Would you recommend AH in this instance?

M

maison

Registered User
Messages
53
Hi,
I have been on the look out for a property for some time now and waiting for the right time and personal circumstances to buy also.

So I have found a 3 bed semi house that really interests me (location, style, size, nice estate etc), it is quoted on daft.ie for €219,000 and on the affordablehome site for €195,000 under that scheme.

As far as im aware I would currently just about come under the requirements for this scheme before my next pay increment anyway. I also have at least €20000 saved for a deposit.

What would people recommend from your experiences at this point in time?
 
I wouldn't buy it under AH. If you put in an offer for less that the daft.ie asking price you'd probably get it for less. AH reduction isn't enough to make the AH terms and conditions worthwhile. I'd hold off for a few months or a year and you might be get it for a lot less on the open market.
 
Definitely do not go affordable housing if you can buy it yourself.
The AH scheme is in reality at least a 10 year commitment. The AH price is only just over 20000 cheaper (mine was 105000 difference), you should have no problem getting a mortgage for it.
 

If the difference is only €24,000 then I wouldnt touch the AH with a bargepole. Why dont you put an offer of €195,000 on the house that is advertised on Daft and see what happens.
 
Hi guys,
Thanks for taking the time to respond. Im now thinking you're right. This estate isn't near completion yet, I took a drive the other day and it looks as if they are still clearing ground for more houses and very few inhabited already. So waiting a few months and keeping an eye on things might be prudent and sure maybe a bargain will be got by summertime and I might be able to save another €10,000 by then.
 
i'd recommend you buy this privately, i have bought through affordable housing and there is alot more paper work in buying them out that you realise... i'm a very organised person and found it a little stressful when buying them out. its not much of a diff in the whole price between AH and private, so i'd go private if you can afford and get the mortgage.
 
maison i think your right to do that... i live in an estate that when we moved in was like a building site, its still about 5 years away from completion (huge estate), with train station on the way etc.... we've had to wait so long for alot of things.. own bus route, shops etc... that i swore that i would never move into an estate again that was only half finished like that, i would not mind moving into a new estate that was complete, or about 6 months from completion, but i'd never move into a half finished estate again. It even creates difficulty with mgt companies as they dont get stuff handed over until complete etc, so they won't be able to touch some parts of the estate even if in a mess yet you still have to pay your fee.
 
You must log in or register to reply here.
Menu
Log in
Register