Leaving a council tenancy to move back in with mum need some reassurance

[prestatynprlck]

For context I am 28 and single. I was given a council tenancy on a one bedroomed flat three years ago. Since then my circumstances have changed and I now earn 38k a year and I am in a position where I could buy a 2/3 bedroomed house soon. I have a 5% deposit saved but I need 10% really otherwise I am going to get stung my interest rates. I could save this in a year moving back in with my mum. I need to bite the bullet and do it however I know I would never get given another council tenancy again and I feel a bit scared of letting it go. Am I mad to consider giving up a secure tenancy to move back in with my mum?

Absolutely shocked at the responses.

OP- do you get on with your mum? Is your job secure / do you feel confident in your ability to keep working?

If yes, then I’d live with your mum but try and save more than 10%. Ideally, have a bit of extra savings for any unexpected bills.

Amazed at people who think being in rented is better than being on the property ladder.

i would go back to your Mum’s, save, buy your home.

I could probably save 500 a month living here but 1000 a month at mums

You’d be mad to move back in with your mum at 28 when you have a place of your own. Save a little slower but keep your own place.

I wish I had a magic ball in what house prices are going to do!

They will go up. They always do.

Stay in the flat. Tighten your belt a bit more for the next few months. Leave when you buy.

Try a fortnight living with your mum to help you decide. You're 28 with independence and living with a parent again may not be what you need.

Do not let it go!!! Don't do it!

If your circumstances change you'll never get another offer. Keep it unless you can afford to buy your own property with cash. It's a huge huge leg up in life - if you were allocated it in the first place, you deserve it.

The reason you don't have to leave is because you earn more is exactly because it is designed to give you that leg up to kick start your life

Nooooooooooooooo! Don’t do it,

For goodness sake, STAY!

But you will have your independence and life security whatever happens (eg you unexpectedly fall pregnant or your mum dies suddenly)

She can stay where she is with a secure tenancy and save to buy - giving up a council tenancy to go back and live with your parents is just insane.

Amazed at people who think being in rented is better than being on the property ladder

Being in a secured tenancy is way better than being a lodger. Eventually, the OP will buy. But she should stay in her council flat til then.

You’d be bonkers to give up a council tenancy. How on earth did a single person get one in the first place?

In yoir position I would stay put and keep saving. Carry on saving until your deposit is at least 25% and you also have 3 months living costs saved to be a safety net. Being a home owner is precarious and a 10% deposit gives you very little protection. Whenever your salary goes up keep your kept income the same and increase your savings.

But that depends if it's social rent or affordable rent doesn't it? Not all social housing rents are particularly cheap.

Agree with it being a secure tenancy though.

I don't think this is a good idea. You have a huge amount of security where you are currently. If things don't work out at your mum's you'll need to rent privately and not save any money towards buying.

Illegally sublet your flat and move back to your Mums. 🫠

I'd actually give the tendency up and move back to
My Mums

Absolutely would not be leaving. It's a legal tenancy, you have low rent and a right to be there.

You could move in with your mum and she decide to charge you rent, kick you out, you could fall out. Lots could happen.

I'd stay put and save more. I'd be staying until I had enough deposit to take the mortgage down to roughly the current rent and a years contingency after selling.

Stay put - as pp have said, it would be a foolish decision to leave a secured tenancy. You do not know what is around the corner. In your shoes, I would continue to live in your home and enjoy it. If you buy a bigger house, you will have bigger bills and a mortgage and you are responsible for everything - you will find your £38k pa salary not going very far.

You are in a perfect position - secure job and home and money to enjoy your life with few responsibilities. Don’t jump into a mortgage and bigger bills if you don’t need to.

A single person would have been given a secure council tenancy for a very good reason. I think the reason for that needs to be considered.

I moved around a lot as a child around privately rented and we never had a 'family home' as such and I think this is why now I have an irrational need for stability and to 'own' a home

No do not move back in with your mum, keep your flat and continue to save. As harsh as this might sound, if anything happened v quickly to your mum you'll be left homeless. You need to secure your future, you don't know what's going to happen and giving up the tenancy is a risky strategy.

I’m going to ask this gently and aware it might be a deciding factor - how did you end up with a council flat at 25 when you could live with your mum?

Because the fact that as a single woman with a job and supportive family, you got a council flat at 25 does sort of suggest there’s a back story.

Whatever reason you didn’t feel you could live with your mum at 25 hasn’t gone away.

Stay where you are OP. It can be really hard to secure a council tenancy.