I will be so grateful for any advice from MNers with experience or opinions on this.
I'm separating from stbxh and we have nearly sold our house (London). Splitting the proceeds 50/50.
I am going to rent near ds's school for the next 2 years as this will make his life much easier at this difficult time.
I plan to buy a flat for myself, and for 3 dcs to come home to in holidays(2 at university). This will be in London but not in the area I'm renting in. But what I can't get my head round is whether to buy now and rent out - will it be worth the hassle of getting furniture, sorting tenancy agreements, insurance etc for 2 years?) or saving / investing my £350,000 ish for 2 years?
If I buy now and rent out this would contribute towards my rent, which is super high (most of my salary). But would there be enough of a return over 2 years to make this worth while?
If I save it, can I get high enough interest to at least contribute to my rent?
I am not a natural risk taker and this last couple of years has been really hard in many ways so I don't want to give myself a lot of hassle.
I do plan to go to an IFA but would really appreciate suggestions and views - what do you think?
Please or to access all these features
Please
or
to access all these features
Discuss investments with other users on our Investment forum. For more advice read our tips for saving for your child's future.
Investments
Save proceeds of house sale for 2 years or buy new flat now?
14 replies
metoo22 · 21/04/2015 09:52
OP posts:
Please create an account
To comment on this thread you need to create a Mumsnet account.