Benefits of owning a share of a freehold?Make Text Bigger
I own a flat in an 18 flat development. I get a good rental and the service charge is very reasonable. The flat next to mine is coming up for sale and I am seriously thinking of buying it. However, the freeholder has decided to sell the freehold and has offered the leaseholders first refusal.
Can any members enlighten me as to the benefits or pitfalls to buying the freehold?
I know the majority cannot afford it as it equates to £11,000 each. However, three leaseholders have shown an interest in buying the freehold complete.
Forgive me if I sound a little naive as I am new to the landlord business and only have the one property in my “portfolio”.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.