A WOMAN has sparked a debate after showing off the council house she bought for £46,000 and is now selling for a profit.
Julie shared how she had lived at her “beautiful home” for 23 years completely mortgage-free, but was now ready for a “new chapter”.
Taking to her @juliehetherington1 account, she gave a sneak peek inside her elegantly decorated home.
She wrote: “Planning to sell up and finally chase the dream: life by the coast.”
Julie explained how she had bought her three-bedroom terrace house with a large garden and drive when she was a council tenant and had “got the discount.”
She admitted: “Part of it’s just thinking am I doing the right thing? You know, I’ve lived here for 23 years, but I’ve always wanted to live in a nice area on a nice street.
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“So it’s getting put up for sale before I get too old and I can’t do it.”
Julie gave a tour around the property, including her stylish kitchen and nicely-decorated lounge.
Although she claims she has a few jobs to do on the home before it is completely, it won’t be long before it goes on the market next year.
While she hasn’t been paying a mortgage on the house, she is fitting the bill to have some areas replastered and painted and a new carpet added.
Julie admitted that her house is actually worth £150,000, meaning she’ll have made around £100,000 on it.
Her video has racked up over 197,000 views, and sparked a debate in the comments.
One said: “People should not be allowed to buy and sell council property that why people live on the streets”
Another added: “This is where the council failed and the reason there is limited council housing because they sold them off ! Beautiful what you have done to it though.”
A third commented: “This is problem!! Buying cheap and selling on way owa what they paid!! Shudnt have been allowed!”
And one shared: “Living in a beautiful, mortgage free home is the dream. You’re crazy for moving!”
Julie replied that she plans to live with her son for a year, and then will have enough money to buy her own place, with a tiny mortgage if she needs one.
How Right to Buy Works
RIGHT to Buy is a UK government scheme that allows eligible council and housing association tenants to purchase their homes at a discounted rate.
Here’s a step-by-step outline of how the process works:
Eligibility
– You must have been a public sector tenant for at least three years.
– Your home must be your only or main residence.
– The property must be self-contained.
Discounts
– The discount is based on the length of time you’ve been a tenant.
– For houses, you can get a discount of 35% after three years, increasing by 1% for each additional year, up to a maximum of 70% or £96,010 (whichever is lower).
– For flats, the discount starts at 50% after three years, increasing by 2% for each additional year, up to the same maximum.
Application Process
– Fill out the RTB1 application form and submit it to your landlord.
– Your landlord has up to four weeks to reply (eight weeks if they’ve been your landlord for less than five years).
Offer Notice
– If eligible, you’ll receive an offer notice (Section 125 notice) detailing the property’s market value, the discount, and the price you’ll pay.
– You have 12 weeks to accept or reject the offer.
Valuation
– If you disagree with the valuation, you can request an independent valuation from the District Valuer within three months.
Financing
– Secure a mortgage or arrange financing if needed. You may also use savings or other financial means.
Conveyancing
– Engage a solicitor or licensed conveyancer to handle the legal aspects of the purchase.
Completion
– Finalise the purchase and complete the transaction. You’ll become the legal owner of your home.