Affordable housing.. Is it worth it.

[Fingal aff]

Just wanted to see what people think. Apartments seem to be overvalued which makes the clawback high. The way apartment prices are falling, waiting a few months even a year and they could reach a price bracket that anyone who is on the affordable housing lists could afford. Its uncertain times. Is it worth waiting!??

 

[Artois]

Re: Afforbdable housing.. Is it worth it.

Hi Mr Fingal,

I'm pretty sure if your referring to aff homes in Fingal it is not worth it. Fingal houses are pretty much affordable anyway and the savings seem to be very small like 50k or less.

There is definately affordable value in DCC or Dun laoghaire Rathdowne - a good example is Thornwood these apartments cost €640k+ however under the scheme you could pick them up for €250k.

I can see no logic in buying an affordable home in an affordable area as there is little advantage whereas buy an aff home in an expensive area and your laughing.

 

[colc1]

Re: Afforbdable housing.. Is it worth it.

I think it is worth waiting and to the response people must be crazy paying over €600K for an apartment thats money down the tubes! They're never going to stay at that price long term or even medium term. I think the 15 or 30% or whatever it is these days all these think tanks say that irish houses are overvalued could be revised significantly upwards in the case of some of these areas.

Even €250K is ridiculous I am from DLR and I wouldnt think about applying for an áffordable' dwelling especially at this uncertain time for that kind of 'áffordable' price and I do have to say €50k reduction in fingal is not to be sniffed at tho I do come to the conclusion its a bit far out in general from talking to people from that area even if you're working in the city centre tho I wouldnt rule it out as prices are a bit more sensible there.

 

[stephen1381]

Re: Afforbdable housing.. Is it worth it.

I'm having second thoughts myself, The affordable houses in Fingal seem to be way too small and over valued, for example the houses Fingal have in Balbriggan are way over valued at 285K. Fingal are selling them at aound 156K after the clawback, pretty cheap but they would be difficult to sell on in the future given they are so small