Buying Your Retirement Home
At Fraser Dawbarns LLP, we have many years experience helping clients buy and sell their homes and our Conveyancing Team can advise you on buying your retirement home.
We understand that when you have made the decision to purchase a property for your retirement, whether this is to downsize to a more manageable property or to move into a retirement/warden controlled property, we need to keep you informed at every stage of the purchase process.
If you are purchasing a property within a sheltered housing complex or a warden controlled apartment block, you will usually be buying on a leasehold basis. There will be detailed lease terms and conditions for us to explain to you.
It is often the case that age restrictions are included in the lease agreement, meaning if you are below 60 years of age, you cannot be an owner of the property. This can of course affect the saleability of the property in the future as it limits the number of people who can purchase the property.
We will check these detailed terms and conditions and also make enquiries with the seller’s lawyer or the managing agents of the property and advise you what service charges and management costs you will have to pay.
Very often with retirement properties the annual service charge will cover items such as the maintenance of common parts of the building e.g. communal lounge, garden areas, buildings insurance and the costs of the on-site warden.
Our Service and Costs
Our highly trained lawyers will keep you informed of progress through a method of your choice. With offices across the region, we are close by if you need to meet face to face to discuss an urgent issue or unforeseen problem.
We provide a fixed cost for our service but remember you will need to pay a variety of other expenses such as stamp duty land tax, Land Registry fees, VAT and search fees.
If you would like further information, why not contact us today to see how our affordable and efficient services can help you secure your retirement home.