Affordable Housing

[Dublincailin]

I was looking into affordable housing.

Single, renting hoping this was my opportunity to own. Have raised my DC

Houses valued @ €362500,

Council providing €78000

So houses cost €284500

The council claim the deposit is €30000 plus mortgage.

Then they say any shortfall is to be paid by savings. Is your deposit not savings.

It is purely semantics say €30000 deposit plus savings.

The reality is deposits can be anything up to €70000.

HTB only applicable for the deposit and mortgage is 70% of purchase price, and can only be for new builds.

Affordable housing is still locking 100's if not 1000's of people out of housing market.

Idk how anyone manages to buy anything nowadays. And renting is poxy. It's such a struggle.

I was at a meeting which said up 40% equity. Now it's changed.

I had mortgage approval and the deposit just not the shortfall.

Houses to be finished this year so guess I'll have to pull out.

Lying awake here devastated. So desperately wanted this.

It shouldn't be this hard to have your own home.

I'm sorry I can't offer advice, but I really do sympathise. It's a horrible, unsettling place to be. We own a house but only because of two inheritances and an advance one. We are incredibly lucky to have what we have. But I do remember the fear of renting. I don't disagree with it as a concept, but it''s so hard in reality. All I can say is I get you, and I really do sympathise. I hope you will get out of it soon.

I just needed to put my thoughts on paper I think.

It's a crock of s**t that this government are doing g to supposedly support people own their own homes.

It's awful tbh. How are you supposed to afford anything when childcare is so expensive for example? Or save for a deposit when rents are sky high?

Also, afaik a few of them are LLs.

Totally agree with you . Scheme introduced here means the cheapest house is 300K . How is that the definition of affordable? Houses in my area are crazy . Asking price of property I saw was 290K when I arranged viewing was told it was now 340K !! This was my daughter and son in law looking to buy currently living with us. Not a problem as it is OK but obviously they want a home of their own . They have a decent deposit , good steady jobs . Can't even begin to consider starting a family 😪. We are trying to figure out ways to help maybe sell our property etc. One alternative is to move out of area to rural but not really ideal because of commute .

This really needs to be addressed. It is not just FTB affected as almost everyone has a young people in their life trying to get a start .The alternative is emigration which can be heartbreaking.

I've been given notice to move out of the house I rent by August, it's the only home my teenager can remember and I've no idea what we are going to do. There's no where to rent even if I could afford what landlords are asking now and I won't get a mortgage.

The housing issue is horrendous and there is no viable solutions coming from the government.

All their schemes and tinkering are all geared towards couples and both working.

There is nothing out there for single people.

@MILLYmo0se

Renting is awful and the Taoiseach and so many others in the Dail (don't know how to a dad's on iPhone) are landlords.

It will never change. Turkeys don't vote for Christmas.

It's truly truly frightening. I'm an 80s kid and remember the days of very affordable housing and easy rental options. Now...jfc.

Fada not dads

80s kid too. I remember my exes parents telling me about getting their first house and having next to no furniture/ no carpets for a year etc. but they actually had the house. Renting is so stressful because you're at the whim of someone else as to when you could be out. Makes it hard to plan with commutes/children etc. At least if you're settled somewhere, those worries are gone to an extent.

It's hard OP, I agree. I'm renting so finding it hard to save for a deposit, and would get fuck all of a mortgage by myself. It's depressing to think I probably won't own property unless I inherit.

On the other hand my cousin recently moved into a lovely new build council house, A rated and she pays less than 400 quid a month (albeit this is on the outskirts of a large town down the country rather than a city).
I'm happy for her, she's lovely. But I can't help thinking the system is a bit screwed up - she gets a tenancy for as long as she wants it, in a beautiful new house, and never has to worry about being kicked out. If she needs any repairs that is covered. I also heard that tenancies can in some cases be passed on to grown up children - how is that fair?
She hasn't worked in years, and yet someone else who is a high tax payer might be struggling to get on the property ladder at all.

The system is so broken I don't know how it can fixed.

It currently feels I think we had known that like the less you contribute the more you seem to get.

We have legislated for irresponsibly for so long, don't want a job, here have some money. Don't have a home, here's a house. Need a doctor here go whenever t you want, it's free.

It feels like working to support is the stupid option.

And yes @Farmageddon council tenancy's can be passed down Different time frames for different councils but definitely can be past on.

It truly is a broken system @Dublincailin.
My heart goes out to you.

It looks to me like the Irish government support the big foreign institutional landlords to the detriment of the people who voted them into office.
Irish people would prefer to own rather than rent.
Why are so many build to rent schemes allowed to go ahead ?
Why aren't our politicians doing their best for us instead of giving big tax breaks to big institutional foreign landlords.

It's really really difficult as a single person.

There used to be a different affordable housing scheme through a housing organisation which was affordable, 3 bed for €200000. Council land was donated land for nominal amount so keep costs down. That was closed by government to set up this one which is still council land d but are charging market rates.

Yes the same time they give big tax breaks to foreign investors they stopped the mortgage relief (apart from the limited scheme in last budget.

Let's not forget the lovely property tax for the pleasure of handing out hundreds of thousands of euro to to live in the house.

My heart goes out to you @Dublincailin. With elections coming up we all need to raise this issue. Cold comfort to you now gjough

I haven't given up yet.

Been calculating numbers all weekend and a couple of banks allow public sector go up a couple of increments on their application.

I have requested to have assessed based on current higher increments and also calculated the amounts negotiated in last talks.

Salary at end of 2024 nearly negates what I'm asking for. Also added that doesn't include the 2025 & 2026 rises.

Now I pray for a few delays and hope for best.

I couldn't help but have a little dig, said unless the banks know something public don't I have reason to believe I will receive the negotiated rises.

In the hands of council now.

@Dublincailin I'm here to sympathise with you. I have no constructive advice but this is truely a shocking.
I really hope this absolute shower in government are thrown out quickly. It's disgraceful.

If you are a public sector worker, aren't there special mortgages available to you . Feel very sorry for the young people in this country, my own included.