Anonymous asked in Business & FinanceRenting & Real Estate · 5 months ago

Please no judging i saved for a deposit for a house but not able to buy atm but because of this not entitled ro benefits what can i do ?

if i spend my deposit on renting it will take me 10 years plus trying to save again. But while iv got that money im not entitled to housing benefit what can i do what is a good investment should i buy a car as i do need that but first the house. 

8 Answers

  • 5 months ago

    Your post isn't entirely clear. 

    What country are you in to start with? The fact that you refer to benefits rather then welfare makes me guess UK rather than US.

    Have you lost your job??? Is that why you need housing benefit? Again, not clear.

    If that is the case, then if you have over £16,000 in the bank then you can't get help, until you have run your savings down to below that level.

    If you claim to have less than 16k in the bank, your finances will be checked and if the DSS see that you have tried to off load assets, eg buying a car, or transferring money to family or friends, that is deemed as fraud. Your application will also be assessed as if you hadn't got rid of money.

    Unfortunately, you are between a rock and a hard place. Save and you get penalised. Spend every penny you earn and in bad times you get everything given you.

    Are you able to move in with family while you look for work? might help save your deposit money.

  • 5 months ago

    How could you spend your entire deposit for a house on renting? Unless you have no other income / money. 

  • 5 months ago

    Huh ??  Are you talking about getting a "welfare Cadillac" to (stay in section 8?). {And yes, we taxpayers are going to judge.}

  • 5 months ago

    Buy a less expensive house or consider a condo.

  • How do you think about the answers? You can sign in to vote the answer.
  • G R
    Lv 7
    5 months ago

    How old are you and where are you living now?

  • Tavy
    Lv 7
    5 months ago

    Get a full time job and bank the deposit.

  • 5 months ago

    You have the ability to support yourself but you would rather be on the dole?


  • Anonymous
    5 months ago

    Why can't you buy a house?

    Why can't you afford to pay rent?   Don't you have a job?

    You're stupid to blow the money on a car. 

    Figure out how to buy.   What's stopping you?

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