Question Details

Conflicted, Home Buyer in Boston, MA

leasehold vs. fee simple ownership

Asked by Conflicted, Boston, MA Mon May 5, 2008

There is a "leasehold" loft within the Boston metro area that I'm interested in purchasing. The leasehold would have around 95 years remaining. Financially, buying this property would make sense but the whole concept of a leasehold is very concerning. Presently, the resell value of these leaseholds has held up with surrounding fee simple community. If i bought this property, i would consider using this lofts as a primary residence for several years then as a rental property which would pay for the mortgage. When does resell value start to become negatively affected by the remaining years on the leasehold? Are these leasehold agreements scams or financially sound? Any help would be greatly appreciated.

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