About to apply for Affordable House

Kur4mA

Hi all, I'll be applying within the next few weeks hopefully and I'm curious to know anyones recent experiences with the Affordable Housing regarding areas being offered? Are there any Houses offered or just Apartment and how long is the current wait time etc?

ellejay

What area are you applying in?

I applied in wicklow myself.

Originally I was only offered apartments, as that's all that was in my price range, according to wcc. On the list for four years.

The last letter of offer I got was a 4 bed semi!!
However, just not in my area of preference.

Houses on the open market are a lot cheaper than houses being offered through the affordable housing scheme.
It seems to me, that wcc agreed to pay x amount to builders/developers, but now houses in same estates are being sold cheaper on open market.

One apartment I was offered by wcc through affordable housing, was a three bed, ground floor.
It was still in construction, but similiar apartments were already built. I knocked on the door and the owner kindly agreed to show me around. His apartment was same square footage but only a two bed. His apartment had an ensuite and bigger bathroom.

WCC wouldn't give me floor plans so I'd no idea of layout etc. I was very very glad I saw what the two bed was like, it was quite small. Couldn't imagine it as a three bed.

Hope that's helpful to you, but my advice, is stick to the open market.
In my opinion, a lot of the affordable housing stock are badly located and over priced.

Personally, I'm buying through the open market as I won't be tied down to the claw back.


Regards,
Lj.

Kur4mA

Thanks for the info.

Unfortunately the open market isn't an option for me and renting is starting to kill my wallet, hence me going the Affordable route. I'm applying to Fingal County Council in Dublin.

Zamboni

kyub wrote: »

Thanks for the info.

Unfortunately the open market isn't an option for me and renting is starting to kill my wallet, hence me going the Affordable route. I'm applying to Fingal County Council in Dublin.

If you are not in a position to buy in the open market, you are probably not in a position to buy via affordable housing.

D3PO

Zamboni wrote: »

If you are not in a position to buy in the open market, you are probably not in a position to buy via affordable housing.

true but Id go more with if renting is killing his wallent then he is probablly not in a position to buy via affordable housing.

Kur4mA

Erm... ok.

1. You don't know how much rent I pay.
2. The entire point of the affordable housing scheme is for people like me isn't it? People who are in the unfortunate position of the open market not being viable.

But yeah, cheers lads.

Zamboni

kyub wrote: »

Erm... ok.

1. You don't know how much rent I pay.
2. The entire point of the affordable housing scheme is for people like me isn't it? People who are in the unfortunate position of the open market not being viable.

But yeah, cheers lads.

Are you saying that you have no other available option but to willingly enter a long term contract to purchase property at a higher price than what it is going for on the open market (which is overvalued anyway)?
I find that hard to believe. But best of luck.

Kur4mA

Available? Yes.
Viable? No.

Tell me what the other options are apart from continuing to put money into the pocket of a landlord who doesn't even live in the country...

Anyway, getting back on topic. Is there anyone who has recently gotten an affordable home via Fingal County Council?

ellejay

kyub wrote: »

Erm... ok.

1. You don't know how much rent I pay.
2. The entire point of the affordable housing scheme is for people like me isn't it? People who are in the unfortunate position of the open market not being viable.

But yeah, cheers lads.

Previous comments are only trying to help you!

The criteria for affordable housing are quite strict.

Regardless of how much rent you pay, your mortgage repayments cannot exceed more than one third of your NET pay.
You cannot rent out your house if times get tough.
Huge clawback if you have to sell before 20 years.

Also, you are pushed further up the AH list if you are seen to have a NEED for housing (eg lone parent, living in overcrowded home, abusive family.)

About 3/4 years ago, the AH scheme was seen as value for money.
But not now as houses on open market are cheaper(because council's got tied into contracts to buy at higher prices from builders.)

Soooo, I guess posters are trying to say that if you can't afford to buy on open market, how can you afford to buy through the AH scheme?

Kur4mA

I know what the criteria are and I can afford it. I never said that I couldn't.

I said that paying rent was starting to kill my wallet. Kill it as in wtf am I doing paying ridiculous rent to somebody living the high life overseas when I could get a roof over my own head.

My main issue with buying on the open market is the rent I'm paying is killing my chance of saving for a deposit which means its a struggle to get the money together... other than that I'd jump at the chance believe me.

Snakeblood

kyub wrote: »

I know what the criteria are and I can afford it. I never said that I couldn't.

I said that paying rent was starting to kill my wallet. Kill it as in wtf am I doing paying ridiculous rent to somebody living the high life overseas when I could get a roof over my own head.

My main issue with buying on the open market is the rent I'm paying is killing my chance of saving for a deposit which means its a struggle to get the money together... other than that I'd jump at the chance believe me.

Move somewhere cheaper and save a deposit? Ask for a lower rent in the place you are? That seems like the sensible option.

I had an affordable housing apartment, and it was murder. Cheaper initially, but impossible to shift once my life changed (had a kid etc.). Affordable houses in general are apartments because it's cheaper for developers to make crappy apartments than houses and sell them to whatever council, like the offcuts of a piece of meat. The standard I've seen for them has been incredibly poor, and in whatever estate etc. you are offered, they will be in the worst, furthest position from the exit, because the developers who built them don't give a **** if they sell or not because it's the council who bought them off them.

irlrobins

kyub wrote: »

My main issue with buying on the open market is the rent I'm paying is killing my chance of saving for a deposit

I would have thought you'd still need to provide a deposit if you buy an affordable home too. I don't think any bank is going to provide 100% mortgage, AF home or not.

I'd also add the advice that if you can't save a deposit when renting, then you might find it a struggle to maintain a home if you did manage to purchase one. The money you pay in rent now will just turn into a mortgage payment. so where will you get the money to kit out the place, pay service charges, tv licence, insurance, etc.The costs don't end with the purchase price of the property.

bitter_lemon

i would have thought there was no saving in expenses in affordable housing these days like there was a few years ago. DCC must be dying to offload their properties!

jackal

ellejay wrote: »

Houses on the open market are a lot cheaper than houses being offered through the affordable housing scheme.

kyub wrote: »

Thanks for the info.

Unfortunately the open market isn't an option for me and renting is starting to kill my wallet, hence me going the Affordable route.

What a screwed up market. Affordable houses are dearer than the open market. Does this not set alarm bells ringing?

With regard to renters funding the high life for property investors... I seriously doubt it. Have the last 5 years passed you by?

Most (recent) landlords are subsidising their tenants to live in the properties, as mortgage repayments including capital will generally be substantially more than the property rents for.

Kur4mA

irlrobins wrote: »

I would have thought you'd still need to provide a deposit if you buy an affordable home too. I don't think any bank is going to provide 100% mortgage, AF home or not.

I'd also add the advice that if you can't save a deposit when renting, then you might find it a struggle to maintain a home if you did manage to purchase one. The money you pay in rent now will just turn into a mortgage payment. so where will you get the money to kit out the place, pay service charges, tv licence, insurance, etc.The costs don't end with the purchase price of the property.

I'm paying roughly 300 Euro more than the monthly mortgage payment would be at the moment and paying TV license and other expenses including bills on top of that, so I'll be able to manage to be honest.

Also, 100% mortgages are still possible with the Affordable Housing Scheme hence me biting the bullet and applying.

Aaanyway, this thread really hasn't served it's original purpose. Feel free to continue the discussion folks or mods close it if you like.

Kur4mA

jackal wrote: »

What a screwed up market. Affordable houses are dearer than the open market. Does this not set alarm bells ringing?

With regard to renters funding the high life for property investors... I seriously doubt it. Have the last 5 years passed you by?

Most (recent) landlords are subsidising their tenants to live in the properties, as mortgage repayments including capital will generally be substantially more than the property rents for.

My landlord is a Doctor and doesn't live in Ireland. I'll say no more...

DubDani

kyub wrote: »

My landlord is a Doctor and doesn't live in Ireland. I'll say no more...

I don't believe that there is a single bank in Ireland that will give you a 100% mortgage, not even for afordable housing.

Looking at the Booklet from FCC you will need at least 3% deposit even when going with their own financing option, plus money for the costs of purchasing.

jackal

kyub wrote: »

My landlord is a Doctor and doesn't live in Ireland. I'll say no more...

Ok, well I would not generalise the rental market by taking one example. I am renting in a nice part of south dublin for less than I would be paying on a mortgage - if I could get one at the moment, which is doubtful.

I looked into the affordable scheme, and at the time it had so many restrictions and the prices remained high while the market was dropping like a stone. I know they have dropped a lot of the restrictions which were designed to stop investors. The prices are still too damn high, the councils agreeed to buy these properties years ago at stupid prices and are trying to claw back as much of that as they can from the buyers to avoid a huge hole in their balance sheet, so keep that in mind. If they are good value, good luck.

debbie353

kyub wrote: »

Hi all, I'll be applying within the next few weeks hopefully and I'm curious to know anyones recent experiences with the Affordable Housing regarding areas being offered? Are there any Houses offered or just Apartment and how long is the current wait time etc?

Just wondering how you got on??? Any updates? I'm in a similar position to you, I sent my forms in last week and Dublin City Council called me Friday to confirm i'm on the system.

I filled out the common form so I can apply to all the county councils but was advised apply diresctly to the ones I am interested in directly. So more forms to complete & send now to Fingal.

How have you gotten on so far??