The hidden costs of retirement villages - Paula Higgins speaks to BBC's Rip Off Britain.

Buying a house or flat in a retirement village has its appeal, including an array of services on site but be warned, there can be some astronomical exit fees and high service charges, which can affect their resale value. Here at the HomeOwners Alliance we've had customers facing service fees of over £8k a year! And the service charge is still due even if the property is unoccupied. Our CEO Paula Higgins talks to Gloria Hunniford of BBC's Rip Off Britain about what to watch for if you are thinking about buying a retirement property. She quoted HomeOwners Alliance's research comparing retirement villages across England.

🔗https://hoa.org.uk/advice/guides-for-...

She pointed out that retirement homes continue to have poor resale value, with many tending to drop in price even against a backdrop of rising house prices. The high service charges and the exit fees that will need to be paid puts buyers off.

For more information on retirement properties you can find more advice on our website:

🔗https://hoa.org.uk/advice/guides-for-...
Pros and cons of downsizing https://hoa.org.uk/advice/guides-for-...

Have you or a family member bought a retirement home and now have regrets? Please leave your comments below or on our website. We will continue to campaign for change so that everyone gets a fair deal.

Enjoyed this video? Want to see more? Subscribe to the channel with the link below. ⬇️ That way, you won't miss any future uploads.

   / @homeownersalliance-propert8246  

Further ways to connect with HomeOwners Alliance
💻 Sign up to our weekly newsletter https://hoa.org.uk/newsletter-sign-up

  / homeownersalliance  
https://x.com/HomeOwnersAll
  / homeownersallianceuk  
  / homeowners-alliance