Advice on 55s village plot - no strata
I have been having a look at some of the properties on the market at the moment and I came across an over 55s block for sale. 4 townhouses, no strata titled.
Firstly - I'm not to informed on whether investing into retirement villages is a good idea. Seems like you limit your market and health issues can cause rental consistency. Your thoughts on this would be welcome.
Secondly - the fact that it's not strata titled. Is this an advantage for an investor? Why?
Thirdly - If you buy the plot, is it then possible to change the townhouses away from retirement / over 55s, and instead open it up to the rest of the market?
What sort of agreements are there generally with the managers of the complex?
In advance thanks for your help.
I have been having a look at some of the properties on the market at the moment and I came across an over 55s block for sale. 4 townhouses, no strata titled.
Firstly - I'm not to informed on whether investing into retirement villages is a good idea. Seems like you limit your market and health issues can cause rental consistency. Your thoughts on this would be welcome.
Secondly - the fact that it's not strata titled. Is this an advantage for an investor? Why?
Thirdly - If you buy the plot, is it then possible to change the townhouses away from retirement / over 55s, and instead open it up to the rest of the market?
What sort of agreements are there generally with the managers of the complex?
In advance thanks for your help.
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