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Shared Ownership Q's??

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  • 13-11-2006 3:40pm
    #1
    Kimbot
    Moderators, Computer Games Moderators, Social & Fun Moderators Posts: 18,560 Mod ✭✭✭✭


    Folks me and the G/F got approved for the shared ownership but have come across a few problems!! We can't get enought to buy a nice house but there is enough to build one!!

    The council say you need your own land with planning permission first, is there anyway around this so we could get the land/pay for house to be built together??


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    #2
    Idleater
    Registered Users Posts: 6,236 ✭✭✭Idleater


    jonny24ie wrote:
    We can't get enought to buy a nice house ....is there anyway around this...

    Here is a wild shot in the dark- Buy something you can afford rather than something you want to afford.

    Why do you need to get something "nice" that you can't afford?

    The current housing climate is not the best for buying beyond your means - especially by "getting around" the system.

    L.


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    #3
    Kimbot
    Moderators, Computer Games Moderators, Social & Fun Moderators Posts: 18,560 Mod ✭✭✭✭Kimbot


    We can afford to buy plenty of houses with what they have given us but in all fairness we are not going to move into a house we don't like!!

    We want a semi-d house with a nice garden (for my son to use) & 3-4 bedrooms! Thats not much to ask but we are getting it in the country and the prices are over €20,000 over how much we have to spend!! If we built a house and bought land it would be approx 50,000 under what we are given for the house we want to build so its not a matter of getting around the system, just a matter of getting something we like and not getting ripped off, at the end of the day its people giving money without looking at what they can have that is driving prices up!!


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    #4
    Idleater
    Registered Users Posts: 6,236 ✭✭✭Idleater


    jonny24ie wrote:
    ...at the end of the day its people giving money without looking at what they can have that is driving prices up!!

    yeah, like you.

    It is a buyers market - not a seller's one. Have you not noticed the auction failing to sell? The For Sale signs up for months on end?

    If you can afford to wait, then put in an offer of what you think the house is worth in the current climate. Sooner or later the seller will have to sell if that is what they want.

    Otherwise, if you are so sure that building your own house is so much cheaper why dont you just go out and make an offer on a plot of land?

    L.


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    #5
    Victor
    Registered Users Posts: 78,394 ✭✭✭✭Victor


    jonny24ie wrote:
    We want a semi-d house with a nice garden (for my son to use) & 3-4 bedrooms!
    You and your son don't need 4 bedrooms. Part of the problem at the moment is people are buying or hoarding much more than they need.
    If we built a house and bought land it would be approx 50,000 under what we are given for the house
    Don't be so sure of this. Does it include site development costs, planning contributions, design?

    The difference between [cost of land + cost of construction + sundries]and the cost of a completed house should be no more than 10%.


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    #6
    Kimbot
    Moderators, Computer Games Moderators, Social & Fun Moderators Posts: 18,560 Mod ✭✭✭✭Kimbot


    Well we were hoping for 4 bedrooms because we want to make one into an office but most of the Detached (I should have said this and not semi-d) in the location we are looking for is 4 bedroom houses!!

    To build the house and buy the land with all the cost would be approx 50,000 cheaper than our threshold from the council because I can do alot of the work along side the developers to keep the costs down!!


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    #7
    Idleater
    Registered Users Posts: 6,236 ✭✭✭Idleater


    jonny24ie wrote:
    To build the house and buy the land with all the cost would be approx 50,000 cheaper than our threshold from the council because I can do alot of the work along side the developers to keep the costs down!!


    So what exactly are you asking to get away with then?

    If it is such a no brainer...


    L.


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    #8
    Kimbot
    Moderators, Computer Games Moderators, Social & Fun Moderators Posts: 18,560 Mod ✭✭✭✭Kimbot


    Well the council will only allow you build your own house if you already own the land and have full planning permission on it already!! I am just wondering if there is anyone that has found out if it is possible that the developer etc buy the land on your behalf and add it in to the price of the building!!


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    #9
    antoinolachtnai
    Registered Users Posts: 9,787 ✭✭✭antoinolachtnai


    Sure, but the developer will want his premium. He's not going to get involved unless there is 30 or 40 grand in it for him. He will have to finance the land while the house is being built and PP is being sought (not necessarily in that order). Also, he's probably not going to want unpaid labour on his site.

    You could try and get some sort of development/bridging loan from the bank. But to be honest, unless you have a lot of experience with self-build, it will be hard to convince them.

    Still, if you know someone, you might be able to make a deal.


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