How to a council house valued
Right To Buy From Council UK - Worth It? (The Truth)
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hey what's up my name's Samuel Leeds and
in this video I wanted to talk about the
right to buy scheme so the right to buy
scheme is if you are a tenant that's
living in a council house or a
government-owned outs or a Housing
Association and you've lived there a
long time then you may be eligible to
buy the house at a discount and a lot of
people have said to me you know Samuel
I'm in a house and the council have told
me that I've got a right to buy it with
a discount is this good is this another
one of those government schemes where
there's loads of caches and I should be
really careful you know what are your
thoughts so I'm gonna give you the pros
and I'm gonna give you the cons and then
I'm gonna give you my opinion and my
thought on the right to buy scheme so
firstly what it is exactly this was
introduced in 1980 by Margaret Thatcher
so she brought it in it was scrapped in
2016 in Scotland it was scrapped last
year 2019 in Wales it's been capped in
Northern Ireland so it's not quite the
same in England it is still a thing
so in one of its literally I think you
lived there three years and you get a
35% discount off of an apartment that
you're in it applies to houses do they
just get slightly less the longer you've
lived there the more of a discount that
you get so people have come in to me and
they're saying like so I got 50
obviously I've got 60 percent I can get
discounted with this house so I've
locked into it and normally with these
things there's a lot of cons you know
you if you do it then you've got this
and listen listen this now listen if you
buy a house discounted by the council
you can't then immediately sell the
house so you've got to wait but you've
got about five years before you can sell
it and get a hundred percent of the
profit from it and there's a sliding
scale but if you buy it at thirty five
percent discount and then they
immediately sell it that discount you
will have to give back but after five
years you can sell it renting wise
surprisingly you actually can buy it and
then you can immediately rent the house
out as long as you've got the
kind of mortgage you can buy it discount
from the council and then rent it out
she's really weird because usually the
government our auntie you being an
investor they want you to buy somewhere
and live there forever so in terms of
comms I don't really think there's that
many cons of course you need to raise
the money you need to buy it and it
might not be the best property in the
world but generally speaking my advice
is this scheme is pretty good it's
pretty good and I personally have got
friends I know people in fact even some
of the people we've had on winners
Wednesday like NSA and Genevieve mother
and daughter Patricia bright she's been
on my channel her mom a lot of people
that I don't know or I know of have
bought properties with the right to buy
and have made a lot of money off of it
and have been really really successful
so I don't think there's that many cons
I think it's amazing I think if you're
in a house and you have the opportunity
to buy it at a big discount I would just
say go ahead and buy it find the money
go ahead and buy it it's not every day
that you come across a property like 40
50 percent below market value
that's incredible just because you've
lived there a few years I mean geez I'm
even considering moving into some
council houses and staying there for a
few stirs for the discounts like I'm
kind of kidding but look it's seriously
good they've scrapped it in a lot of
countries in a lot of places and I
suspect they're gonna scrap it in
England soon at some point as well so if
you have the opportunity to buy it I
would say go ahead and buy it also the
government are pretty angry about this
I've seen articles where they're going
nuts because they said I've read this so
it was said the damning figures the
damning figures also show that more than
40% of London council homes bought under
the government's right to buy program
are now rented out privately so they're
not happy they're like the damning
figures they don't want you to buy it
without personally I think good for the
people that bought it rented out if
you've managed to get them money
together and buy it
then good for you and go ahead and rent
it out I think it's great so now those
are do it do it do it I wouldn't be
surprised if the government scrapped the
rent to buy soon
introduced lots of other schemes which
are riddled with more strings attached
than this one so that's my thoughts if
you've bought a house on the right to
buy scheme let me know I want to know
what discount you got okay not not in
percentages but in actual cash how
because you you actually make money when
you buy a house if you buy a house for
100 grams it's worth 150 effectively
you've kind of made fifty thousand
pounds then you make money when it goes
up then you make money when it rents out
so property is just a great way to make
money and I would take advantage of this
scheme some of the other schemes I'm not
so sure of help to buy lifetime i sir I
don't like these shared ownership I
don't like this I'll put a link to a
playlist with all the schemes that are
not a fan of you can check out the
playlist right here also if you want to
come and learn about property and how to
really make money and be a professional
property investor come down to the
property investors crash course you can
do that right yeah and of course please
don't forget to subscribe if you enjoy
the videos subscribe over here turn the
notification belt on and I look forward
to seeing you next time
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