Andy B wrote:Was thinking about one of these flats for my mum,but i,m not so sure now.
They are great for the security they provide (resident house manager, safety pull cords etc.), the community aspect, they are already adapted for future needs (wheelchair access etc), there will be no unexpected maintenance costs (roof repair for example).
The service charges are the biggest sticking point in my opinion, you need to seriously consider what You are getting or what might be needed in the future and if the cost is justified for your circumstances.
You would not need to be stupid or carelessly rich to buy one, but would need to fully understand the details and consider if it would be suitable for your circumstances, research is key. Don't dismiss the option for the sake of a few naysayers.
The resale fees have changed since the horror stories of the past and the government are proposing to abolish ground rents for retirement living properties (likely to be a way off yet!)