure tenancy as this has been horrendous on us and the kids. All the while the rents are going up and up, we can't afford to save for a deposit either.

I'd look at things like a swap as it does sound miserable there and definitely sounds overcrowded. Can you bid on another property?

I totally agree. I’ve also had my house sold from under me twice in the past year despite being upfront about wanting a long term let each time. I’ve just had to move back in with my parents for a couple of months until I find something new to rent (NI rental market is shocking) and I’d give anything for a housing executive house but I’m way down the list of their priorities. Prices are ridiculous too so my choices are limited. As a single person working full time I get no government help whatsoever. Honestly I’d stay where you are and save for a deposit.

I agree with pp. Stick it out and buy your own. 2-3 years is not that long in the scheme of things. You are in a fortunate position to be able to save so much each month. Private rental is too insecure, the cost could easily spiral up, you could be made to leave repeatedly etc.

I'd move. Money isn't everything.

Could you and your dp/ dh not get a sofa bed and let the children have the bedrooms. You'd be crazy to give up a housing association house , the private rental market is just too unstable at the moment.

Stay in the housing association house. Better to have the security. Maybe try to keep morale up by thinking about your plan and focussing on your end goal.

Definitely look at new builds an estate near to me is 50% schemes to get people on the housing ladder such as rent to buy, shared ownership, local occupancy.
I know it’s really difficult but I would try to save a bit harder so you can buy a bit sooner.

No but having a secure roof over your head is pretty important, as is hot water & feeding your kids.

Stay where you are. The private rental market is insane at the moment.

When we rented privately we moved three times in a year as each time we were given notice at six months, despite the landlord saying he wanted long term tenants. I’d go for security every time.

The sensible thing to do is stick it out and save, save, save. If you can be in a position to buy in 2-3 years it will absolutely be worth it.

@MrBojanglesz

Don't do it.

I do understand how utterly miserable it is renting a house with hirrible neighbours & not having much space, BUT you have a reasonably secure roof over your heads!

I understand it's tempting when your previous home is up for rent, but there's nothing to say the rent won't go up even more or that they won't sell it.

Why do you think you might not be able to buy now?

as others have said there are a LOT of schemes for FTB. (Be careful though, some are a complete rip off!!).

the difference between what you pay now & private rent is already a good amount to keep saving for your own place.

keep bidding on 3 beds, but your baby can stay in with you for a long time yet & if 3 DC have to share for a while, it's not the end of the world.

Even getting a different 2bed might improve things!

Dont go back to private rent, there's NO security in it!!

Given that your utility bills will likely rise a by £200 pcm this year i wouldn't be risking it