Rob talks about the advantages and disadvantages of both freehold and leasehold properties, highlighting a news article about leaseholders in London being hit with unexpected service charges. Rob delves into the benefits of freehold properties, such as ownership of the land and building without the need for permissions or additional costs.
"The housing sector is not perfect, yet there are some significant advantages and disadvantages of both freehold and leasehold."
"If you want to put up a picture frame, for example, in your home, you're not going to have to get permission from yourself to do that. You might need to get permission from your wife, though, just in case."
"The disadvantages of leaseholds is that they normally come with ground rent, they normally come with service charges. And that can have an impact on your yield, that can have an impact on your cash flow."
"The big advantage of a freehold is you've got the freedom. You've got the freedom to do things. You don't have to ask many people if you need to do something, which is good."
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
WHERE TO FIND US