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Tin Foil Hat

Life Leases For Over 60S

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A new one to me.

My previous home in SE Essex has come back on the market for an eye watering 660k for a 3 bed semi which has been fully "Essexed" (souless magazine like modifications and decor, front garden turned into a big coloured gravel bed, back garden cleared of fruit trees and planting and turned into one lawn etc). Now that's their choice but they have a twist in their offerings, a life lease deal for over 60s.

I've not heard of this and for the princely sum of 440k you can have the privilege of living there until you pop your clogs (in theory) and then presumably the house is then open to the current owners to sell or rent out again.

Thing is, 440k is a lot of money even to a boomer so why would you want to spend that amount on upfront rent and have nothing to show for it at the end? Am I missing something? What happens when you need modifications to the house for wheelchairs, wet rooms, handrails etc?

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Had a lot of these home for life properties in the last six months in my part of the SE. Things have tailed off now though and only very occassionally one comes to the market. It seemed to me they might have been ex BTL or we'll buy any house type of properties so wondered if someone or a company was offloading a large portfolio. It co-incided with pension freedoms if I remember rightly so they

were obviously floating it as a fantastic idea to people who suddenly had access to a large pension pot. Bit of a niche market though I would have thought hence the decline in properties on offer this way I guess.

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A new one to me.

My previous home in SE Essex has come back on the market for an eye watering 660k for a 3 bed semi which has been fully "Essexed" (souless magazine like modifications and decor, front garden turned into a big coloured gravel bed, back garden cleared of fruit trees and planting and turned into one lawn etc). Now that's their choice but they have a twist in their offerings, a life lease deal for over 60s.

I've not heard of this and for the princely sum of 440k you can have the privilege of living there until you pop your clogs (in theory) and then presumably the house is then open to the current owners to sell or rent out again.

Thing is, 440k is a lot of money even to a boomer so why would you want to spend that amount on upfront rent and have nothing to show for it at the end? Am I missing something? What happens when you need modifications to the house for wheelchairs, wet rooms, handrails etc?

Every day that I read of something new like this it reinforces why it's now so important for me to leave this once great country asap. They're supposed to be homes for people (the 2nd tier of Maslow's Hierachy of Needs no less) to live and raise families in not a bl**dy 'investment' for speculators. I really do despair and am so glad I started on Plan B at the same time as signing up this great site.

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Now third by the way ....

Wifi-Basic-Human-Needs.jpg

:-) I don't know. Maybe I'm just getting old or maybe even heading into tin foil hat territory but I'm getting to the point where the internet is becoming less and less valuable to me. I still use it for rapid price discovery/research from an investment perspective, use it for my blog and to post on HPC but otherwise I'm now pretty much out. Part of this is because I'm acutely aware that marketeers/techies within corporations are getting more and more aggressive when it comes to data harvesting and trying to sell me stuff I just don't need and I value my privacy. The other part is that I've now opted out of consumerism and so I don't need to buy anything.

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:-) I don't know. Maybe I'm just getting old or maybe even heading into tin foil hat territory but I'm getting to the point where the internet is becoming less and less valuable to me. I still use it for rapid price discovery/research from an investment perspective, use it for my blog and to post on HPC but otherwise I'm now pretty much out. Part of this is because I'm acutely aware that marketeers/techies within corporations are getting more and more aggressive when it comes to data harvesting and trying to sell me stuff I just don't need and I value my privacy. The other part is that I've now opted out of consumerism and so I don't need to buy anything.

While I tend to agree with you about the data harvesting you might try running Tor just to make most of their snooping ineffective. My boys reaction to an utterly stupid blocking policy at school was to put Tor on a memory stick and run it on the school computer. Now he can get at his homework in Dropbox, browse Wikipedia, use Google search and even look at the school web site - blocked by the school. If you use Tor you appear to be coming from almost any place on the planet that has computers other than where you really are.

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When did you sell,what did you sell it for (price)

2011, 420k I think (escaped to the North for an acre and a decent chance at childhood for my son)

Edited by Tin Foil Hat

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