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Right To Buy With A Family Member.. Pros? Cons? Thoughts?

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As stated above I'm looking at the idea. It would be on a 1 bed bungalow with nothing really needed in terms of upgrades or repairs. It's been there for over 50 years and looks in better condition than my PRS house built just 14 years ago.

The council won't release a 'property value' unless the process is actually started. The 'discount' is up to £24k. Prices could range from £60-90k from looking around.

Will they try to mark it up as best they can?

I've been on here for quite a while so I'm not stupid enough to jump in the deep end.

Any advice or comments from the great people of HPC would be helpful! :rolleyes::rolleyes::rolleyes::rolleyes:

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I am not clear what it is that you are asking.

Do you have a family member living in the bungalow?

If you buy it, will you live in it?

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What's in it for the other partner?

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It's been there for over 50 years and looks in better condition than my PRS house built just 14 years ago.

Same with my former family home where my dad lives - 60 year old house in better shape than the 9 year old PRS flat I'm now in.

I heard that my dad's family looked at doing the same thing for my paternal grandad and his generous sized 2br flat. However, as the late 1980s recession kicked in and given that most were in the building trade, not a good time to be considering this. In 1990 my dad lost his building job.

I don't know all the details but in this situation I wouldn't consider buying under RTB. I think that the relationship with the family member could be put under strain.

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As others have said, who lives there now? What do they get out of the deal? You will be responsible for all the maintenance. Do you trust them with your life as the house will be in their name I suspect. Sounds like a potential minefield, but hey desperate times....

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You've made some very good points pl1. I'd rather not go into the details on here and we've made no decision as yet, was just an idea. It's one my parents and we're pretty close anyway.

I thought I'd get as much opinion as possible and appreciate the input from everyone. :D

It's basically risen as an idea due to the desperate times and the ridiculous housing market.

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You've made some very good points pl1. I'd rather not go into the details on here and we've made no decision as yet, was just an idea. It's one my parents and we're pretty close anyway.

I thought I'd get as much opinion as possible and appreciate the input from everyone. :D

It's basically risen as an idea due to the desperate times and the ridiculous housing market.

Not close enough to share a bedroom though.

Unless neither of you plan on ever having sex[1] again it's a bad idea.

[1] Including that too.

Buy them the house cash BUT then you get to share it with any siblings after they die.

And they're liable for all repairs. Which means you. And are you going to ask them for rent on a house that is in their name?

If you are looking at it short term for you to sleep on the couch then maybe. but long term this is not a liveable option.

Edited by SarahBell

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