This page explains how your discount is worked out if you have lived in Housing Executive or housing association accommodation for more than five years. If you are buying your home outright, you can get a maximum discount of £24,000.

• How is the purchase price worked out?
• What are 'historic costs'?
• Will I have to pay for improvements I have carried out?
• How can I work out my discount?

How is the purchase price worked out?

The purchase price of your home depends on:

• the area you live
• the condition of your home
• whether the Housing Executive or housing association has carried out any improvements (historic costs)
• any discount because of how long you have lived in the property
• the amount of equity you are buying.

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What are 'historic costs'?

'Historic costs' are the costs involved in building your home or upgrading the property in the ten years before you buy the property. 'Historic costs' don't include repairs by the Housing Executive or housing association.

The property can't be sold for less than the 'historic costs' of the property, even if your discount takes you below this figure. For example, if the 'historic costs' of your property are £16,000, you must pay at least £16,000.

Contact your local Housing Executive District Office or housing association office for more information on 'historic costs'.

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Will I have to pay for improvements I have carried out?

The valuation won't include any improvements you have carried out. However, the valuation will include any improvements carried out by the Housing Executive or housing association.

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How can I work out my discount?

If you are buying your home outright, you can only get a maximum discount of £24,000. The amount of discount available depends on how long you have lived in the accommodation and the amount of equity you are buying. If you are a joint tenant, the discount is based on whoever has lived in the accommodation longest.

You are able to get a discount of 20% once you have spent five years living in the accommodation. You will get an extra 2% discount for every extra year, up to a maximum discount of 60%.

However, your discount is limited to £24,000 if you are buying a full stake in your home and you can't buy your accommodation for less than the 'historic costs' of the property.

If you are buying your home in shares of equity, the maximum discount you can get will be related to the level of equity you buy. For instance, if you are buying half of the equity of your home, you will be entitled to 70% of the maximum discount level.

Some examples of equity sharing prices and discounts are set out in the discount table on the Housing Executive website.