Homewise says ..

Property Oracle says ..

This property in Ilfracombe, Devon, is marketed as a ‘Home for Life’ lifetime leasehold property, specifically for those aged over 60. It’s a two-bedroom property with approximately 852.5 square feet of living space. The photos reveal a property that is habitable but requires updating. The kitchen and bathroom are noticeably dated. The property has a small paved garden. While the list price is relatively low compared to freehold properties on the same road, it is crucial to understand that this is a lifetime lease and may not suit all buyers. The low price is likely reflective of the restricted nature of the ownership and the need for modernisation. Location-wise, Ilfracombe offers a desirable coastal lifestyle, and the property’s proximity to schools is an advantage. However, the lack of specific details concerning local transport and amenities necessitates a cautious assessment. Potential buyers should carefully evaluate the terms of the lifetime lease and weigh the cost of necessary renovations against the affordability of the initial purchase price. The property presents a niche opportunity for older buyers seeking an affordable coastal retirement option, but prospective purchasers need to be fully aware of all the implications of the unique ownership structure.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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