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Retirement Apartments

(6 Posts)
Allsorts Fri 09-Oct-26 08:11:25

Last night on ITV, there was a programme about people who bought retirement apartments which substantially lost value, upon their deaths their children inherited the problem. Some going for a third of the original cost and tripled service charges. I hope something is done to stop this. I felt so sorry for the ones having to sort it all out when they are not young themselves. I was thinking maybe I might get one in the not too distant future but it changed my mind.

blue14 Fri 09-Oct-26 08:34:21

There are some really lovely ones recently built close to where I live. I visited them and was really impressed.
However the service charge was very high and there are restrictions when the time comes to sell.
I'm so pleased I decided not to go ahead.

Maybe a good idea to 'future proof' your present home if that's possible.

Kandinsky Fri 09-Oct-26 08:47:11

What was it called?
I’d be interested in seeing that.

Meandrogrog Fri 09-Oct-26 08:48:40

I wouldnt buy one, my mother had one, it took ages to sell, but the charges still applied which myself and brother were liable for. They are hard to sell. It was a real worry for us at the time.

Primrose53 Fri 09-Oct-26 08:57:48

I watched the prog. Last night.
Very sad state of affairs. Similar to park home sites where people buy luxury mobile homes or villas and then the site fees almost double. Totally wrong.

Tenko Fri 09-Oct-26 09:34:43

What was the programme? I’m interested as my mother is in a retirement flat .
There’s a lot of negatives regarding selling them and the service fees . However my mother has been happy in hers . She’s been there 11 years and moved from a 4 bed detached house a long way from facilities, to a 2 bed ground floor flat with a patio . She’s a few minutes walk to a high street with everything she needs . She’s made friends , where previously she was isolated. It’s a gated development, so she feels safe and she had parking for when she drove .
We did look at normal flats in the area but heard that some are rented to the LA . At least with retirement flats , there’s no issues with noise or anti social behaviour.
So there are pros and cons .