spouse of scouse

Editha

I'm sorry to keep being the party pooper, but I still think this is a really bad idea.

The house looks lovely, and having had a Google maps walk round Bridlington, I think it has a lot of charm. If the house had a reasonably sized garden, I'd be tempted to move there, and finally we'd have room for all my husband's books!

But, I still think it is too much to take on for a couple in their seventies, and you are greatly underestimating the difficulties you would encounter. I've owned a large Victorian house (though not as large as this one). They are difficult and expensive to heat, and however well maintained, they need constant attention. At the very least, you can expect to lose a few tiles from the roof each year, and replacing them on a building that tall will not be cheap.

not2old

makes perfect sense & thanks for your feedback, it was just me 'looking at all the options'

There are other places & other properties around the UK where senior retired expats going back to the UK could live & if they wanted to do the 'rent part of it out to supplement their income', that is also doable

On the roof, the listing mentions 'roof replaced in 2008'

I suppose if not renting in ones later years, that buying a 'sheltered housing apartment' in a rural or seaside town may be another option..


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not2old

Maybe on the expensive side, but I figure something more conventional for the returning ex-pat retired folks that have been away a long time, wanting more of the same of what they are used to coming from OZ, Canada, NZ or USA

just saying...

4 bed detached house for sale in Wensleydale Close, Bridlington YO16 - 41067153 - Zoopla

or if that was too pricey

http://www.zoopla.co.uk/for-sale/det...c275109eb8eb7a

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not2old

I'm back on this as an investment idea, rather than fix & flip, buy to let, build then sell - what about 'lease to own' property investment?

Lease to own is something popular in the US & Canada, so why not the UK?

Take someone that already has a property, offers it up on a 'lease/rent to own' option.

You as the seller get up front money, rent for a few years, the lessee has or would keep the place good & at the end of the term either buys it or walks or you as the owner just repeats

Example of one in the following, although low end, the investment is low, risk level & agro level lower than 'buy to let'

http://www.zoopla.co.uk/for-sale/det...aa04983ca25dbc

Imagine starting out buying a relatively low value half decent (in liveable condition after a clean up & paint job) a property similar to the one below & did the lease to own

http://www.zoopla.co.uk/for-sale/det...aa04983ca25dbc

Would this work, what if any would be the negatives or drawbacks?

spouse of scouse

If you joined that private landlord property site I recommended, you could ask these questions and get responses from a wide variety of people who are property investors/landlords

not2old

thank you

Since that earlier suggestion I have done lots & lots of research, with enough Q&A to satisfy the 'rent to buy' as an investment, where I own it, then 'rent to buy' to someone that wants on the property ladder

Just figured I'd update the thread with that info above for anyone looking in

Nothing else from me on this thread

spouse of scouse

I thought since you asked if it would work, and for negatives and drawbacks, that you were asking questions.

For anyone else reading this thread, running your property investment strategy by many people who do this for a living is invaluable - as is making sure that you investigate any tax implications of your proposed investments with a qualified person.