Quizzes & Puzzles55 mins ago
New Build Homes- Estate Management Fees
What is your opinion on estage mamagement fees on new build estates?
I am looking at buying a home but would have to pay £170 per year for up keep of the estate, of course the figure could increase over time. Thing is tje plot I am looking at is not near any public grass, Im single so dont have kids using the play area or anything. Id feel Im paying more for others but maybe im wrong
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For more on marking an answer as the "Best Answer", please visit our FAQ.Builders having been prevented from selling houses that are leasehold, have come up with this rouse to fleece buyers. Eventually the Estate Management will be sold off to some investment company, who will keep hiking the fees each year for doing nothing.
If I was to consider buying such a property, a condition of me purchasing the property would be that these fees would never be applied to the property I bought (or to those I sold it to) – otherwise I ain’t buying.
Why do you want a new build, especially on an estate? My idea of hell. If you don't want to pay the fees you will either have to buy an older house; buy a plot of land and self build or buy a new house that is not on a new estate. Near me, two houses are being built on land where a shop once stood. No management fees.
I thought management fees were due to the councils' refusal to accept responsibility for maintaining the public areas. They make it a condition of the planning consent that the applicants will mow and weed, provide and maintain play areas, do the gully sucking - all the things the councils have to do otherwise.
Many new estates are entitled 'unadopted' by the councils, meaning the roads, pavements, street lighting etc have to be maintained by the applicants - ultimately the residents who also pay full council tax.
//If I were to consider buying such a property, a condition o.......otherwise I ain’t buying.
I imagine they wd show you the door and turn to the next sucker//
Would the house builder really turndown a sale of circa £300k for the loss of £170 p.a (which will eventually turn in to £1,000s), that they would never see, having sold the management fees to an investment company (with me excluded)?
Yeah my back lane is apparently "unadopted". To me that always seems an unacceptable dereliction of duty by the council. It was treating the owners of some properties differently to the owners of others. There ought to be a law against it. It never occurred to me it was a thing when, as a young man, I opted to buy the place.
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