Affordable Housing...

… what’s the story with this then???

The income thresholds are actually alot higher than I previously suspected…

If you earned less than €40,000 gross in 2005 for example you actually qualify but there was some clause about having to pay proceeds to the Council if you were to sell the house within 20 years…

Does anybody know how much this would amount to on average? Or whether there are any other major drawbacks to the scheme…

Other than size, poor construction and generally less than desirable locations…

A major drawback are the buying price thresholds, Dublin City I believe cap it at €250K or €275K ifyou have about 20K or more saved.

Now honestly waht are you going to find in that price range in Dublin, let alone bally-back-water!

Well. Actually you tend not to find it yourself at all.

Fingal Co Co do it off a list and as such you get called to see properties or developments as they are turning up…

All new estates have to have 10% affordable housing at least in Dublin at any case.

Bally-back-water is increasingly the only place I can afford to live but I’d like to at least live really isolated so I can bang pots and pans at all hours of the night. :smiling_imp:

Perhaps I am mixign up the 50/50 (not the official name), where you pay half the value in a mortgage to a bank and the other half to the Co.co in the form of rent which works out approx. close to a full mortgage.

Its for those who previously couldn’t get a look in when it came to banks, more common than not less than 10 years ago. however now they are lending to any joe especially joe’s with faked P60s and Credit Union loans masqurading as deposits you could say we all have a chance.

This scheme is where you locate the property yourself having previously gotten approval form you selected Co.co.

No, it’s totally different to that…

You basically get a full mortgage from a council or the bank at a preferential rate on a property that is for sale at below market value.

We are not talking Taj Mahals here however in any sense obviously… But then again, why pay the same overinflated price for a property that will have just as crappy neighbours, just as crappy public infrastructure, just as crappy soundproofing and poor finishing…

I might have to start digging out these forms (and crikey there are alot of them)…

Hi I’ve posted here a few times already and thought I could fill you in on the Affordable Housing since I’m on the waiting list in the four council areas of Dublin.

Fingal and South Dublin have the same system, whereby you have to pass an interview to get on the waiting list.
In the interview you have to pass income test:. Married couples must have income of (2.5 * main income + second income) < E100,000.
Have to prove regular savings of E650 a month. Have to show good credit history, etc.
If you pass the test you get on the waiting list and should be offered a property within 10-12 months. 2 bed apartments are for E165,000 and 3 bed houses for E185,000.
I think the clawback for Fingal and South Dublin is 50% of the profit on selling your house in the first 10 years decreasing gradually to 0% clawback after 20 years. If you sell your house for E400,000 in year 7 you have to pay back(400,000 - 185,000) / 2 = E62,000.

Dublin City and Rathdown have a ‘lottery’ once or twice a year. I received my brochure for Dublin City last week and sent off the reply this morning.
I picked a 2 bed in Cathedral Court, New Street(no parking space) and a few 2 and 3 bed apartments in the developments around Ashtown.
If I ‘win’ in the lottery I then have to pass the interview, which is having a net disposable income of E500 - E650 a week(married couple) and other loan criteria.
Cathedral Court was E260,000, but cost E450,000 on Daft, and the ones in Ashtown E240,000 - E270,000, but are around E400,000 on Daft.

The clawback is much tougher for these lottery schemes. Say you save 30% on the lottery apartment, getting a E350,000 apartment for E245,000. You would then have to pay back 30% of sale price. If you sell for E400,000 then you have to pay back (30%)E120,000, meaning you’d be back to square one and no first time buyer status!! That’s why I only picked areas where I could live for the next 5 - 10 years at least.

All the affordable houses are same shape and design as the ‘normal’ houses but come with no appliances, skirting boards, door bells, flooring, etc.

NOTE:
In the Dublin City Council draw, if the E350,000 apartment you got fell to E300,000 when you were selling in year 7 or 8, you would still have to pay back E90,000 to the council, even though you had to fit out the apartment yourself!! This is why I still haven’t decided to take a Dublin City property even if I win one in the lottery draw in February. Hopefully it will be clearer then if the market is going to continue its slide.

Hi Japanman,

Thanks for the additional info!

Like you point out there are major drawbacks to this scheme. :confused:

To be honest, I don’t think SDCC have any kind of system??? Everytime I speak to someone in Property Path, I get told different things about what I need!!!

Japanman> You are ineligible for all the councils affordable housing that you have applied for, except for the area in which you live, if you check the conditions carefully.

Otherwise you are doing other people out of their affordable house - you may be living in South Dublin, but you would be taking someone else house in Finglas, etc.

I’m applying for housing in South Dublin County Council areas, and also Dublin City Council(using the Common Application form). I wasn’t told that I couldn’t apply for a house in South Dublin CoCo…?

Well no surprise in the inconsistency of replies from the SDCC!

But if they didn’t have this restriction, people from all over the country would be applying for areas where they don’t live, whereas people who live/work in the area would miss out.

But maybe you have give them a ring/e-mail and confirm for us?

Hi guys

I haven’t been on here in absolutely f**king AGES. I recently rang SDCC about my application for Affordable Housing, and they should be in a position to offer me a property to suit my needs by late summer this year…?

The guy I spoke to said, that they have some properties coming on stream in St Edmunds, Liffey Valley, so we’ll see…?

By the way, does anyone have a map of the area where St Edmunds is??? There seems to be a lot of confusion(on my part)as to where exactly, it is situated…?

See google maps Off St Lomans road.

stedmunds.ie/site_plan/index.htm

askaboutmoney.com/showthread.php?p=302349

i think you are telling porkies again.
either that or you are just ignorant of the reality.
people on here should really try to not say stuff unless they are sure about what they are talking about.
it lowers the quality of the site.
now i know i have brought up this before and was slated - “someones lying - ON THE INTERNET” etc - but really CAB you should know better.

anyway ,on to the point at hand.
i know for a fact that you can apply for affordable housing in fingal if you are not living there.
how do i know? because my brother got one last year. he also applied to the other councils as well.
he got offered gaffs there as well.
so while you might “THINK” you know what you are talking about , you do not “KNOW” what you are talking about.
maybe you should make the distinction when posting ( in the interests of clarity of course )

Where is St. Edmunds?
Well thanks to Liam Lawlor the postcodes dont reflect reality. Its kindof a grey areas, so it could be Clondalkin, Ronanstown, or Neilstown. Other estates beside St. Edmunds, which are closer to Palmerstown are in Clondalkin.

Its next door to a high security institution (the fences and CCTV are to keep people in), a halting site, a busy 8 lane carriageway and a few socially deprived estates.

I’ll second that. I know a guy from the country, living in Blackrock who got an affordable in Finglas.
Long time no post 2Gaffs. :wink:

I know a bird renting in Terenure who was offered one in Finglas went to view and hasnt been seen since. (Obviously she wasnt impressed) :laughing:

been a bit busy lately doin a bit of Money Makin Money Money Makin
and some Manhattan Super Disco Disco Breakin.

anyway - sure if your renting in dublin , you could move to another house in another council area - then you are LIVING there.

really dont like people stating stuff on here as fact - when its nothing of the sort.
if you want to spout what you think to be true ( but arent really sure ) - take it to AAM.

there is/was some great value to be got on those affordable housing schemes - and TBH the people who get these houses are by and large a good group.
since they are actually paying a mortgage for the place and are house proud etc. unlike some people who get free houses and have no respect for the place etc.
the limits on the AH salary wise are rather more than one might expect.
and if you are buying a place to live , then you should seriously consider it.
there are some untruths floating around regarding clawback too - but dont have much time to correct posters on it.
if you are considering AH then get in contact with the council and get info from them - do not take anything written here as fact. some people dont have a clue but like to think they do!

Jesus, sounds like heaven to me!!, where do I sign?