Buying RTB as a single parent-what could go wrong

[chavtasticfirebanger]

Asking for a friend who is a long term lone parent no maintenence. Works FT.
Offered right to buy. She's nervous.
House has had new boiler, shower, bathroom etc. Discount about 20000. Not big enough but affordable.
I think she'd manage but shes terrified of upkeep costs.
What is the worst scenario so I can advise her? She's considering renting somewhere nicer but its empty money and she does want stability
Thanks in advance

I'd go for it for sure. Can't beat stability and that discount is v good. Not gonna get that offer ever again especially if she sods off to private rented.

Can she afford to pay the mortgage if she loses her job?

What do you mean by not big enough? £20K isn't a great amount if you're going to need to move again.

Its worth 150000.
She would be elibible for esa etc shes disabled and gets high rate pip.
She has some savings not much. She didnt know whether to add them to the discount or keep it for a rainy day, about 2500. Shes had a decision in principle

ESA wouldn't give anything towards her housing costs for the first 39 weeks if she wasn't able to work though?

I don't think 20K is a massive discount, add in the fact that she will have to pay the maintenance costs plus any service charges etc and she only has a small amount of savings...

Hang on, isn't this the friend who doesn't like where she lives, the house is too small, and could be offered a more suitable house in the next year or so??? You seem very keen for her to buy! She doesn't seem to want to, and I'm inclined to agree with her.

Messy yes!
Because i dont think she'd like anywhere.
I just want whats best and she always asks me so i know shes thinking about it, im not forcing her. Thats why im asking here because i dont know but i just thought buying was more stable. Ive read on here a small affordable house is better than a bigger one somewhere nice.
A year is the minimum and could be a lot longer.
Whats the worst case scenarion maintenence wise?

You can get insurance for pretty much everything, boiler, heating etc plus the house insurance, unemployment.

Besides ill health she has qualifications so could get a better job but doesnt want to while the kids are little (teacher-shes a TA currently).

Is the insurance expensive?

Yes! Insurance for that sort of thing is rarely good value (unless the peace of mind means you can function rather than being hamstrung by anxiety)
She is in social housing, so has far more stability than she would in private renting. It's not such a no brainer than if she was on an AST.

Thanks messy. Social housing is secure youre right. Im not sure the benefits of buying will be worth it for her.

It might be that a few years down the line it does become worth it, but it sounds like right now might not be the time?

Thats true. Thank you.