New Developments

Mrs_Doyle

Hi,

As I mentioned in another thread, I have applied for the shared ownership scheme.
It is hopeful that I will be approved, and if I am approved, I need to get the best possible value for my money.
I have been trawling the net looking at all the up and coming developments with my region, D.C.C, but most of these developments are pretty much completed, or already fairly established, and most of the cheaper properties have been sold.
I would like to know which site/newspaper etc I should go to, to find out about brand new developments.
Stuff that might not be completed for another 10 months - a year, so as to maximise my chances of getting something decent, within my price range, off plan.

Can anyone tell me where these developments are announced when in their very early stages?

6th

A good few estate agent websites have news about upcoming developments:

http://www.dng.ie/search_newhomes_list.cfm?opt=2

jdivision

Got to the selling agents websites: Hooke & MacDonald, HOK and Sherry FitzGerald are the main three and gunne are increasingly active. Also if you're looking in Dublin buy the Irish Times on a thursday and The sunday business post on a sunday - they're the main ones for Dublin. The Irish Indo will have a lot of ads too on a friday

Mrs_Doyle

Thanks for that. I'm actually finding this part of the whole thing, the Finding a property within my budget, part, really difficult.

Its 30 years since my parents bought their home, and back then you applied for a normal mortgage based on your earnings and savings, and generally you could actually afford to meet your mortgage requirements.
My folks have no clue of the Shared ownership scheme, and none of my friends have used it either.

Actually, MOST of my friends have yet to purchase their first homes, so I am kinda lost as to getting advice from people who have actually done it, and come out the other side.

I will check out that link, and those papers, and pray to God I find something that suits, Cheers!

jdivision

A lot of people don't like the shared ownership scheme because you're paying to rent part of your house and then you have to pay market rate to buy out the council. For this reason and because prices were growing so quickly the affordable housing list became more popular. However, prices are levelling off now so it may increase in popularity particularly given the eejits in the Govt decided to introduce a minimum salary of e45k to buy a place. I can comfortably afford my mortgage but wouldn't have had the salary to buy the place I bought if it had come up then. It's ridiculous.
Anyway, if you tell me your budget i can give you details on likely locations where you should look. Is second hand an option? You can pm me if you don't want to put it here, I am involved in a peripheral way in property (not an estate agent or anything like that) so have an idea of what costs what where

Mrs_Doyle

jdivision wrote:

Anyway, if you tell me your budget i can give you details on likely locations where you should look. Is second hand an option? You can pm me if you don't want to put it here, I am involved in a peripheral way in property (not an estate agent or anything like that) so have an idea of what costs what where

Well the most D.C.C will grant me is €250k, and the maximum property price can be €275k (assuming I have 25k savings toward what D.C.C gives me.)

I can purchase a 2nd hand home, a brand new home, and can even buy from plans, providing I present D.C.C with the plans and they approve them.

In a dream world, I would love to get my hands on a 2 bed, even a small ground floor 2 bed, so that I could rent the extra room to a friend, which would help me with my repayments, and make it easier for me to save so that I cna buy out the council.

I live in Whitehall now, but I am willing to move to pretty much anywhere within the D.C.C region. However, I must admit that Ideally I would stay close to home, and so D.9, D.11, D.13, and D.17 would suit me best.

jdivision

PM sent

starky

Mrs_Doyle wrote:

Well the most D.C.C will grant me is €250k, and the maximum property price can be €275k (assuming I have 25k savings toward what D.C.C gives me.)

I can purchase a 2nd hand home, a brand new home, and can even buy from plans, providing I present D.C.C with the plans and they approve them.

In a dream world, I would love to get my hands on a 2 bed, even a small ground floor 2 bed, so that I could rent the extra room to a friend, which would help me with my repayments, and make it easier for me to save so that I cna buy out the council.

I live in Whitehall now, but I am willing to move to pretty much anywhere within the D.C.C region. However, I must admit that Ideally I would stay close to home, and so D.9, D.11, D.13, and D.17 would suit me best.

hey, I just found your posts here, I posted after an old post of yours. by the way check out:

http://www.dublincity.ie/living_in_the_city/your_home/housing_services/buying_your_home/private_house_purchase_loan_scheme/shared_ownership_scheme.asp

According to this they have upped the loan amount that DCC are giving:

“The maximum loan is €275,000. You may add verifiable savings of up to €38,000. However, the maximum house purchase price is €300,000. “

Maybe you should get back on to them and ask can you get some more! :-)

I posted to ask about the mortgage (700) and rent (450) figures you mentioned before. What % of ownership is that based on? (ie 40% or 50% etc)