Quit everything , and start again over 50?

another_casualty

Thanks harz . Will keep you posted

enthusiasticsaver

Property management companies pile up fees on selling flats through their various reports. I am surprised your solicitor hasn't asked for money upfront for all these. We had to pay a small fortune in fees to propert management co when we sold a flat our daughter lived in while doing her PhD. I would not worry about the breach of covenant form. May go back a long way. Haven't you lived there for a long time?

lessonlearned

AC. Try not to worry about it, it's probably just routine stuff.

Re the fees. You'll gather I have a very low opinion of management companies, but they do nowt and charge the earth for not doing it.

Which is why I won't ever buy leasehold........I would rather have a small terraced freehold house than even the swankiest of apartments.

I don't mind renting, i have done in the past and I would again, because the landlord has all the hassle, not the tenant, but I would never buy.

Management companies are just a licence to print money.

another_casualty

Thank you
Lived here 14 years . My solicitor did say a while back , about a charge ( I think it was £250+vat) not taken yet .
It could be that he may want a payment now.
If that hurdle is cleared , it may not be long before exchange

another_casualty

Just tried calling him. Engaged. I called because my colleague was out .
Will call him later around midday , as I said yesterday .
Amazing what solicitors etc does to your blood pressure

Smodlet

My two-pennorth, completely agree with you, LL. Never buy a flat, they are all leasehold (almost) or anything else where you don't own the ground it stands on. Exception? Tent.

enthusiasticsaver

Ideally I would agree LL and Smodlet and try and avoid flats. We did buy one for our daughter to live in while doing her PhD in a city 200 miles away from us. Initially she rented it at a cost of £500 per month back in 2009 and that was in a mediocre area. The landlord wanted to sell and we were in position to buy having just paid off our mortgage and the mortgage was less than £200 per month, £30 management fees on top. Just saved her a lot over the 5 years she was studying and working there and to be fair the management company weren't bad but they did slow the sale down and charge extra fees but we considered it a small price to pay considering it saved our daughter thousands over the 5 year period. Now she is again moving to a flat in Bristol as she can't find any houses in her budget whatsoever. No choice really. It can't be easy to find affordable houses in Poole either so I guess that won't be an option for AC.

lessonlearned

I agree - there are circumstances where buying a flat can be advantageous, as your post highlights.

However, given ACs circumstances I am not 100 per cent sure that it would be in his best interests.

AC At first I wasn't too concerned about your insistence on buying a high end flat in one of the most exclusive areas of Poole (not counting Sandbanks). However, now that you have revealed your lack of adequate pension provision then I do feel you are skating dangerously close to thin ice and I would advocate caution.

Those maintenance fees might not sound too bad now but in years to come they could be a very heavy burden.

As a matter of interest I did a very quick RM search, eliminating apartments from the search and Using a min requirement of 2 bedrooms, setting parameters of £125k miniumum to rule out park homes and holiday only properties up to a maximum of £200k.

This is what I found.....

Dorset .........236 houses
SOmerset .....845 houses

AC if you were prepared to broaden your search I am convinced you would find a nice little freehold house or bungalow well within your budget, free from maintenance and service charges and with change to spare to boost your pension pot.

This would still in your preferred part of the UK and within easy train or coach distance of Poole to keep in touch with your friends.

There are plenty of delightful market or seaside towns dotted throughout Dorset and Somerset. There would be no need to venture into "grim oooop north territory" :rotfl:

(Although as some of us are well aware there are some beautiful areas north of Watford..........It's not all "Dark Satanic Mills" you know, indeed, it never was.)

The beauty of the Midlands and the North is one of our better kept secrets.........;)

another_casualty

Ok . Long and painful call to my solicitor :
1) he is playing catchup, so I won't upset him .
2) Propery mgt co slower than snails having sex.
Everything is long and drawn out . They don't reply to anyone .
3) he thinks chase Buchanan are playing games , and that they want their commission & that he is under the impression the buyers are not rushing to get in as I thought .common with estate agents apparently .
4) the facsi a . I have to send him a oicture of the outside of my property , so he can advise how much I should pay etc.
5)he wants another £200. ( property mgt co issues)He has some cash from the original payment I made . He is looking after me on that score.
6) I have to phone property mgt co and he will also
7) completion - end of October at the earliest
8) aaaaargh

lessonlearned

Smodlet wrote: »

My two-pennorth, completely agree with you, LL. Never buy a flat, they are all leasehold (almost) or anything else where you don't own the ground it stands on. Exception? Tent.

Maybe a chalet at the coast, but that would have to be in addition to a primary "proper" residence.

I quite fancy a nice chalet for summers by the beach - a little bolt hole for me and somewhere for future holidays "en familie" - fun playing with future grand children on the beach.....:rotfl:

I just missed out on a really fab caravan at Mudeford Bay. Hey ho I'm sure there will be others.