Retirement appartments assisted move question.

chinateacup

Has anyone any experience of MHA housing and care for older people? Particulary their Assisted Move option, when they guarentee to buy back the property for 95% of your purchase price in the future. This seems such a good deal, too good to be true. Basically you buy one of their retirement apartments, pay all the service charges etc, then if you want to move or you die, you sell back to MHA and they give you 95% of what you paid, no matter how long ago it was. Is it too good to be true, what am i missing here?

sleepless_saver

Is it 95% of the price originally paid, or 95% of the market value at the time of sale?

chinateacup

they say it is 95% of what you paid originally.

sleepless_saver

So if prices went up you would not benefit from the increase.

Can you sell to other people i.e. at market value or do you have to sell back to MHA?

It doesn't look like a great deal but I can see some attraction in the guarantee as this kind of housing can be very hard to find a buyer for...

jamesd

You're missing inflation. That will reduce the real value of the guarantee over time.

margaretclare

If you mean McCarthy & Stone or similar, when AgeUK had discussion forums there were terrible comments about these. One big problem is (1) maintenance charges, which can be very high and (2) what happens when you want to sell it again - you can only re-sell back to them.