Affordable Housing

Pougle

Hello All,
I new to this whole process. I was looking at the properties offered on these schemes and the units seem quite small with no garden or balcony.
If there is a crash in the market, it looks like these units will be the hardest to shift. Idealy I would like to get a unit that I could see myself living in for at lease 10 years. As is stands I couldn't see myself living in a miniumum area 2 bed apartment long term.

If I buy an affordable unit. How long do I have to live in it before I could rent it?

Cheers.

Electric

I don't think that you can rent an AH unit while it is still part of the scheme ie if the clawback provisions apply to it.

I was just wondering about the way the draws for AH are done? Say there were 3 different types of apartments on offer in a development. Does that mean that there would be 3 different draws? And say there were 20 developments in total, would that mean that by the time the 20th draw came around you would have a better chance of getting it cos alot of people would have been taken off the list?

Oh and how do things work if someone refuses an apartment? Is a separate draw held for refusals? And does the person who refused go straight into the next draw, even if they've turned one down?

texas star

Pougle affordable housing is exactly that affordable housing.Its ment for people that cant afford to get on the property ladder. Its not ment for a way of making money in the future by renting it out. Its ment to be a home not an investment.

SuzyS1972

Pougle wrote:

Hello All,
I new to this whole process. I was looking at the properties offered on these schemes and the units seem quite small with no garden or balcony.
If there is a crash in the market, it looks like these units will be the hardest to shift. Idealy I would like to get a unit that I could see myself living in for at lease 10 years. As is stands I couldn't see myself living in a miniumum area 2 bed apartment long term.

If I buy an affordable unit. How long do I have to live in it before I could rent it?

Cheers.

You can't rent it out - the whole point of it is to provide a home to someone who can't afford market prices.
You don't want it anymore you sell it and move on.

Everything has to be about gain in this country - drives me nuts.

seahorse

SuzyS1972 wrote:

You can't rent it out - the whole point of it is to provide a home to someone who can't afford market prices.
You don't want it anymore you sell it and move on.

Everything has to be about gain in this country - drives me nuts.

Yes it drives me mad too Suzy, but I think you need to consider that it is precisely because everything is about gain that people cant afford to get on the property ladder in the first place.

I don't blame the OP for not wanting to spend twenty years in a shoebox with a 4ft by 2 balcony overlooking a concrete slab of a courtyard; I doubt the people who design and build them would want to live there longterm either; but of course needless to say the developers have no worries regarding affording a place where they'd really like to live, what with the ridiculously overinflated prices they've been charging hysterical home-buyers in this country for the last fifteen years.

jdivision

I doubt if the people who get a two-bed apartment in Donnybrook worth e750k for e245k would feel the same way. Not all of the apartments are small. Most are in private developments and so are the size of normal units. You can always refuse an offer if you don't want one.

texas star

Yes i agree,there was a time(last year) when people were offered a place and they jumped at the chance.All of sudden everybody is experts on the property market.Whatever happened to getting a house and living in it.I know a few of my friends would bite the hand of DCC or anybody for a house/appart just to call it their own.Affordable housing opens the door that banks have closed in our faces for years.

seahorse

It wasn't the banks who closed the door Texas Star; that was down to the ineptitude of the government and the greed of the property developers.

Drapper

seahorse wrote:

It wasn't the banks who closed the door Texas Star; that was down to the ineptitude of the government and the greed of the property developers.

Who fuels the developers and the governement?

banks, Texas star is right.