100k what would you do?
Discussion
okgo said:
I just looked and the cheapest place in my postcode is £150k (studio). As said I am not against relocation, but I fear that the whole country (Surrey) is going to be a bit out of this range.
You could buy an investment poperty anywhere though. You have the luxury of time; maybe look for a 2-bed terrace within walking distance of a commuter railway station, for example.
I would put 90K into a Swiss franc currency account which will earn around 0% interest but with £ sinking faster than a holed battleship and a fairly good bet that the Euro will follow suit in the near future (due to economic problems of the EuroPIGS = Portugal, Italy, Greece and Spain). Sit back and watch your investment grow.
Oh the other 10K - enjoy it!!!!
PS come back in 12 to 18 months and see if I am right
Oh the other 10K - enjoy it!!!!
PS come back in 12 to 18 months and see if I am right
Edited by arguti on Sunday 22 March 19:52
How's about an off the wall idea? Might not be your idea of fun, but hey. Go and buy a narrowboat for about £40-45K. That way you have a home, can move (within reason) to a lot of places in the country, and spend a lot of time chilling and enjoying the countryside AND still have £50K in the bank. It's what I'm thinking of doing and I'm only just 25, so it's not all just old grey heads.
Snake the Sniper said:
How's about an off the wall idea? Might not be your idea of fun, but hey. Go and buy a narrowboat for about £40-45K. That way you have a home, can move (within reason) to a lot of places in the country, and spend a lot of time chilling and enjoying the countryside AND still have £50K in the bank. It's what I'm thinking of doing and I'm only just 25, so it's not all just old grey heads.
Girl at work is doing this. But having a depreciating asset like that doesn't interest me so much. At least with a house, you know at some point its value should increase. And you can rent it at the drop of a hat. And it won't sink 
okgo said:
Snake the Sniper said:
How's about an off the wall idea? Might not be your idea of fun, but hey. Go and buy a narrowboat for about £40-45K. That way you have a home, can move (within reason) to a lot of places in the country, and spend a lot of time chilling and enjoying the countryside AND still have £50K in the bank. It's what I'm thinking of doing and I'm only just 25, so it's not all just old grey heads.
Girl at work is doing this. But having a depreciating asset like that doesn't interest me so much. At least with a house, you know at some point its value should increase. And you can rent it at the drop of a hat. And it won't sink 
And although it will depreciate, it does have portholes for windows! patmahe said:
If it was me I'd clear my existing debts and pay a massive chunk off my mortgage, I'd also allocate a few quid as a 'fun fund' and set up a standing order for my current repayments into some sort of saving fund.
But to be mortgage free in a home you can genuinely call your own is a wonderful thing and well worth doing.
Completely agree.But to be mortgage free in a home you can genuinely call your own is a wonderful thing and well worth doing.
okgo said:
TIS said:
oi Rob!
There are loads of good houses/flats round Aldershot/Fleet area! So it's quite close to surrey, maybe 15mins from the Surrey boarder.
I'd rather be skint and drive a Maserati than live in Aldershot There are loads of good houses/flats round Aldershot/Fleet area! So it's quite close to surrey, maybe 15mins from the Surrey boarder.
deevlash said:
buying a house now has got to be the best time in the last 15 years if you dont need a mortgage! Are you a student? You could get a student mortgage (possibly) or buy a place and rent out part of it to pay off the other £50k
Not a student, no, employed full time at the minute.TIS, yes I know you have to start somewhere, I just don't think I could stomach Aldershot these days..
If youre working Id imagine getting a mortgage with a £100k deposit wouldnt actually be that difficult, even these days. Send scotal a PM he's some kind of mortgage chappy and seems to know his stuff. Its very satisfying knowing youre not just paying off your landlords mortgage afterall
Do £2-£3K on b
ks, big weekend, whatever.
Play the equity markets with £7K, you could do the lot, you could make a LOT of cash with things as they are.
Bank £90K
No point buying property yet, buy on the upswing, with a lump behind you and no chain you'll be a lot better placed than most buyers when the time comes. You may pay a little more than the very bottom of the market but the chance of getting burned is lower.
ks, big weekend, whatever.Play the equity markets with £7K, you could do the lot, you could make a LOT of cash with things as they are.
Bank £90K
No point buying property yet, buy on the upswing, with a lump behind you and no chain you'll be a lot better placed than most buyers when the time comes. You may pay a little more than the very bottom of the market but the chance of getting burned is lower.
okgo said:
I just looked and the cheapest place in my postcode is £150k (studio). As said I am not against relocation, but I fear that the whole country (Surrey) is going to be a bit out of this range.
you could buy birmingham for that amount!!!Though why you would want to is beyond me
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