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Retirement Apartments

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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.

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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.

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

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

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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.

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