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How much of a pain is a leasehold property? All ready to offer on a house
Nobody wants a leasehold house if they can avoid it.
That lease - it’s short - will cost you money.
There might be all sorts of bullshit conditions and restrictions associated with it that you’ll only find out when you are balls deep.
Freehold houses can have conditions and whatnot but leasehold is a worse position to start from.
That said if you can get to the bottom of it and force the current owner in to starting the process of a lease extension before you buy it might not be a terrible decion to pursue it, depending on what else is available at your budget.
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Once you read a lease you realise it’s like paying the rent up front. If it’s not a flat I would avoid it.
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How much of a pain is a leasehold property?
Depends on the terms of the lease. In any event you'll want to extend the lease before it gets below 80 years, so that'll be an additional expense coming up fairly soon.
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Slightly different situation here but we're in the process of buying a leasehold house with 800+ years left and at the same time purchasing the freehold and it does add complexity and some costs
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Howard
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Brommers
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@Brookly_Bay
How much of a pain is a leasehold property? All ready to offer on a house we were blown away by only to spy its leasehold at the last minute! Looks like 86 years left on it as it was a 99 year lease in 2008.