Rent To Buy in Waterford

Evelynmc

Hi i know there is a section specifically for housing/property but i want my post to be area specific...

Im becoming interested in the idea of the rent to buy option, does anyone have any advice on it?

Also, I just did a quick search and nothing came up for any properties in Waterford that use this scheme, does this not exist here yet or what is the story?

hearny

The Apartments in Waters Gate in Bilberry did offer this, not sure if the still do or if they do with the houses.

The apartments are lovely too.

Evelynmc

Just to clarify, If it was available i wouldn't go for an apartment they are so annoying to live in, i would be looking at a 3/4 bed house depending on the price and how much rent i wud have to pay per month until i decide whether to buy or not

Not The Real Scarecrow

Think one of the housing estates out by avondale do it.Seen a big billboard there saying it.

eimearos

you are right. i live in greenfields beside avondale and they do rent to buy. nice estate to live in, no trouble and very quiet which is what everyone wishes for! ring noel frisbys office and they can sort you out from there. Happy house hunting

Evelynmc

Meh,... Im kinda fussy about where it is, i don't want to be too far out from ferrybank =p actually would love if there were some in ferrybank im a kilkenny woman so i want to be as close as i can to family etc =P

I know i cant really be too fussy but ferrybank has a different feel to it than places like avondale which feels like your stuck in the city, ferrybank feels better that way, just feels closer to countryside

yosser hughes

Don't know Waterford but rent-to-buy is a very very bad idea for the potential buyer particulalrly in a falling market. Forget about it.

eimearos

no prob, but didnt see/hear of any other places for the rent to buy option in waterford! hope u find somewhere! oh and old tramore road is literally a few mins from countryside too and its in waterford which is better lol :-)

dayshah

Is this like hire purchase? I'd be very cautious before buying a house on hire purchase.

wickedelphie66

yosser hughes wrote: »

Don't know Waterford but rent-to-buy is a very very bad idea for the potential buyer particulalrly in a falling market. Forget about it.

Myself and the OH have just bought our 'Rent to Buy' house. When we originally moved in the price was €270000, now it is valued at €165000 and that is what we got it for fully furnished. 100% of our Rent was used as the deposit and now are repayments are half what are Rent was.

We have had the best experience with the scheme as we now have a house that we could not have afforded if we had just saved (on top of renting) for the last two years.

savic04

Evelynmc wrote: »

Meh,... Im kinda fussy about where it is, i don't want to be too far out from ferrybank =p actually would love if there were some in ferrybank im a kilkenny woman so i want to be as close as i can to family etc =P

I know i cant really be too fussy but ferrybank has a different feel to it than places like avondale which feels like your stuck in the city, ferrybank feels better that way, just feels closer to countryside

Obviously you dont the Greenfields estate area..
I can bet ferrybank isnt closer to the countryside for sure

within 2 mins walk you have all the countryside you need and 2 mins the other way has all the shops/pubs schools you need

i dont even live in greenfields btw

michellie

savic04 wrote: »

Evelynmc wrote: »

Meh,... Im kinda fussy about where it is, i don't want to be too far out from ferrybank =p actually would love if there were some in ferrybank im a kilkenny woman so i want to be as close as i can to family etc =P

I know i cant really be too fussy but ferrybank has a different feel to it than places like avondale which feels like your stuck in the city, ferrybank feels better that way, just feels closer to countryside

Obviously you dont the Greenfields estate area..
I can bet ferrybank isnt closer to the countryside for sure

within 2 mins walk you have all the countryside you need and 2 mins the other way has all the shops/pubs schools you need

i dont even live in greenfields btw

Exactly greenfields is surrounded by fields lol

I live there.

nkay1985

michellie wrote: »

Exactly greenfields is surrounded by fields lol

I live there.

And what colour are those fields?

michellie

nkay1985 wrote: »

michellie wrote: »

Exactly greenfields is surrounded by fields lol

I live there.

And what colour are those fields?

Blue.

yosser hughes

wickedelphie66 wrote: »

Myself and the OH have just bought our 'Rent to Buy' house. When we originally moved in the price was €270000, now it is valued at €165000 and that is what we got it for fully furnished. 100% of our Rent was used as the deposit and now are repayments are half what are Rent was.

We have had the best experience with the scheme as we now have a house that we could not have afforded if we had just saved (on top of renting) for the last two years.

Glad to hear you are happy and that the price agreed was todays valuation not what it was back when you moved in,as is often the case in rent to buy schemes.

spankmemunkey

Just on the issue of Rent to Buy i heard that Noel Frisby homes or at least the ones i was looking at, it was you payed the agreed price when you move in and not the market value, so say its over 3 years you have to pay the price you agreed when you moved in first at the end of the 3 years rental, and either buy it using the rent you payed over the 3 years as a deposit which was 700 euro a month and 600 euro a month you kept upon purchase so thats waht 7200 per year by 3 is 21,600 and thats your deposit or it comes off the price you agreed when you first moved in.

If youve signed up for rent to buy 3 years ago you would have signed up for a house for 250,000 on average. I dont think they could seriously ask people today to go ahead and pay 250,000 for a house thats probably only worth 140 now, however surely if the buyer renegs on the valuation then they cant agree to give them back the 21,600 as theyve broken the agreement they signed? however if you were to walk away and say nah not for me and simply get mortgage approval now for 140 you could go back and buy it then?

I know the above may read confusing, so sorry. English is not my first language!