I bought a flat in my home town so that when we went back to visit my family we wouldn’t be stepping on their toes every time. This is a part of the UK that is in no way a tourist destination or in any way desirable. Think ‘most deprived cities in the UK’.
I had vague plans to either pass it on to my ageing parents as their current home is far too big for them, or to my son when we are gone so that he retains his connection to ‘home’ (we’ve moved about a lot - can’t be helped, it’s just how it’s been). It’s never been seen as an investment and I’ve never wanted to make a profit of any sort.
In 7 or 8 years time I’ll be paying at least 1200 a month in council tax. I can’t afford that. To sell it I’d realistically have to have a new kitchen and bathroom put in. I can’t afford to do that. To rent it out I’d have to do the same. If I sell I’m going to be absolutely whacked by the tax authorities in my country of residence even if it sells for less than I paid for it, so I’m going to be much worse off.
I want to appeal it with the council but I’m very aware that it sounds like an incredibly tone deaf thing to do given that I could afford to buy in the first place. At the same time it feels like I’m being punished for a problem (housing shortage and locals being priced out) that is non existent in the area in question. If I were to sell that flat it would be most likely to a landlord and then rented out….. probably to someone not paying any council tax at all, or at a discount.
Ive had so many sleepless nights over this and I don’t see a way out that isn’t going to leave me significantly worse off.
So yeah, OP. I’d be looking at council tax rates.