You are considering buying an apartment for 300K on the affordable housing scheme where the management fees are over 3K a year...in a development that won't be finished for years (if ever). How much can you borrow on the open market with that deposit saved?
See also
http://www.askaboutmoney.com/showthread.php?t=110413
The managing agent can't be changed until the the developer hands over the common areas to the management company. You are also funding the management fees of the unsold units for the development. I know we approached our agent, and wouldn't take over directorship (in housing estate for various reasons) and they would allow up to change supplier for some items but the savings would not be passed onto the management company members, rather held in the sinking fund. e.g. we've seen no reduction in fees. If directorship can be taken over, when all units are built and sold, then the agent can usually be changed and fees revised down.
The area of developers not paying their share of the management fee for unsold units is not regulated and means you are paying the difference. It also means that if the developer went into liquidation you could be left with a nightmare that some find themselves in. It has been documented on RTE news link on [broken link removed]. It's halfway through the 30 min clip.
Sorry to sound so negative, however, I know someone in a similar position who purchased via AH last year with similiar deposit and high management fees (€1600) and they would walk away now. The development is nearly finished but there are a lot of vacant units. It takes 3 months to renegotiate the price, especially over the summer when there are less DCC staff. The reduction has to be approved at the montly meeting.
Some questions for DCC or the estate agent?
What's the occupany rate?
% owner occupiers to rented?
Who is the management agent? Is it the developer?
Is the management company solvent - when were last accounts filed - see cro.ie
Best of luck whatever you decide.