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Council tenants and their right to buy

Even in the midst of the current economic downturn which has seen property prices plummet across the UK there are still many council tenants able to acquire their properties at a significant discount to the current market price. While a number of tenants may not be in a position to acquire their homes at this point in time it is worthwhile checking out what rights you have and when they may expire.

However, if you're looking to acquire your council home it is vital that you take independent financial advice to ensure what you save on rent can be more than offset by the potential for capital growth as well as taking into consideration any extra costs you may have. If you have money put aside in a savings account it may be possible to make your money work harder by investing in your home. However, as anybody will tell you, buying your first or your last home will be one of the most stressful and potentially risky decisions you will ever have to make.

Even though the discounted prices which many councils around the UK still offer can look very attractive on the surface, you need to investigate in detail any potential expenses you may incur in the future.

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