Rent to Buy?

Multivan

Anybody hear about this?

I was watchin the 9 oclock news and theres a scheme in Wexford where you can rent a house a new scheme and after 3 years you can use the rent that you used for the 3 years off the price of the house!

Example the house was 195,000 and after 3 years rent it was like 25,000 which went off the house price or if you werent interested you could just leave but, all you have to do is save the deposit!

What a good deal that sounds like!

I would be interested!

Is there anywhere in Waterford or any plans to do this in Waterford!

It sounds like the perfect antidote to rvitalise the economy!

lester76

Thats sounds like a great idea i must say. I have just today recieved a letter from the council about AFFORDABLE HOUSING in tramore, now get this 2 bedroom mid terraced house in ROSS MHUIRE, CROBALLY UPPER 182K OR 3 BEDROOMED END TERRACE & MID TERRACE HOUSES IN CLAIRNWOOD 180K-185K now they call this affordble im lost for words. I was soo shocked by the price i reached for the fridge and pulled a few cold one's, i mean **** 185k on my own in todays climate :eek::eek::eek:

Multivan

lester76 wrote: »

Thats sounds like a great idea i must say. I have just today recieved a letter from the council about AFFORDABLE HOUSING in tramore, now get this 2 bedroom mid terraced house in ROSS MHUIRE, CROBALLY UPPER 182K OR 3 BEDROOMED END TERRACE & MID TERRACE HOUSES IN CLAIRNWOOD 180K-185K now they call this affordble im lost for words. I was soo shocked by the price i reached for the fridge and pulled a few cold one's, i mean **** 185k on my own in todays climate :eek::eek::eek:

Ah hold on to yer money!

I was offered a house here for 210 four bedroom mind on the affordable or 190 for 3 bed, but i felt like was making a sacrifice you have to be sure!

I saw this on the 9 news tonight! if i was offered one id go with that! you save 3 years rent off the price of a house and then you can also save for the deposit so you have 3 years to save and it stays at the same price from when you rent it!

Sounds like a great deal and a good way for the economy to get going!

Dont forget theres lots and lots of empty housed out there!

I think in the future there will be some great deals to be had!!!!

Hold your nerve! I was very close to signing just before christmas!!!! nah!!!

lester76

Dont you worry there is no way im going for that price:eek: il sit tight i have waited this long i can hold out oh i dont know another 2 or 3 yrs lol. fecking country is a wash with house's they cant shift now the council are trying to off load at a huge price for as they call it AFFORDABLE HOUSING who are they trying to kid:mad::mad:

fifth

Yeah I noticed this in a window the other day - i'm from wexford - was wondering what the craic was with it.

Multivan

funkyflea wrote: »

Yeah I noticed this in a window the other day - i'm from wexford - was wondering what the craic was with it.

It was just outside Wexford Town, and they werent bad nice new houses like!

Im not a big fan of new houses i think they were built to a very small spec like the standards, well i mean the spec i got into a cousin of mine attick one time and as i was climbing up i put my hand on a rafter or a cross beam and it nearly buckled under my weight, A new house? standards have gone down to push up profits, its sad that in society really theres more of a rush for money and profit than doing something to be proud of and that makes people happy at the same time making good money!!!

Well times are changing anyway and they are going to have to fight each other to get us buying their products and start delivering service with a smile eh!!!

learnerplates

Be careful with these new (unfinished) estates, they may never be completd, developers will be gone and the bank will own them, who will maintain them, also the HSE will be moving in the asylum seekers etc into these estates, try to sell the cheap house in a few years, not a chance.

Todays paper also says interest rates will be dropping in the coming months, also of course the prices are due to drop by another 20% this year.

Hold Hold Hold.

old gregg

what about a nice little spot in the 'gated community' up near the rock

FullHD

God it looks like everyone is sitting on the fence. Im in fear of falling off with the weight of everyone else and the cash in my pockets. Think i will stay for another 1-2 years, until i can buy for 50-60% of the boom years.
I may have no job then, but i will have no mortgage either.
:):):)

Multivan

I agree with most of you but its a good deal the buy to rent!

I personally would like to move just outside the city into a bungalow on its own grounds,

But they are also a very expensive option for a good old house which is what i would call normal standard,

I had my eye on one there which was a 3 bed bungalow in Butlerstown for 420,000 euro,

That cant be right! I think your buying a standard of living though!

I wonder what level they will fall to?

But theres no doubt about this buy to rent scheme it is good value but like most things there a plus and a minus side to it!

FullHD

Just listened to newstalk this morning and im sure the guy from daft said that they had 60,000 houses for sale in Ireland. I checket it and it says 70,000. Im 99.9% sure when i looked at it on Sat that it said 91,000.
I know Daft is an Irish site, but i dont think that there is as many houses for sale per population in any country in europe.
I can see many more for sale by the end of the year and a very nasty crash. Then i will hop off the fence with my wad of cash and no mortgage to pay.
:):)

Cabaal

Perhaps they meant rent and to buy?

FullHD

No, on the site it is clearly 70000 for sale.
If he meant to "rent and buy" on the radio, then the number would be greater than 70000, not less.

FullHD

Actually i think the problem is the site, it is confusing.
If i select Sales and pick all of Ireland, it is 55,000
If i pick Overseas and select Europe->Ireland it says 91,000
Eitherway there is a &*IT LOAD of houses for sale.
Maybe there is another Ireland (the people who voted yes to lisbon or the Irish tax haven)

Multivan

I put my name down anyway for the rent to buy scheme,

The whole thing started when i saw this on the news about a scheme run by Sherry Fitzgerald in Wexford.

I rang them here in Waterford and she said there was interest in it and that i could put my name down if a scheme came up here in Waterford,

Get dialing people if we all dial those digits and put our names down maybe the scheme will get put into motion here in Waterford

Just call Sherry Fitzgerald

lester76

It was mentioned on rte news at 6pm today about this,i think its the way forward im going to ring meself thanks man;)

Multivan

lester76 wrote: »

It was mentioned on rte news at 6pm today about this,i think its the way forward im going to ring meself thanks man;)

Fair play! I normally watch the 6 oclock news didnt catch it today mind, I reckon if enough people ring sherry fitz they will contact the builders whos houses arent selling and say we have a heap loada people here to take those houses off your hands.

My new motto in life is power to the people! people power is the way forward man!!!!:D

Typewriter

Cheap as chips and still falling.

You just have to feel sorry for those who bought last year.

FullHD

"Cheap as chips"

I prefer peanuts, will wait another 6-12months until all the Polish leave Ireland and every second house will be for sale or rent.
And i feel sorry for nobody!
I have been listening to everyone go on and on and on about their new houses and holiday homes for the last 10 years.

Yogabba

This is a terrible idea. Do you really think that a scheme like this would be offered unless the the developers were certain that prices will fall further?
I mean, there were no schemes like this back in 2006, right?

lester76

Prices are sure to fall between 10-12% in the coming year,so they will have no choice but to offer such deals. Its a buyers market now so in 6 or 12 mths time its going to be even better,for the first time buyer of course:D:D

Yogabba

Yes but if you sign up to a scheme like this you are stuck with an overinflated price at the end of the three years, plus you won't be able to negotiate your rent as it is fixed @ 750 E. Rents will also fall but people who are taking part in this scheme will see none of that.

In three years time they'll be lucky to even get 80k for those houses.
A few years ago all the estate agents claimed that 'rent is dead money' and now all of a sudden renting is the bees knees?
Call their bluff I say and they'll be forced to cut prices to their REAL value.

learnerplates

Indeed it's amazing how people here can be fooled a second time by advertising, this time telling people that they're getting a bargain and buy quick before they're all gone. Same story all over again.
Wait and get them at rock bottom prices to buy straight without rent first.

Multivan

The only problem is i am looking to get a 35 year mortgage i suppose if the prices drop so low i dont need a 35 year mortgage plus nobody know when anything is going to stop going down or up i know it aint gonna go up for some time at least