Affordable Housing - I need help & advice!!!

Test For Echo

My girlfriend & I recently decided to end our relationship of 6 years. I am 39 years old and desperate to settle down (property wise). We had been saving and looking for a property. As I suddenly find myself single again I cannot afford to take out a mortgage on my own. It appears that I do not meet the County Council's single income criteria for affordable housing (I'm about 4 grand short). Is there any flexibility with their criteria or am I really in the mess I feel that I am in? I am living in a rented property in an area zoned for development which is up for sale.

I'm really worried & stressed and any advice would be much appreciated.


T4E

johnnyskeleton

Well first of all, you don't need to do anything right away.

Renting is not the end of the world - in fact it is where the smart money seems to be at the moment.

The bad news is that if the county council says that you do not meet the criteria, you are unlikely to be able to get around this.

The good news however is that full market prices for property in a lot of the country is actually less than affordable housing, and it comes without the conditions.

You could take your savings and put it into a high interest savings account, and then watch the market and see how it all pans out. Unless you think that property prices are going to go up any time soon, then there is no immediate need to buy somewhere.

Test For Echo

johnnyskeleton wrote: »

Well first of all, you don't need to do anything right away.

Renting is not the end of the world - in fact it is where the smart money seems to be at the moment.

The bad news is that if the county council says that you do not meet the criteria, you are unlikely to be able to get around this.

The good news however is that full market prices for property in a lot of the country is actually less than affordable housing, and it comes without the conditions.

You could take your savings and put it into a high interest savings account, and then watch the market and see how it all pans out. Unless you think that property prices are going to go up any time soon, then there is no immediate need to buy somewhere.

Thanks. Was all prepared to get 'out of town' this year but it's just not going to be. Really feeling the pressure of getting old. Dammit anyway!

pathway33

if you have 8% deposit saved don't be afraid to offer bids 40% below the asking price on the open market. Lots of potential buyers are too embarrassed but the reality is there are some sellers out there who would give anything for any sort of a bid. you can negotiate from there. lots of estate agents mightn't even pass on the bid but you have to keep trying. at the end of the day it's a numbers game. if you make enough offers at a price you can afford one will come good.

personally i'd rent for another 12 months. there is an awful lot of empty houses out there and the price is going to drop further. nobody can tell where the bottom will be but i'm pretty sure it wont be this year. get up to date with the websites that watch house prices falling, property bee or something.

i don't think the council are flexible. maybe their hands are tied with bureaucracy. i think you'd be better off buying privately though. read www.askaboutmoney.com to see about all the problems with affordable housing but thats in dublin. might be different elsewhere

where and what do you want to buy?

johnnyskeleton

Test For Echo wrote: »

Thanks. Was all prepared to get 'out of town' this year but it's just not going to be. Really feeling the pressure of getting old. Dammit anyway!

If you're feeling old at 39, strike up a chat with Zaph in BGRH. He's older in a way but younger in another.

As for buying property, some of the richest (and oldest) men in the world don't own their own home, they rent. I think Warren Buffet said that if it wasn't for his wife's nagging he would be renting (and happy) right now.

So don't worry about it.

Test For Echo

pathway33 wrote: »

where and what do you want to buy?

I live in Monaghan (!). My plan was to move to the country but on my own it'll have to be closer to town. Properties in the area are starting to plummet which is good (for me) but (I hate to admit) I work in the HSE and I could end up relocated to another county as part of their nonsense. Again, dammit!

pathway33

have you heard of the scheme (probably only for new houses) where you rent for 2 to3 years and then at the end all your rent goes towards the deposit. so you can buy the house without having to save. theres problems with that too though because i think the valuation is at todays prices and in 3 years who knows what it will be worth. but you can walk away just like you would from a rented house. might suit you if you dont know where you are going to be located

pathway33

different councils have different income bands for affordable housing so you might get lucky if you get relocated

Test For Echo

Cheers pathway33.

I've taken about as many punches as I can handle in 2009. Relationship's frigged and all the plans with it. A pension levy has come along just when I need to save harder. And I don't even know where I'll be at the end of the year! I just want to go outside and scream.

pathway33

Test For Echo wrote: »

Cheers pathway33.

I just want to go outside and scream.

Not the worst idea. Better to let all anger and pain out than trying to keep it in because if you try to keep it in it will just come out when you least want it....like when you'll be in the HSE. People will understand why you screamed at them and slammed the door but it won't make you feel any better.

There's just some periods of our lives we have to go through real sh*t. When it rains it pours. There may not seem to be any logical reason for the mess but it's just like a rollercoaster. You just have to go with it. I think the hardest part is actually letting it out. Getting down on your knees with your head in your hands and just ggggrrrrrrrr why me. What have I ever done to deserve this.

All I know is that when real sh*tty things have happened to me, looking back after 12 months I have been able to say, wow if I hadn't gone through all that sh*t I wouldn't be in the good place I am now. It seems impossible to imagine at the time, like in the place you are now but that's where human natures instinct for survival comes in i guess. Just trudge on, taking each day as it comes and see what happens. It's just everything together, the powerlessness, the pain and the anger. One day at a time. That's the only way out.

Test For Echo

pathway33 wrote: »

Not the worst idea. Better to let all anger and pain out than trying to keep it in because if you try to keep it in it will just come out when you least want it....like when you'll be in the HSE. People will understand why you screamed at them and slammed the door but it won't make you feel any better.

There's just some periods of our lives we have to go through real sh*t. When it rains it pours. There may not seem to be any logical reason for the mess but it's just like a rollercoaster. You just have to go with it. I think the hardest part is actually letting it out. Getting down on your knees with your head in your hands and just ggggrrrrrrrr why me. What have I ever done to deserve this.

All I know is that when real sh*tty things have happened to me, looking back after 12 months I have been able to say, wow if I hadn't gone through all that sh*t I wouldn't be in the good place I am now. It seems impossible to imagine at the time, like in the place you are now but that's where human natures instinct for survival comes in i guess. Just trudge on, taking each day as it comes and see what happens. It's just everything together, the powerlessness, the pain and the anger. One day at a time. That's the only way out.

Yeah you are bang on there. I havn't even begun to deal with the relationship breakup never mind the rest that's sitting waiting for me. Trying so hard to be positive. Going to be a hard year methinks! Thanks for the posts.

Iorana

Hi all,

Is there anyone there you got a 1 bed apartment thorugh the AH scheme and would be able to tell me how much does the total monthly repayment work out?
Thanks a lot