Here we list a few of the reasons why you may consider a Short Lease Property as an investment or home and a few things to look out for.

Pros

• Buying a short lease property may be cheaper than renting in some prime areas of London.
• Significant gains can be made on properties with short leases where the cost to extend the lease is known at the time of purchase as well as the value of the property once the lease has been extended being known.
  

Cons

• You must consider the cost to extend a short lease, this can be very expensive, often more than the original purchase price of a short lease property and the cost to extend the lease is often unknown at the time of purchase.

• The cost to extend a short lease varies widely between properties and is normally determined by having two surveys instructed by both the owner and freeholder and then further discussion to arrive at an agreed price.

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