Affordable Housing

inigo · 15-05-2008 12:03pm

Thanks lola. 4 months!?! No idea which ones. But someone told us a couple of weeks ago that the Council had not yet bought the appartments...........

The_Conductor · 15-05-2008 12:07pm

inigo wrote: »

But someone told us a couple of weeks ago that the Council had not yet bought the appartments...........

I heard the same. Apparently they applied for a larger budget from Entemp, but were told it wasn't going to be increased. In the interim they are trying to renegotiate prices for the new units with developers.

bags · 25-05-2008 6:43pm

Read some of the above posts but not all....couldn't see the answers to the following questions that I have.....

I have an interview for an affordable house during the week.
Has anyone been to an interview recently? What kind of things do they want to know? What kind of things will they ask me? Should I bring anything with me? Do they interview a lot of people or am I fairly well on in the process that I might actually get a house after this interview?

Also......if I do get a house are they completely gutted that you have to start from scratch or do they sometimes come with a kitchen already fitted or what stage are they at? Or does it depend on the development?

As you can see I'm a bit clueless!

gurramok · 25-05-2008 9:44pm

bags wrote: »

I have an interview for an affordable house during the week.
Has anyone been to an interview recently? What kind of things do they want to know? What kind of things will they ask me? Should I bring anything with me? Do they interview a lot of people or am I fairly well on in the process that I might actually get a house after this interview?

Bring all your docs(Reference numbers, bank statements etc). Its a formal interview just to get the feel of the whole process where you can ask lots of questions.

bags wrote: »

Also......if I do get a house are they completely gutted that you have to start from scratch or do they sometimes come with a kitchen already fitted or what stage are they at? Or does it depend on the development?

Most developments leave empty shells for AH applicants maybe bar high rise apts.
It is stupid and discriminatory in my view in that you need to have lots of dosh aside to get your new gaff fitted out unlike other buyers.

GeckoOnTheWall · 22-06-2008 3:54pm

Hi all, Im wondering if u could help me.
I applied for AH with Fingal lat year and got approved for AH/Shared Ownership Scheme. TBH, I dont like what they have to offer at the moment, so Im thinking if I can opt out for AH Initiative. Do you know if I have to put my name down on another list? Do u know how it works with AHI? And also I have found www.affordablehome.ie recently, but from what I read on a diff. thread here some of the house offered there are long gone. So why do they still have them on their website (f.g. the one in Ongar)? Thanks.

confuzed · 22-06-2008 8:06pm

GeckoOnTheWall wrote: »

Hi all, Im wondering if u could help me.
I applied for AH with Fingal lat year and got approved for AH/Shared Ownership Scheme. TBH, I dont like what they have to offer at the moment, so Im thinking if I can opt out for AH Initiative. Do you know if I have to put my name down on another list? Do u know how it works with AHI? And also I have found www.affordablehome.ie recently, but from what I read on a diff. thread here some of the house offered there are long gone. So why do they still have them on their website (f.g. the one in Ongar)? Thanks.

I inquired last week. Basically its first come first get. You go to initiative page and three sites are left, all 2 bed apartments. Carrigton and Heywood in Santry are gone.
You need to fill a form but its formality and you will be shown an apartment. You like it go ahead, just like normal sale/purchase though any other EA.

Moon_Eyes · 24-06-2008 12:54pm

Hi there

As a first time trier never mind buyer, to get my head around saving for a mortgage which I still have not done yet but am now getting it together, at the age of 34, and on a salary of 40K, can I just ask the following question. Do you think I should wait for a year to get savings in order before applying to go on the list for DCC? A mixture of renting privately and bad spending habits lead to a few grand debt but that is now being cleared through a bank loan and the credit card is now no longer and a savings account has been opened, but with AH, do you a) need a deposit and b) is it better to have at least a years savings behind you?
My apologies if the questions are repeated ones but this is such a long thread that it was impossible for me to find the answers and also as the current climate is changing so quick, I know NOTHING about it at all...I would be interested in some subrban areas of greater Dublin and dublin City so therefore do I need to go on two lists? Again apols for repetitious questions - many thanks, M

irlrobins · 24-06-2008 2:05pm

Yes you'll need a deposit and yes it's good to have some savings set aside. Apart from the deposit you'll still need to have money to pay for solicitor, management fees, deposit for gas/elec, not to mention to buy furniture to kit out the place.

Dandelion6 · 25-06-2008 6:47am

You may as well put your name on the list as soon as you can. The odds of you being chosen for a property right away are fairly slim but the longer you're on the list the more times they enter you into each draw.

Moon_Eyes · 25-06-2008 8:56am

Thanks. Wasn't too sure if I'd be picked in next year while still saving and "waste" one of my chances if you know what I mean. Some people have said they waited 2 yrs, some people 6 months, and some people lucky enough for it to be a few weeks so it's hard to know. In the meantime there's always Lotto...good luck on the 17M tonight everyone! Thanks for the advice.

rikki2 · 03-07-2008 5:06pm

RIRI wrote: »

Hi all,

I just got a call from DCC with a provisional offer of a 2bed in Hampton Lodge on Gracepark Rd. This is from the last newsletter (July as far as I remember). This was our third draw - so for any of you thinking you'll never be offered anything - have faith!

Going to have to seriously consider this after we have viewed the apartment etc, we have a 3year old son & to be honest I don't know if I can see us living in an apartment as long as the clawback would require. There are other things to consider too, management agency fees etc..

Still we are delighted to be offered anything at all.. anyone else get offers this morning?

Hi Riri,

I got an offer 2 months ago and am still in the process of buying the property. I was wondering how it went for you. The Council seem to have changed the way they sell on these properties and I'm a bit in the dark as is also my solicitor.
As far as I was aware all I needed to provide was 3K booking fee then source a 100% mortgage. Now the Builders solicitors are looking for Eur3,600 more. No one seems to know if I should pay it

Bingles · 08-07-2008 1:09am

HIya I was just wondering if anyone would have aclue. we finally sign over on friday the house will be ours but I was just wondering does the soliciter have the keys to pass over or is it the counsil still we have to get them off?

Dandelion6 · 08-07-2008 6:43am

Bingles wrote: »

HIya I was just wondering if anyone would have aclue. we finally sign over on friday the house will be ours but I was just wondering does the soliciter have the keys to pass over or is it the counsil still we have to get them off?

When I got mine it was the solicitor who handed over the keys after all the documents were signed.

rikki2 · 08-07-2008 9:34am

Hiya, I signed contracts last tuesday. My Solicitor says she has to wait for the council to register their clawback. She says she is a bit vague where the council are concerned and asked me to ring them which I've done and they fobbed me off with telling me to get her to ring their law department. I'm getting increasingly frustrated with the whole process. No one can give me a date as to when to move in. The house I'm renting in is up for sale. This is going on since the 14th of April. I honestly thought I'd be in now as the apt is finished weeks ago.

Bingles · 09-07-2008 1:19pm

Dandelion6 wrote: »

When I got mine it was the solicitor who handed over the keys after all the documents were signed.

Thanks a million. Was that a new build? I just can't wait at this stage it seems to be dragging on so long we got mortgage approved in Dec and since then it just spiraled out of control.

Bingles · 12-07-2008 1:01am

Great news we signed over today and picked up the keys we are in at last 7 months after getting mortgage approval brilliant we are delighted now the hard work starts paying the mortgage and the loan lol

WRENALDO · 12-07-2008 1:25pm

18 months on the affordable housing list and i get a call up. Happy days!. I am told the area and check the development out on the internet. Each apartment comes with wooding flooring and fitted kitchens. However when i go out to view yesterday i am told that this does not apply to A.H. units.(it is bascially a shell) Now before people bite my throat off i am aware that afforadble houses are at a discount. The apartment i was offered is 193K and the council have a bogus real purchase price of 250k its more like 235/240k . Now the extra cost of flooring/tiling and fitting a kitchen would easily come to about about 10k making my price around 213K.This is less than a 10% reduction and i have give up most of my ownership rights i.e. the property will never be fully mine for 20 years and i cannot rent the whole property if i ever move my current job to somewere else. Surely the idea of affordable housing is to give less well off people a head start in the property market not penalising them from the get-go most develpoments now offer fitted kitchens etc as standard and some even new cars to entice buters. It is my view that these developers are now using this A.H. scheme to offload properties they would never be able to sell in the first place in the currect economic climate. I have received 4 offers in the last month having not heard a thing in the previous year . Surprise Surprise !

The_Conductor · 12-07-2008 3:21pm

Wrenaldo- what I'd seriously suggest is insisting that the council revalue the property to take current market conditions into account. Apartments in particular are diving at an unbelievable rate, along with townhouses/duplexes in managed complexes. Freehold properties and houses in particular are faring a lot better. Seriously- if you read this thread you'll see a lot of posters who have successfully had the council revalue their property downwards.

At the current sort of levels- you're almost as well off approaching the builder in a private capacity and offering to buy the unit (obviously at a significant discount to the current list price). I'd guess that the builder might bite your hand off........

The original idea of the AH scheme was to allow less-well-off to afford their own home. Unfortunately the way the property market is- and the totally unrealistic levels the AH scheme is set at- mean that almost 90% of the workforce qualify for the scheme- its thus not aimed at the less-well-off, but at the mainstream........

I do agree with you- a lot of developers are using it as a way of offloading unsaleable property in the current climate.......

astrofool · 12-07-2008 11:42pm

Affordable housing is also NOT for a start in the property market, with the 20 year clawback, it's meant to be a home to live in, for a good portion of your life, certainly not a 3-5 year stretch.

Whoever got the idea of a property "ladder" out there is a genius, more money for the government, solicitors and estate agents as people go from rung to rung. I would not take on a mortgage for longer than I planned on staying, or could stay, in the property.

WRENALDO · 13-07-2008 2:20pm

well astrofool i could rent were I am for the next twenty years and pay somebody else's mortgage or try and get into a place of my own and pay off my own mortgage . Would this not count as a "START" in the property ladder whether i live there for 20 years or move out after 5 !

The_Conductor · 13-07-2008 7:15pm

WRENALDO- you're actually not paying anyone's mortgage when you rent at current levels- on the contrary landlords are actually subsidising tenants at current yield levels. You can certainly get a place of your own and pay your own mortgage- which is the mania that has ensnared most buyers in the past few years- or you can hang on and buy when conditions improve (i.e. when you can purchase a property that you are happy to live in longterm which is within your financial means.

Have you had a chance to look at the affordable properties? Are you in a position to put in your kitchen, flooring, basic furniture etc? In most cases these are not automatically included with an AH.

Just because you are offered an affordable home- does not mean that you should blindly accept it- you need to approach this as you would any major longterm decision- with your eyes wide open and in possession of all the facts.

S.

astrofool · 13-07-2008 8:30pm

WRENALDO wrote: »

well astrofool i could rent were I am for the next twenty years and pay somebody else's mortgage or try and get into a place of my own and pay off my own mortgage . Would this not count as a "START" in the property ladder whether i live there for 20 years or move out after 5 !

Or you could save a larger deposit, work harder to get your wages up, and buy a 3/4 bed house with good accessiblity (i.e. not in a "commuter" town, but actually near where you want to be).

Your "START" costs you your first time buyer allowance, part or all of your TRS, the legal fees, and estate agent fees to sell (1-2%). If you can see yourself being able to stay in an affordable property for at least the next 10-15 years (i.e. it has room for you to grow), then it will be worth it, if you are buying it just to move out a few years later, you are far far better renting. The sooner developers realise they need to build homes for people and their families, the better.

Mailman · 13-07-2008 8:58pm

WRENALDO wrote: »

18 months on the affordable housing list and i get a call up. Happy days!. I am told the area and check the development out on the internet. Each apartment comes with wooding flooring and fitted kitchens. However when i go out to view yesterday i am told that this does not apply to A.H. units.(it is bascially a shell) Now before people bite my throat off i am aware that afforadble houses are at a discount. The apartment i was offered is 193K and the council have a bogus real purchase price of 250k its more like 235/240k . Now the extra cost of flooring/tiling and fitting a kitchen would easily come to about about 10k making my price around 213K.This is less than a 10% reduction and i have give up most of my ownership rights i.e. the property will never be fully mine for 20 years and i cannot rent the whole property if i ever move my current job to somewere else. Surely the idea of affordable housing is to give less well off people a head start in the property market not penalising them from the get-go most develpoments now offer fitted kitchens etc as standard and some even new cars to entice buters. It is my view that these developers are now using this A.H. scheme to offload properties they would never be able to sell in the first place in the currect economic climate. I have received 4 offers in the last month having not heard a thing in the previous year . Surprise Surprise !

If there are still unsold properties I'd really love to know how much the developer would want outside the affordable housing scheme.
If you don't find out now it'll niggle at you every month for the next 20 to 25 years when the mortgage payment goes out of your account.

walshy123 · 28-10-2008 5:16pm

just got offered a 1 bed in tallaght cross. i was really looking for a two bed so i reckon ill be declining this, but will head out for a viewing anyway. but before i do...

does anyone know anything about this development. prices start at 175k for one bed, i'd love to know what is the private purchase cost on these apartments at the moment but per the website they are sold out.

DJDC · 28-10-2008 6:09pm

WRENALDO- you're actually not paying anyone's mortgage when you rent at current levels- on the contrary landlords are actually subsidising tenants at current yield levels.

Excellent way of looking at it. However mathemathical literacy is not something prevalent amongst the young Irish population. The "rent is dead money" attitude has ensured many can now look forward to years of negative equity.

The_Conductor · 28-10-2008 6:11pm

DJDC wrote: »

Excellent way of looking at it. However mathemathical literacy is not something prevalent amongst the young Irish population. The "rent is dead money" attitude has ensured many can now look forward to years of negative equity.

I gave up trying to explain this a long time ago. I only got depressed.

batman_oh · 29-10-2008 2:29pm

DJDC wrote: »

Excellent way of looking at it. However mathemathical literacy is not something prevalent amongst the young Irish population. The "rent is dead money" attitude has ensured many can now look forward to years of negative equity.

Not just the young, pretty much all the people i work with that are older and some in very good jobs seem to have the same opinion. Its highly frustrating as its so ingranied its like talking to a dumber than average brick wall that gets angry when you point out the facts!

BrightonRoad200 · 24-11-2008 2:52pm

Affordable Housing, Share Ownership, Decision Time - Thoughts
I put down a deposit of €3,000 and this will start the ball rolling. I’m getting the property with Dublin City Council. I have being given the apartment for €258,000 down from €272,000 at a current market valuation.
My main concerns are:
None of the apartments are owned yet but the developer through a management company is renting them out, there are about 200 of them. The developer has not sold any of them yet.
House’s/Apartments are dropping in the current market so the properties could be 20% cheaper this time next year.
Yes or no, will I go for it and what would your thoughts be?

The_Conductor · 24-11-2008 3:13pm

If you're paying EUR258 and the open market value is less than 20k higher than this- and definitely going ahead with the purchase- I'd suggest foregoing the Affordable Housing scheme altogether, and simply buying on the open market. The mortgage flexibility (such as availing of AIBs 1 year fixed at 2.5% for first time buyers) will more than offset any upfront benefit of the AH scheme- plus you have no contractual obligations to the council etc.

S.

Mailman · 24-11-2008 3:20pm

How much is your mortgage protection insurance. If it's with the county council you'll probably find it is much higher than the open market going rate.

Affordable Housing

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