The thought of buying and owning your council home may be exciting, but in these unstable economic times it is wise to think very carefully about making this decision. The discounts are generous, but home ownership does come with a lot of responsibility. The two most important things to consider are:
- Can you really afford to buy and then maintain the house or flat?
- If you decide to sell before 10 years is up you may have to repay some of the discount
The best advice is to go through all your finances carefully with a financial advisor or your bank manager or seek free independent guidance from Citizens Advice.
Weighing up all the pros and cons is vital to ensure it is the best time to buy and indeed that you are ready to buy.
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