New house next to affordable housing

Dt1412

Hi there.

Was just wondering if some people could possibly offer me some insight. My wife and I have found a Taylor wimpy 3 bed detached new build in a very big development close to sheffield where we are looking to buy which we are very keen on.

After looking closer at the site plan I've noticed that the building next to is is going to be 2, 2 bed semi detached affordable housing houses. As I'm a first time buyer I'm not 100% sure what exactly this means and my quick search on google didn't bring me an immediate answer so thought I would ask here. Can anyone shed any light?

I'm not so much of a snob that it would stop me buying the house but I would like to at least understand what affordable housing is and what it effect it could potentially have on me and my family in the future. I also know how sales work and wondered if this may potentially give me some extra room for negotiation??

Thanks

Building_Surveyor

Could be anything from social housing to shared ownership, Newbuy, help to buy schemes. Affordable houses covers a broad spectrum of things. If its social housing it will be sold on to a local authority or housing association.

Dt1412

All of the houses on the development are available on the help to buy.

If it is housing association then who qualifies to purchase these from the housing association or do these then become rented??

gazzabboi

It depends on the developmentand what housing association they are using. Generally they are houses where they sell for full market value, but the owner buys shared equity and pay rent to the housing association on the rest. I wouldn't be too worried as most developers have to provide a certain ammount of ha plots. Sometimes you might get clampits move in, but rarely.

witchy1066

not sure what it means in England but in Wales its a bit like the equity loan mortgages,

this might help you understand but I do stress this is in Wales

http://www.newport.gov.uk/_dc/index.cfm?fuseaction=housing.affordablehomes

Building_Surveyor

It's up to the housing association what they do with their stock, all depends on demand. Tbf I was in your position. I bought on a new estate next to affordable housing. Some are rent and some are shared ownership. I had no issues.

Dt1412

Is it likely to have an effect in say 10 years time if I want to sell?

Dt1412

Building_Surveyor wrote: »

It's up to the housing association what they do with their stock, all depends on demand. Tbf I was in your position. I bought on a new estate next to affordable housing. Some are rent and some are shared ownership. I had no issues.

Did you haggle on the price due to this??? I've no issues with affordable housing but I also have no issues in using it to my advantage if I can get a better deal.

Thrugelmir

Dt1412 wrote: »

Is it likely to have an effect in say 10 years time if I want to sell?

I would be more concerned that it's a Wimpy build than the potential neighbours. People are people. Having money doesn't make them better neighbours.

witchy1066

why should it have an effect on when you sell, the houses are being bought just the same as yours ,

whoever buys them has to get a mortgage just the same as you ,and has to pass strict criteria to even apply

it is a scheme to help low income family's get on the property ladder, they own a good proportion of the house,

I don't hear these kind of comments about shared ownership schemes or equity loan schemes

OP and any one else if you are in England and affordable housing means something different to herein Wales then I am sorry, but please read what this scheme is before making judgement

witchy1066

Thrugelmir wrote: »

I would be more concerned that it's a Wimpy build than the potential neighbours. People are people. Having money doesn't make them better neighbours.

:T

thank you Thrugelmir, after a hard day trying to place a battered young mother in a safe environment I needed that to restore my faith in the human race