Private Rent/Jump in & get a Mortgage/wait and see if Affordable Housing will improve

  • Thread starter Discrepancy
  • Start date
D

Discrepancy

Guest
Hi,

I am in a alot of despair and i need advice on what to do...

I have a g/f of 7 years and we have a 4 yo boy. We were renting but last year we decided to move into my mother so that we could save for a house.

We have saved 20k and we need to get out of my mothers asap (for various reasons)

My options are...

Jump in and get a mortgage. I would get about 300k which is not gonna get me much in dublin and i dont want my son growing up in an area that i could afford right now (im living in clondalkin so im not a snob!) and im very anxious about investing in property at the moment until i see what happens with the market.

Wait and see if the affordable housing treshold increases (its 40k at the mo in my area, i earn about 45k)

Private rent

I am being driven to the depths of despair and would really appreciate any comments/suggestions.

Thanks

Alan
 
No harm in waiting until Wednesday's budget to see what changes are made-some may be of benefit. I haven't heard anything about changes to affordable housing myself.

If you need to move out, do so, rent and claim tax relief on the rental expenses. Continue saving until you can find somewhere you are happy to buy both in terms of location and price. You have done well to accumulate €20,000-keep it up.
 
Re: Private Rent/Jump in & get a Mortgage/wait and see if Affordable Housing will imp

If yourself and your partner apply together you may be under the income threshold. You do not have to be married to apply as a couple, you will also be more likely to be offered a three bed house if you apply as a family.
 
Re: Private Rent/Jump in & get a Mortgage/wait and see if Affordable Housing will imp

Discrepancy said:
Hi,

Wait and see if the affordable housing treshold increases (its 40k at the mo in my area, i earn about 45k)
Click to expand...

Is this for Scheme or Initiative?

Initiative threshold is alot higher in some council areas(upto 55k), see [broken link removed] ,its done by lottery but there is a chance your name would come up instead of a long wait on the scheme list.
 
You must log in or register to reply here.
Back
Top