What would you do if you inherited 450K?

[MissSmithToYou]

Just that really. Buy a new house? Spend it? Save it?

I'd pay off my mortgage and buy a larger house with the equity from my existing home and some of the 450K. I'd then invest the rest using a wealth management company I think

You?

Pay off mortgage - £50k
Buy new house outright £180k
Holidays and weekends away for a few years (we don’t take flights) £8k
Saving £100k
The rest in trust for my son.

We have this in savings. Half will be our deposit on a house, the rest used for raising our future family and eventually retirement.

Pay off mortgage and buy a bigger house mortgage free

Pay off mortgage, extend into loft and fix roof. Wouldn't move to somewhere bigger as we've got enough space (certainly after extending) and I don't want to make that mistake of just making my life more expensive.

As it is, I am now due a 6-figure sum (though not that much) from my grandfather's estate - I think we're going to spend most of it on extending the loft and mending the roof, then invest the rest - there is a separate amount that will be put in trust for out kids. Although it's possible the rest after loft costs will be enough to cover about half the outstanding mortgage, so if it would be possible to pay it and then halve our monthly repayments (I don't know if it works that way), then that would be worthwhile.

I would buy our dream farm house in the country, have lots of boxer dogs and a few more horses.

Rent out our house ( I just couldn't bring myself to sell it with all the great memories here ) put all what would be mortgage payments and rent obtained from our home somewhere for our son after uni,

Pay off our mortgage £140k. Save for school and University fees for DS £200k
£50k into pensions
Rest nice holiday and into easy access savings for future life help/ holidays etc.

£100k each set aside for kids house deposit, £40k to pay off our mortgage. Probably spend £20k on house stuff, windows boiler etc. Leaves £190k which we’d probably invest to help with uni costs (only 1dc for uni) and general savings to dip into occasionally but try to keep the nest egg for when it could be needed.

Obvs re the theoretical £450k, after mortgage and loft I guess I might invest in property. Having been an 'accidental' landlord and working in a property organisation I know a bit about it. Even with the tax squeeze on LLs, if you don't have a big mortgage on a BTL property, you can do OK.

Pay off our mortgage £140k. Save for school and University fees for DS £200k
£50k into pensions
Rest nice holiday and into easy access savings for future life help/ holidays etc.

It wouldn’t be enough to buy my dream property locally which is around £750K, so I would pay off my mortgage and buy another property to let out.

It’s not enough to be a massively life changing sum but being mortgage free would obviously have a big impact on day to day living.

I have had a couple of small inheritances, which have been spent on something lasting that I feel the person would have appreciated (e.g. art from artist GP).

So, I'd put aside £5-10k on something along those lines. Then pay off the mortgage and enjoy a particularly nice holiday that year.

Pay off mortgage, and put my kids through private education.

Buy a house in the Lakes.

I'd buy a nicer house for me to live in and rent out my current house.

Buy a holiday home in tenerife and rent out some weeks and go there ideally few times a year

Buy a small place in uk and rent

Ideally put maximum amount into premium bonds and hope bonds come in

Difficult. Although my house only has 2 bedrooms and it's mortgage free I love living in it. My neighbours are lovely. There are shops in walking distance. City centre 2 1/2 miles away. Family closeby.

I would buy a modest brand new car, new kitchen and have the garden to my liking. Although I only work part time, I have very low outgoings and aged 51 I would either give up work or just work one day a week and live off the rest of the money.

No idea. I'd love to put it towards a house (we rent) but it wouldn't be enough for a large enough house were we live. Maybe add a small mortgage to it and buy then?

Pay off the mortgage (250k), buy myself a horse and ask my financial advisor what he'd recommend with the rest. Our mortgage is hefty so we would have a fair chunk more disposable cash each month too.

I'd buy a house and pay for decorators to do it up (I can't stand decorating but can't justify the cost of professionals ), I'd learn to drive and buy a cheapish car, I'd take DS on holiday and finally I'd pay to retrain as an accountant... whatever is left I'd put into savings for DS

Do some updating of my house, new kitchen, a new car, save the rest. It;s not a life changing amount of money.

Pay off our mortgages, upgrade our cars, renovate our home, put money away for our children and have a bloody good holiday x

I would pay off my DMs mortgage & pay for an extension for her & one for me.
A great family holiday with DSis & family, DD & DM.
I'd probably buy 2 rental properties which will double as investment & pension, and future £ for DD.
The rest would go into my pension & savings which would assist me to set up my own business and stop my current employment.

Buy my kids houses with 300 if it, so they have small mortgages only.

Consider paying off DDs student loan. Not great planning really but a weight off her mind.

Move house ourself with 100.

Buy a six bedroom house (north east, quite cheap) then pour the remainder into a pension pot.

I guess a lot like others pay off ten mortgage and anything outstanding. I wouldn't move, I love my area even if it's jig the "best" area, it's best for me. I would extend though, we planned on doing a lot of work when we moved but funding it's been harder than expected. I would help my parents out a bit as my dad is still working at 65 as he can't afford to stop yet, and get my children some therapy (two with asd) plus take them aboard as they are desperate to fly and my husband and I have never been abroad together, so be nice to have a family holiday. A new car would be a good idea too as ours has hit 110,000 😂