People who have bought retirement homes in 2005 have not only decreased there property have decreased in value but they are struggling to sell them on.
For the people trying to sell there retirement home losing negative equity is not the only financial loss the huge management fee that they get charged.
The management fee have to also be paid by the family if the home owner passes away. So when looking at these luxury resident homes just be aware of the extra costs. Ask questions like when you look to sell on the property do you have to sell through the home builder or can you use your own independent estate agents.
