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Legal & money

Leasehold retirement flats

(5 Posts)
Daisyanswerdo Sun 12-Feb-12 16:23:48

I moved into a small leasehold retirement flat in the centre of a city last summer. It's all I could afford, and I'm happy here, but I sometimes read about the problems that come with buying leaseholds and worry that I'm leaving my children with the problems. Does this apply to any other gransnetters?

gangy5 Sun 12-Feb-12 16:50:27

Daisyanswerdo - I don't think you should worry, it is not a disadvantage to own a leasehold flat. The only downside is that they are difficult to sell on if there are not many years left on the lease. With retirement flats I'm not sure how they are dealt with concerning the lease - this could be different. I can't see that you'll be leaving problems for your children. I'm am sure that their only concern will be to see you happily settled and as you are happy, they should be happy for you!! I wish you all the best in your new home.

Daisyanswerdo Mon 13-Feb-12 15:15:55

Thank you gangy. I think a lot depends on the management company of the flats. Some try to extract 'exit fees' which seem to be unjustified. I've found a campaigning organisation looking into this. But yes, you're right - my children are pleased I'm happy, bless them. Thank you for your good wishes.

MrsJamJam Mon 13-Feb-12 19:48:16

My parents moved into a retirment flat last summer and we told them we were just happy to see them somewhere they liked that relieved them of all the responsibility for big house and garden which had been getting too much for them. My brother and I agreed that we weren't going to worry about resale values when we eventually inherit. We want happy and safe parents now and any money later is a bonus. If there isn't much, never mind.

gangy5 Mon 13-Feb-12 22:29:32

MrsJamJam - you sound a very kind person with admirable sentiments. I will hope that my children are like minded at a later date!!