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Buying a council house

  • 31-03-2008 3:34pm
    #1
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,693 Mod ✭✭✭✭


    I'd appreciate some advice. I live with my partner and we have our own house. My mam lives in a council house that would be in a good area. She has thought for a few years abotu trying to buy it. I think mostly she worries she couldnt afford it.

    I'm in a position to help her on this now. Does anyone know what way the process works? Its in DLRCOCO if that makes any difference. Also she's hitting 60.

    Thanks


Comments

  • #2
    ntlbell
    Registered Users, Registered Users 2 Posts: 16,288 ✭✭✭✭ntlbell


    helimachoptor wrote: »
    I'd appreciate some advice. I live with my partner and we have our own house. My mam lives in a council house that would be in a good area. She has thought for a few years abotu trying to buy it. I think mostly she worries she couldnt afford it.

    I'm in a position to help her on this now. Does anyone know what way the process works? Its in DLRCOCO if that makes any difference. Also she's hitting 60.

    Thanks

    One way is she make you a tenant and then as a tenant you can purchase with her you can't do it without her and from the sounds of it she couldn't do it without you.

    then just get her to leave it to you in her will or whatever way you want to do that part.

    They take into consideration rents paid over the years and current market value, you could get a decent enough deal.


  • #3
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,693 Mod ✭✭✭✭helimachoptor


    ntlbell wrote: »
    One way is she make you a tenant and then as a tenant you can purchase with her you can't do it without her and from the sounds of it she couldn't do it without you.

    then just get her to leave it to you in her will or whatever way you want to do that part.

    They take into consideration rents paid over the years and current market value, you could get a decent enough deal.

    Yes that is what I was thinking but would we need to pay stamp duty etc? She will continue to live there until she moves on :(.

    Cheers


  • #4
    ntlbell
    Registered Users, Registered Users 2 Posts: 16,288 ✭✭✭✭ntlbell


    helimachoptor wrote: »
    Yes that is what I was thinking but would we need to pay stamp duty etc? She will continue to live there until she moves on :(.

    Cheers

    I would assume if you all ready own a home it would be liable to stamp duty but my guess is if she has lived there for a long time when they take the rent into account you should get it very cheap and offsetting the stamp duty.

    The best thing to do is go into the council with your mam and talk it over with them.


  • #5
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,693 Mod ✭✭✭✭helimachoptor


    I will give them a call in the morning. Thanks Ntlbell


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