Freehold Offer - Should I buy it?

michelleantoinette

The company that owns our Freehold have offered it to us to buy for £610. Should I buy it? Is it worth buying? Currently we pay £2 a year in rent. We are not looking to move but if we did does having the ownership of the Freehold better for selling?

Also, if we own the Freehold, can we do what we like on the land? For example, run a business from the house?

Thanks for any advice.

Michelle

Zaphod_Beblebrocks

Depends why it was leasehold, sometimes as in our old maisonette it was there purely to ensure that if say the roof needed doing the downstairs owner didn't refuse to pay half - you could apply to the leaseholder to settle the dispute, my sisters house is leasehold and the leaseholder is the firm of builders who put up the houses and she has to apply for permission to do just about anything,put up a shed etc and there is usually a fee.So I would say look at the terms of the lease and see what restrictions it imposes and what if any benefits it has.