Rent Percent

K_P

To be honest I'd very much doubt you're entitled to compensation. If you buy off the plans, you should expect delays and you're getting a pretty hefty discount on the market value of the property as it is. You knew about the clawback when you signed up to this and while I'm sure it's a big issue for you and other people in affordable housing, it's a fair trade-off considering you're getting thousands off the market price of your apartment.

Bottom line though: If you think you're entitled to compensation, it can't hurt to approach your council. I'd say good luck, but this whole compensation culture we're living in at the moment sickens me. So, y'know, I won't.

jimmycrackcorm

JOJOC wrote:

I realise affordable housing is a privilege and not a right but in total im waiting nearly 2 years to move into an "affordable apartment".
But considering we were taken out first in the draw and other people are that were lower down the list are in there apartments - i personally just feel a little hard done by!!

I had to wait more than 2 years to buy my house but that was because I had to earn enough to pay for it. I felt hard done by the developers putting up the prices.

The_Conductor

jimmycrackcorm wrote:

I had to wait more than 2 years to buy my house but that was because I had to earn enough to pay for it. I felt hard done by the developers putting up the prices.

I agree- I worked 2 jobs for 4 years to put together the deposit for my current place....... By the standards being applied- should I feel hard-done-by and try to get compensation? The very idea is laughable.

CherieAmour

Ok. I'm confused. Is this correct?

You were pulled out of the draw first. You got an apartment. It fell through because of structural damage. Rather than put you back in the hat, the council have found another apartment and allocated it to you. This apartment is not ready. You haven't signed anything yet. You haven't begun to pay a mortgage.

If I have this right then this is my take on it. It is certainly unfortunate that your initial apartment fell through, BUT there is no way you would be entitled to any compensation for this. There are people sitting on Affordable Housing lists all over the country and they may be on the list for 2 or 3 years before they get anything. When they finally buy, they get the mortgage at the interest rate on the day of closing and the 20 years starts from there - even if they have been waiting years to even get called!

I know what you are saying, that you would be in your apartment now if it wasn't for the accident that was out of your control BUT if I were you, rather than looking for compensation, I would be thanking my lucky stars that firstly, this accident didnt happen AFTER you moved in, and secondly, that you are so close to having a home of your own at a price that isn't going to break the bank as opposed to buying privately. I've heard of plenty of people who put their booking deposits down on Affordable Homes and had to wait nearly a year to get in to them, so you are not alone. I didnt get into mine until around 6 months after the majority on my estate because of circumstances out of my control. I just dealt with that fact because I felt so incredibly lucky to be getting a place in the first place.

I would be thankful if I were you to be in your current situation at all !!!

Electric

Why aren't you thankful that the accident didn't happen after you moved in? Think how much time/effort/money you would have to expend to fix it then?!

And so what you've had to wait a bit longer! You're getting a house on the Affordable Housing scheme! Do you know how lucky you are?

Instead of looking for compensation why didn't you save the money that you would have been paying off the mortgage and when you do move in you would need a smaller mortgage? And as for the clawback you do know that you can buy it out at any stage right?

Why is it when things go wrong people start looking for compensation? There was no one at fault here. These things happen you make the best of it?

the_syco

I'm confused. Does the OP want compo cos they didn't get a cheap house... for which they have signed no contract?

OP: without a contract, there is no reason why you should get compo. If you feel hard done by your bad luck, have you ever thought of buying a house for the full price? No? Then shut up and wait for your cheap house.

Noelie

OP don't forget that people who had to pay full price for their apartments, had to subsidise the price of yours. Kinda cheeky of you now to be asking for compensation.

What next do you want every tax payer in the country to allocate some money towards your holiday?

godtabh

Noelie wrote:

OP don't forget that people who had to pay full price for their apartments, had to subsidise the price of yours. Kinda cheeky of you now to be asking for compensation.

What do you mean by that? Surely the tax payers subsidise affordable housing?

Afuera

kearnsr wrote:

What do you mean by that? Surely the tax payers subsidise affordable housing?

I think builders have to set aside 20% of their stock for AH. The profits they make on the other 80% is hiked to account for their losses, therefore the buyers of the other properties would in effect be funding the AH.

Noelie

I've always believed that the developer had to supply 20% of the properties to the council at the reduced rate.

CherieAmour

Afuera wrote:

I think builders have to set aside 20% of their stock for AH. The profits they make on the other 80% is hiked to account for their losses, therefore the buyers of the other properties would in effect be funding the AH.

I don't think this is true. The bit where they have to put by a % is correct, but the council pay the builder for that %. I can't imagine that they would scatter a few grand on top of the private sales to make up for it - at least if they do, there is no way of proving it and it shouldn't be presumed.

You cant prove that your private owner neighbours are funding AH but the tax payer certainly is. On this point, I'd just like to say that the people that are buying the homes are tax payers too! They pay their dues like anyone else.

I have noticed a bit of a superiority complex amongst private owners towards those that have bought affordable homes in their areas. If people feel that their apartment/house was dearer in order to compensate for the affordable people in their estates, this will have a very negative impact on building communities! What I'm saying is, we can't presume that this is the case.

Afuera

CherieAmour wrote:

If people feel that their apartment/house was dearer in order to compensate for the affordable people in their estates, this will have a very negative impact on building communities! What I'm saying is, we can't presume that this is the case.

Point taken; we can't know how a developer structures their business or where their profits come from.

Victor

Noelie wrote:

I've always believed that the developer had to supply 20% of the properties to the council at the reduced rate.

The developer has to provide 20% of the land and the council then agrees a paid-for contract to build the units (with the developer or others). In theory it should provide for should 20-40% of people.

In some cases, cash is exchanged instead (Dublin City Council got €500,000 because they didn't want units on Ailesbury Road).

godtabh

CherieAmour wrote:

I have noticed a bit of a superiority complex amongst private owners towards those that have bought affordable homes in their areas.

You cant tell who buys through AH (unless the people tell you) so in most cases people just vent their anger or superiority on forums like this.

godtabh

Victor wrote:

In theory it should should 20-40% of people.

I think this could be a bit of a typo or else I'm drunk and I dont know it

CherieAmour

kearnsr wrote:

You cant tell who buys through AH (unless the people tell you) so in most cases people just vent their anger or superiority on forums like this.

Agreed, that's where I am hearing it mostly but over time through neighbours meeting and chatting etc, it could be possible to identify them.

I guess I was just making the point that speculating that houses are sold to people at a higher price than normal to pay for loss in builder's profits as a result of their neighbour getting the place for half the price isn't going to do much for social integration.

godtabh

CherieAmour wrote:

Agreed, that's where I am hearing it mostly but over time through neighbours meeting and chatting etc, it could be possible to identify them.

I think if it got to the stage were your neighbour openly tells you they have a AH home then there would more than likely not be an issue.

As for identifying people from other means you could easily be wrong.

CherieAmour wrote:

I guess I was just making the point that speculating that houses are sold to people at a higher price than normal to pay for loss in builder's profits as a result of their neighbour getting the place for half the price isn't going to do much for social integration.

Does social intergration happen at all these days? I've moved in to my aparment nearly 4 months ago and have seen my neighbours a handful of times. People are so busy these days that social intergration like it used to be on the estates is really there any more

jdivision

Private owners don't subsidise affodable units. Apartments are sold at market rate, otherwise you'd have some developments that cost more because there was affordable units in it than a completely private estate (possible through a social housing exemption order). In addition, when the developer is paying for the the land they would have built the 20 per cent affordable units into the price they paid for it. Some developers are making profits on affordable units, particularly in DCC. In large schemes if you look at the prices units first came on the market for and then compare it to the affordable unit prices they are comparable.

A Random Walk

If a developer expects to make a million from a development by selling 10 properties and then has to hand over 2 of those properties to the council, he's still going to make his million on the remaining 8. That's not rocket science. There is no "free" money anywhere here, as mentioned earlier the purchasers of the 8 other houses are covering the 2 AH houses.

It's a very clever stealth tax where the government (councils) get to supply cheap houses without directly taxing people to pay for them.

jdivision

If a developer expects to make a million from a development he will do so based on standard construction economics. He can't suddenly start charging e300k for an apartment that's the same standard as the one next door where they're charging e250k. If anything the e1 million figure gets taken into account when he's buying the land, not after developing the houses. It's not a stealth tax because they are provided at cost price, or at least were supposed to be until Cullen came along and changed the rules.

A Random Walk

jdivision wrote:

..he will do so based on standard construction economics.

Whatever is this supposed to mean?

If anything the e1 million figure gets taken into account when he's buying the land, not after developing the houses.

huh?

It's not a stealth tax because they are provided at cost price, or at least were supposed to be until Cullen came along and changed the rules.

I'm sorry to be overly simplistic here. No developer builds houses so they can sell them at cost, they aim to sell at cost+profit margin. If the government decides it's going to take some of that profit margin, the developer will make their margin from the other developments. Do you think any developer is going to drop their profit margin to subsidise AH purchasers?

I don't know what world you live in where developers are happy to go to the hassle of building houses on a cost only basis to be handed over to local councils. They're not in this as a charity. The only losers are those who are paying full price for the remaining 80% of the houses who are subsidising the AH purchasers.

That's what we've voted for when we vote in the current government however, so as far as I'm concerned anyone who voted for this have no right to complain.

jdivision

No they'll simply pay less for the land. Read what I wrote. They pay less for the land in order to be able to make the million euro profit. That's why land with no social and affordable housing commitments sells for a higher price per acre than land in the same area that does have such an obligation. The developer can pay more and make the same profit

ircoha

JOJOC wrote:

CelloPoint -


The reason the first property fell through was that the toilet exploded and the destroyed the whole apartment which was therefore unlivable and both the builder and the council were saying that it was each others fault!

I know Sh1T happens but this takes the biscuit.

was it this: see image below

In relation to the original post I cant believe that it was even posted.

If rates have gone down or the market price is less when u do get an offer, will u tell the CoCO that you feel a need to pay more because if....

Captain Corelli

HI everyone;

I am planning on moving in to a house with my girlfriend, letting. There will be 2 couples, one in each room.
Basically; I was wondering, what percentage do people pay of their income on rent.

I am paying 20 percent. I myself feel this is low; what do others think?

mikemac

Good thread idea OP

Did a qucik calculation and I'm 21%

chump

Net or gross, and just basic rental cost? ie. no bills etc?
And what type of rental is it.

IE. if you're willing to share a 2 bed between 4 people, ya know

1 bed w/ partner incl parking, city centre, excl any bills

I incur, currently, ~32% of net pay, soon to be ~26%

ixoy

Umm there's a sticky at the top called Rent Percent that already covers this.

Electric

I pay €360 for a fairly small single room in a house in Glasnevin. I share with 3 others. It works out at 18% of my net salary which suits me fine I don't plan to rent forever.

If I include bills it goes up to 23%

fletch

About 12% after tax, looks like I'm getting a good deal and that's in Dublin too

eve

Paying 21% after tax as one of 2 people in a two bed apartment in a commuter town. But the lease is up in 2 months and we've paid the same rent for the last 2 years so I think it'll go up.