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Retirement Villages...Rent or buy?

PolyannaYorks Posts: 3 Newbie

3 March 2021 at 2:27PM in House buying, renting & selling

Quite a number of Retirement Villages are now giving the option to buy or rent...can anyone advise on this please?

When you leave a Retirement Village (at death or whatever!!) there are always high exit fees to be paid...on top of the charges accruing monthly until the property is sold...now you have the opportunity to rent ..would this be the best option?

I worked for a Retirement apartment/bungalow company a number of years ago & resigned because I thought the system was disgraceful...with monthly charges having to be paid until the property is sold. In one of 'my' developments a young couple were faced with increasing debt every month as their mother's apartment was not a good saleable property because the company was building new apartments a mile or so away and offering incentives to encourage sales!

I vowed I would never buy into retirement properties for this reason ...and the exit fees...however.. Retirement Villages seem to offer a certain security but ..I wondered if renting would be preferable?

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Retirement Villages...Rent or buy?

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