Avoid Root Canal Treatment – Extend Your Lease
I went to the dentist last week with a slight pain in one of the bigger teeth in the back of my mouth. I have since learned it is my upper right second molar, I think. I sat comfortably into my dentists chair readying myself for torture when I made the inane observation that it had been two years since I had seen him last, he corrected me, it had been four years…..
It transpired that the slight pain became a huge pain and I am booked in for the first of five Root Canal treatments next week – yippee ! A curious thing is that the initial slight pain in my tooth, turned into severe pain, travelled up to my jaw ending with excruciating pain in my wallet – which takes me to lease extension.
A lot of you will know that if you own a flat you can extend the lease by 90 years. A lot of you will already have decided that you will extend your lease at some point. But I know from my experience with hundreds of clients that you are putting this exercise off. You’re putting it off like a trip to the dentist. Let me warn you (not scare you) that if you leave it too long – you might be putting yourself through a lot more unnecessary financial pain than five root canal procedures.
A broad rule of thumb is that if your lease has less than 100 years remaining, you should think of extending the term by 90 years. The shorter the lease the more expensive the cost to extend the lease will be. A fact is that if you wait until your lease has less than 80 years to run, the cost will be prohibitively more expensive with the addition of ‘marriage value’ to the calculation. You do not want to wait until you are selling a flat to realise you need to extend the lease. You want the extension sorted out before you go to market.
So our advice is this. Do not delay checking your lease and do not delay picking up the phone for a routine, no fee check-up with Olden Property Consulting. The sooner you call, the greater chance of avoiding root canal treatment.
tom@oldenpropertyconsulting.com