Affordable "Housing" Scheme/Initiative in Dublin - is it really any good?

long_boy

I've been considering the prospect of getting an affordable house in Dublin though either the scheme or initiative options. I'm particularly interested in DCC for reasons of being central, avoiding long commutes etc etc and it's where I've grown up and would like to stay. The industry that I'm in is also somewhat volatile so it's not practical to be based near where I work now.

I've looked at the latest initiatives in Malahide Cross and Santry from the governments 500 "houses" they've purchased and they look like cheap options. But the difficulty I have is that none of these are in fact houses. In fact even a 3 bed apartment is next to impossible to get. Right now I only want a place for myself so I don't need more than a 1/2 bed but within the next 20 years this will change! The point I'm driving at is that I don't see the real social benefit to affordable housing as it doesn't help anyone (in Dublin anyway) that wants to get onto the elusive ladder unless they are happy with a 2bed apartment for the next 20years due to the clawback. I find the prospect of the market discount enticing but its a false economy in my opinion and doesn't offer anything other than a short term gain or a very long wait to move up the ladder.

I'd like to know what people that have availed of this think and others that are considering it.

Moonbeam

It wouldn't be too fair if they were giving out 3 bedroom houses to lots of single people either.
You do not need to keep the house/apt for 20 years,you are free to sell it and pay the claw back.

long_boy

I know what you mean Moonbeam but they don't give them out - you still have to pay for them and at higher cost of course. I think they would be more socially beneficial. The bit that kills me is that the government are basically saying with the latest initiative that they recognise that people with a salary of 58k can't afford a 2 bed appt in the cheapest suburbs of Dublin and need assistance! Presumably at that salary level most people will be close to the peak of their prospective earnings so can't rely on heavy salary increases to get up the ladder. Therefore how do you get away from the 2bed appt? Move to the country I guess but that's not an option for everyone.

I know that you don't have to wait 20 years and could pay the clawback - but then what's the point or the benefit? Say for example I apply with my girlfriend or even if I had a family and was still a FTB (presumably living at home or renting) - I still don't see many options for 3 bed houses anyway?

Cantab.

Moonbeam wrote:

It wouldn't be too fair if they were giving out 3 bedroom houses to lots of single people either.
You do not need to keep the house/apt for 20 years,you are free to sell it and pay the claw back.

You do not need to own a flat either. The OP would be better off renting - if he gets married and decides to have children, it's far easier to move into a rented house than to try and offload a poor quality affordable housing unit complete with a whole load of terms and conditions.

Why won't the government bring in proper legislation to the private rental sector? The PRTB in its current form still doesn't address this fundamental issue - its primary role, as far as I can see, is to facilitate the revenue in the collection of taxes from landlords. Yes, the existing legislation has been formalised a bit better, but it's no use because the legislation itself needs to be updated and brought into line with Ireland of 2007.

Mailman

Moonbeam wrote:

It wouldn't be too fair if they were giving out 3 bedroom houses to lots of single people either.
You do not need to keep the house/apt for 20 years,you are free to sell it and pay the claw back.

You'd be a long time saving for the stamp duty to move house.
Problem with the scheme is that it is not delivering what the people need.

Thinking of one particular affordable housing scheme I know that the majority of the houses were two bed houses and apartments which wasn't in line with the requirements of the purchasers.
The three beds in the scheme were given to locals and those in the know before anyone else got a look in.