How to maintain the value of your retirement property
If you want to safeguard the value of your home here is a checklist of 10 things you should look for before you buy
- How attractive will your property be in 10 years time? Is it near good transport links and the High Street?
- Will a future owner face steep ground rent increases?
- How involved is the housebuilder in managing the development?
- Does your apartment have good views, balconies and spacious rooms which will be more attractive to a buyer as well as gardens, choice of communal areas and sufficient parking.
- If the local town has suffered a downturn economically this will impact on the value of your home.
- Buyers want new, bright, modern apartments – so give your home a coat of paint and replace carpets before offering for sale.
- How welcoming is the owner’s lounge? What other facilities are offered? Does it have a restaurant like the one pictured above at Wadswick Green? Or a guest suite?
- A development which has exit fees gives the operator an incentive to keep values high, as they benefit too.
- Developers are always keen to help you buy one of their properties but what re-sale support do they offer; apart from recommending its preferred estate agent?
- Does the development offer meals or care services that will make it attractive to older buyers?