Affordable Housing Plunge Dublin?

stovelid

Dandelion6 wrote:

I think we would all prefer to see that, but the reality is that as long as the vast majority of properties on offer are 1 or 2 bedroom apartments, very few people are going to be looking to buy them for the long term.

If apartments are not suitable long term, why is it so important to buy them now...even to the extent of buying them in areas that the buyer doesn't want to live in?

Because - like the OP - the idea is to get on the "property ladder" and sell on the property later on.

I wasn't criticizing people moving on when they need more space. Just the fact that the OP was treating the purchase as it were a normally funded 'investment stop-gap' and not a scheme intended to provide homes for people who cannot afford them.

The fact is that in Ireland; in many of our minds, we all living in our final 'dream' house funded by previous, wise property investments.

Dandelion6

jdivision wrote:

I got an affordable unit in Fingal and there is no restriction on renting a room. I don't think DCC would have any legal basis to stop you from doing so, it's your property afterwards and if you are a single buyer buying a two-bed apartment it's obvious you will let out the other room.

The thing is that if you're buying on the Shared Ownership Scheme, it isn't entirely "your property afterwards". The Council still owns 50% of it and it's on that basis that they can deny you the right to rent out the other room.

Incidentally, I'm a single buyer who bought a two-bedroom. I didn't rent out the other room.

Dandelion6

stovelid wrote:

If apartments are not suitable long term, why is it so important to buy them now...even to the extent of buying them in areas that the buyer doesn't want to live in?

Because - like the OP - the idea is to get on the "property ladder" and sell on the property later on.

I wasn't criticizing people moving on when they need more space. Just the fact that the OP was treating the purchase as it were a normally funded 'investment stop-gap' and not a scheme intended to provide homes for people who cannot afford them.

I think the reason people feel they have to do this is because otherwise they would never be able to afford to buy. It's a lot easier to get a bank to give you a mortgage on that family-sized house if you have another property to offer up to them. This does not mean that they're looking to make a quick buck on the affordable unit, though. I think it's unfair to characterise people like the OP for that. They are still using the affordable scheme to get their own long-term housing which they otherwise couldn't afford to buy - they just have to do it in a longer, indirect way because family-sized homes aren't available under the scheme as it's currently being run.

I just think you're criticising people who are genuinely in need of housing for trying to make the most of the options available to them. Why not direct your criticism at the authorities (central and local) for not offering better options?

stovelid

Dandelion6 wrote:

They are still using the affordable scheme to get their own long-term housing which they otherwise couldn't afford to buy - they just have to do it in a longer, indirect way because family-sized homes aren't available under the scheme as it's currently being run.

In other words, using the scheme like I said.

To be honest Dandelion, I think that even if the scheme offered more family sized homes in 'not-so-desirable' areas, a lot of people would still turn them down in favour of good 'accumulators' in better areas.

Dandelion6 wrote:

Why not direct your criticism at the authorities (central and local) for not offering better options?

I agree.

There would hopefully be a much higher take up from those who genuinely want to use them as long term homes.

Dandelion6

stovelid wrote:

In other words, using the scheme like I said.

You suggested they were using the scheme out of greed. I don't agree, I think it's out of need. The important thing is that it's still a means of getting a home they couldn't otherwise afford - which is what the scheme is supposed to do.

To be honest Dandelion, I think that even if the scheme offered more family sized homes in 'not-so-desirable' areas, a lot of people would still turn them down in favour of good 'accumulators' in better areas.

Well there's one way to find out but it requires the Council to actually start offering family-sized homes. And they should be offering them in desirable areas, too. It's not good for Dublin for people to have to move out of the city when they want to have a family.

rikki2

Hi All, I am in the process of buying an Affordable apartment.
There is a 20% clawback.
If you sell within 10 years you have to pay back 20% of the Sale price. This diminishes by 2% for each year thereafter.
You CAN rent out a room. You cannot rent out the full property. It has to remain your PPR (principal place of residence).
You can remortgage the property but you have to pay the Council the original 20% of the house purchase price.

jellybeans

I was talking to a friend of mine who said that a solicitor said that what the councils are imposing isn't actually legal. It has been said that none of it would stand up in court. If for instance you have an affordable home and your family expands and you have to upsize and the council threaten to take the property off you well that isn't legal, anyone know?

jackal

jellybeans wrote: »

I was talking to a friend of mine who said that a solicitor said that what the councils are imposing isn't actually legal. It has been said that none of it would stand up in court. If for instance you have an affordable home and your family expands and you have to upsize and the council threaten to take the property off you well that isn't legal, anyone know?

The council dont and wont threaten to take the home off you. They can and will demand the clawback percentage though.

Irlbo

I have a young baby and a child on the way,I live in a tiny 1 bed apartment,we are on the affordable housing list because we cant afford to buy a house the tradional way of getting through a morgage,despite both working hard in decent paying jobs,we want to get a nice house at an affordable price so I can raise my family,makes me sick to read the OPs postAffordable housing is not for greedy cold hearted opportunists to buy houses to rent out to people like me who cant afford to buy a house,shame on you

unklerosco

Irlbo wrote: »

I have a young baby and a child on the way,I live in a tiny 1 bed apartment,we are on the affordable housing list because we cant afford to buy a house the tradional way of getting through a morgage,despite both working hard in decent paying jobs,we want to get a nice house at an affordable price so I can raise my family,makes me sick to read the OPs postAffordable housing is not for greedy cold hearted opportunists to buy houses to rent out to people like me who cant afford to buy a house,shame on you

If u think he's bad I know a guy who got an affordable apt, lived in it for a month and has been renting it out for the past 3-4 years.. He doesn't even live in the country anymore. He told the council last year via phone calls and letters and they never got back to him so he still has it...

jellybeans

jackal wrote: »

The council dont and wont threaten to take the home off you. They can and will demand the clawback percentage though.

have you heard of them actually doing this? Im not sure they do. I think it's the pits when people take advantage and abuse the system but I also feel the clause they have where you have to remain living in the property for 20 years a bit excessive. I have an affordable property and when buying i was single but hopefully someday I will have a family and partner etc. What if you both own an AH property??