COMPLETELY unreasonable rant - but why are retirement flats so much cheaper than flats which aren't specifically for retired people?

[theUrbanNixie]

Just been looking at houses online, and got all excited when I saw a 2 bed ground floor flat for under £150k then got depressed when i realised that it was only for retired people.

bah bollocks and yah boo sucks to the old people! why don't they pay the same as the rest of us eh?

(told you it was unreasonable)

feel very bitter at the moment...

You should get dressed up like Nan in Catherine Tate and buy it.

Aren't they on a limited lease with high mainenance charges ? Plus resale value is less as more limited market.

in my area they are always more expensive.

My MIL moved into a retirement flat last year, and the reason her flat is so much cheaper than normal flats is because you couldn't swing a cat in it. Much, much, much smaller than any "normal" flat I've ever been in. Small, cramped - and despite the fact it's meant to be for a couple, it's too small even for one person to live in comfortably. You can stand in the middle of her kitchen and touch all four walls, same with her bathroom.

And it's all set out to look like an old people's home - rooms along long corridors, twee little residents' lounges full of chintzy furniture and three month old magazines.

It's grim.

They have very high charges for maintenance/caretaker services, which make them a rip off.

time to move area?

You can normally only sell them back to the company who owns the block, so they control the prices - and they have high maintenance charges.
My mums friend lives in a beautiful one in a country house converted into retirement flats with lovely grounds.

Lulu - i thought that but i've just started back to work and ds is settled into nursery now. and also we only just moved here!

the retirement flats i saw on rightmove.com are about the same size as a maisonette we viewed which admittedly wasn't huge but would have been big enough for us 3!

Lots of flats crammed into a tiny space so land costs are lower, fewer planning obligations (education contributions) etc to pay out, high turnover of flats with fees for moving...

On the bright side you only have to be 50 to buy one

i like grouphug's idea

isn't someone going to come on with an face and tell me i'm being totally unreasonable and these people fought in the war so they're entitled to their cut-price housing and anyway they get such small pensions etc?

it's a conspiracy, I tell ye! A blardy conspiracy

do you know, these people fought in the war so you could have housing of any kind, young lady you should be grateful that you live in a country where you are free to be unreasonable.

go on go on go on go on

oh, that's so true isn't it HedgeWitch.

i'm obviously not cynical enough

they have strict resale criteria (age, level of independence) and high service charges and ohther criteria in England/Wales they are leasehold 125 year and scotland freehold

McCarthy and Stone