1 bedroom retirement property for sale

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1 bedroom retirement property for sale

Homeprior House, Front Street, Whitley Bay
£28,000

Price History

Initial price £35,000
26/10/24 £28,000
Price Change -20.00%

Description

This property is a one-bedroom retirement apartment located on the second floor of Homeprior House, a development comprising 46 properties. The property is being marketed as an example of a property that can be purchased using a Home For Life Lifetime Lease, which allows those aged 60 or over to secure the property with a lifetime lease and a share of the property value to safeguard for the future. The cost of the lifetime lease is typically less than the full market value, with an average saving of 30%. The property's market value is £40,000, but the price for a Home For Life customer would be £28,000, a saving of £12,000. The property has an entrance hall, lounge, kitchen, one bedroom, and bathroom, and is served by a lift and a 24-hour emergency call system. The property is being marketed by Homewise, a company that specializes in providing retirement living options for those aged 60 or over.