Wyckham Point Affordable Housing?

Just got an invitation from Dun Laogh… CoCo to view and buy at Wickham Point.
3 beds 300k(440 open market), sounds reasonable considering mortgage repayment will be around 1000.
Any ideas?

Moved this query here.

220k with no clawback bs.

No idea on price (I don’t really watch the specifics), but I would agree with xman that you should be negotiating on not only the price, but the conditions aswell.

Whats the management fee? Dont forget interest rates will rise again. Have you seen them, are they any use?

I didn’t see them yet.
Management fees according to DLRCoCo 1200€ but sources on myhome tell higher figure!?
I searched on askaboutmoney and found posts from February which tells that price for AH 3 bed in Wyckhma was 350k. Looks like it’s still more productive to sit on fence

Do not buy an apartment that you don’t have the option to rent out.

I don’t know your work situation, but for most people you really need to hold on to your flexibility. If for some reason you found yourself needing to live somewhere else for a while, it would be terrible to be trapped, unable to rent out the apartment that you supposedly own.

I’m not saying you should be looking to become an amateur landlord, but these are difficult times, options are valuable.

If you want the apartment then buy it, but BUY IT, don’t half buy it.

If the price they want from you for a straight sale isn’t to your liking then walk.

-Rd

Hi Vodo-Siosk

I’d same offer a while back for Wyckham and came here for advice, thread:

viewtopic.php?f=10&t=10530&hilit=+wyckham

I didn’t accept offer but am renting there now if you’ve any questions you’d like to ask re the development. I was put down end of aff housing list and got letter recently saying to contact if any interest in a number of developments incl Wyckham. They’re actively seeking to get rid of the aff housing apartments in dlrcoco now, gone are the days of lotteries!

Has anyone considered getting together with a group of people, and approaching the AH people or even develoeprs with a view to taking 5 or 10 homes on very attractive terms?

If a number of people were considering buying anyway, then you’d think that by getting together there might be ways of saving a good bit of money.

-Rd

As you are buying off the Co. Co. you are unlikely to get extras for free such as recessed lighting, floors etc. Ask the builder how much it would cost to get these done so you can know the full price. It may be necessary for you to get Co Co to get these from the builder before you close so they are included in the purchase price and can be covered by your loan. Whatever price you agree, you need our budget to cover the full cost of acquisition and decorating.

That’s a great idea RD. However, it would be messy as you could get tied up with other people’s loan conditions (e.g. life insurance & medical checks) and you may be liable for losses accuing on the whole deal. If you were doing this I suggest that you do the legals in advance and then drawdown, sign contracts and complete at the one time.

A pool of buyers could buy anywhere not jost of Corpos . As Neg wisely said it would be an idea for everyone to prequal for the mortgage life insurance first ( it can really drag) and then to get mortgage approval nearer the date . Banks and builders salivate at people looking for bundles of 5 apartments nowadays :slight_smile:

Also ensure all 5 are FTBs , there is a pool of money for FTB mortgages .

Hey, Just getting back to this, What is the current status on AH here?.. is social housing en-route aswell?..
Im very interested in Ah at Wyckham point! would love all your view and advice please

Oh Happy New Year BD

Whats the status there? From passing by it each day there seems to be least two full blocks unoccupied perhaps even totally unfinished judging from the unfinished stairwells.
The apartment situation in the general area is similar. There is a similar level of empty unfinished apartments down the road in Sandyford (Beacon south quarter) stillorgan (the grange) and more along the Stillorgan bypass(Booterstown something or other).
Simply put the area is awash with over priced unfinished apartments that havn’t been finished or are not selling.
If the market were allowed to correct it’s self without interference we would see there going for less than 100k a unit such is the oversupply.
Its only a matter of time.

Hi random punter, I’m renting in Wyckham. Two blocks lived in, the third has been left unfinished (one closest to Wesley College) hasn’t been fitted out internally or landscaped and no work been done on it now for near 6 months (builders used to wake us every morning when we first moved in). I’m not sure what their plan is, there is both affordable and social housing already in the two finished blocks.

At the risk of beginning an anti-nazi flame war, what’s the social housing tennants like, is it the dregs?

Can’t say I’ve noticed to be honest, as far as I know (from viewing the affordable apartments while back) they are all at the back of the development in the second block and we are at the front of the development in the other block. Haven’t heard any complaints though, its a nice development, unfinishedness aside. I must trawl through my old affordable housing correspondence and documents as I vaguely remember asking the county council at some stage how many social units were there.