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Services charges on an over 55's flat
Comments
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To be honest I think that has happened already.
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I spoke to my friend the other day and he said he's not buying it because the freeholder seems tricky.
I thought it was a bad idea before I asked for advice here because I wanted to check that I was right
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There a block near me for over 60s. It has a warden on site who works M-F 9-5. Outside hours the phone goes to a recorded message or to a call centre miles away. So the warden services are business hours only, there is a communal lounge, laundry area and a few activities organised by the residents. The service charge is high. These flats go for around £150k for a one bedroom in reasonable condition, but small. Similar flats nearby sell for £250k, so that gives you an indication of the effect on prices that high service charges give.
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What kind of home/accommodation does your friend currently live in, e.g. two-storey 3-bed house, etc? What do you think they will do… stay in their current home or look for something else?
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I wonder if this discount will increase or decrease in future? I.e would buying a flat like that be a bargain or a disaster.
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I think they will continue to rent and eventually move and buy somewhere cheaper - sadly they will have to move a long way before they can buy.
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Thank you for the update. I wonder if they may qualify for anything offered by a local registered provider/housing association as that may be cheaper.
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No idea - although I'm glad that they didn't make this investment it's a sad state of affairs.
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These charges are imoral, excessive. Should be banned.
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