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  • Property-a-holics

    Retirement Homes

    Hi guys,

    Does anyone have experience in buying and renting out retirement homes? I have seen lot of properties available in the 70k-100k region. What is the usual ROI on this and what issues do people face? Also what charges should someone be aware of?

    Thank You

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    We manage a few, they are relatively cheap to buy but the service charges and ground rent (if applicable) can be high £150 - £200 + per month, obviously reflected in the rents so 1 Beds go from £550 - £600 and 2 Bed £600 - £650 in our area, Ground Floor tend to be more desireable and command higher rents.

    You really need to do you due diligence on charges as what can appear a great ROI, may Net out to be same or worse than a standard let and your also bound by whatever restrictions the complex may have.

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    A landlord that was selling up near me had 12 properties, I bought one and looked at all the others including a retirement home. It had a separate large living room, dining facilities, washing machines etc. But did come at a price £280 a month plus from memory and there's a limited amount of retired people who can afford £600/650/750 a month, most that can will also have the 70k and buy them 

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