Housing Mistakes

[az_gila]

As said before, I never took up the opportunity to buy my house. Why? Probably because I believe in the concept of social housing (I really do). Some of my neighbours took up the offer and spent a lot on refurbishing their home. They ended up selling them back to LCC for little more than they'd paid LCC for them. The properties were were not mortgageable.
...

But was it a hidden unknown defect or did the buyers just not have a good home inspection? (err... I think survey is the UK term...)



If you purchase something that is known bad - caveat emptor.

---------- Post added at 03:55 PM ---------- Previous post was at 03:51 PM ----------

You have to draw a distinction between actual ownership and beneficial ownership (renting). My parents rented there council house for thirty years. They always called it 'theirs' and they always looked after it (then they bought it).

Yes, your parents might have thought of it as "theirs", but did all of their neighbors? - that is the problem.

My parents bought their house in 1950 and tell me they had to scrimp and save with two small kids to afford it. My mum still lives there. She still says that was the only thing she wanted back then, her own house - after her two kids, I presume...

In thirty years your parents would have even paid off the mortgage.