Affordable Housing: how many years before you totally own the property?

[b_murph]

Hi

On the affordable housing scheme how many years before you totally own the property without having to give some of and sell on profit to the council.

Say for example I bought a house under this scheme in 2003 for €120,000 and it is now worth €250,000 on the normal market. If I sold this house in the morning how much profit would I be entitled to???

Thanks

 

[ClubMan]

Re: Affordable Housing

On the affordable housing scheme how many years before you totally own the property without having to give some of and sell on profit to the council.

20 years - see .

Say for example I bought a house under this scheme in 2003 for €120,000 and it is now worth €250,000 on the normal market. If I sold this house in the morning how much profit would I be entitled to???

The OASIS link above should answer your specific question on this issue.

 

[b_murph]

Re: Affordable Housing

Selling your house

If you sell your house within 20 years, you will have to pay the local authority a percentage of the proceeds of the sale. This percentage is expressed as the percentage difference between the sale price and the market value of the house. This amount will be reduced by 10% each year after you have owned your home for 10 years. So, if you sell your home after 20 years, you will not have to pay anything to the local authority.

post from oasis. could someone please clarify this percentage that the local authority take

 

[ClubMan]

Re: Affordable Housing

It may depend on the local authority - for example [broken link removed] what Clare County Council do (just posting this because it's the first working link in a set of Google search results that I received).