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, sort out pension, fix conservatory roof. I might buy some jewellery to be frivolous.

Sell current home and buy bigger home with the inheritance plus equity (live in an area of ££££ house prices). Use money that we had been spending on mortgage to increase pension contributions and savings.

I'd buy a bigger house (just one more bedroom and a bit of land), do a Masters and take the kids on a trip to Japan.

Get my roots done

We inherited 130k 10 years ago . We put down 75k on our first home and started our business . We now have two houses , one we rent out and a business that turns over 400k a year . I would not do anything different with 450k. Our business has given us a lifestyle I never imagined , it's been hard work but so worth it. I also know that we will be able to hand it over to our children when they get older, as long as they work hard.

What is your business?!

Sorry for your loss

I would sell my house and buy a bigger one in a better location. I want to do that anyway but we'd need a huge mortgage to get everything on our wish list - but with £450k extra we might not even need a mortgage.

I'd also replace our car, which I've been wanting to do but hesitating about justifying the expense.

Go on a luxury holiday.

And spend some of the money on something that reminds me of the person - if it was an inheritance or gift from a person, that is. Maybe a beautiful piece of artwork or furniture or sculpture for the house or garden. Something I would see/use every day.

Ooh masters
Can I steal ideas

We are over 60 and still have a 6 fig. mortgage so paying that off is a no brainer. We are currently selling our 10 year old caravan and buying a modest motorhome. With that sort of money we could buy a better motorhome, not a rally expensive one just 20-30k. Keep some money aside for DC's house deposits etc. Up grade our two cars and travel, travel, travel!!

100k to pay off our mortgage, 200k to add to that to buy a bigger house. Leaves 150k - save some for each child, save some for us for a rainy day, give some to charity. Then I'd allocate a couple of grand each to buy whatever we wanted. I'd spend mine on lovely clothes for the children - Alba, Mini Rodini, all the brands I can't afford but love.

Buy a house, currently a distant dream. Then buy a nice reliable car.

50k to each of my three kids for house deposits, trip of a lifetime that DH and I have only dreamed of.. taking an RV across US. Do the kitchen extension I've only ever planned in my head and put in a downstairs loo. I might build a garden office and a parking turntable for the front of the house.

Pay off mortgage
Tarmac the parking area (not a dive but its big enough to park 12 cars) so its easier to clean and maintain. I have slate waste and it gets everywhere.
Pay off debt.
Holiday
Then sit on the rest as DD’s are hoping to go to university.

Have you got this money OP? If so, I’d give it all to my good friend GoFiguire.

We probably wouldn't pay off mortgage as it's such a cheap loan.

Maybe buy a property for DC for Uni - although not sure how as they're 15 & 12 and likely to go in opposite directions! So it'd need to be 2 properties which probably couldn't be done with that wodge.

I love my current house and am relatively close to paying the mortgage off; but I'd probably pick a new house with a few extras and have that mortgage free instead.

I am a very cautious investor tye, so I would totally maximise every last penny. I can't see myself pissing it up the wall on rubbish stuff.

I’d resign immediately without question. Paying off the mortgage and any other debts would still leave enough whilst I studied or retrained in a career that wasn’t going to kill me with stress and depression. I’d take at least six months off to recover, develop an exercise habit and finish writing my novel. We would take my parents and MIL on a really nice holiday (separate ones probably!) to say thanks for all their support to us and take the children somewhere like Disney or Lapland at Christmas. But the biggest investment we could make would be in my mental health, so priority would be for me to get out of teaching and repair some of the damage it has done to me!

I would buy a nice house in the middle of a massive piece of land, I would then like to live like Tom and Barbara Goode, my dream!

I’d pay off our rented house and sell it. Pay off the mortgage for the house we live in and start building a double storey extension for an extra bedroom and utility room/downstairs toilet.
I’d do all sorts of home improvements. I’d upgrade both of our cars and then invest the rest.
Oh I’d probably take my immediate family away somewhere nice too.

Buy a flat for Dc for the rental income to contribute to Uni costs.
Buy a flat to contribute to my paltry pension prospects.

Pay off debt, buy a house (realistically a two bed flat where I live) and probably get married to DP.
Could then build up some savings and have a few years of fun before we want to have children and move somewhere bigger with a mortgage.

Buy a house.

Out some away for ds future.

Have holiday of a lifetime.

Save rest for other opportunities in the future.

Mortgage, finish what we want to do to house, holiday, pensions.

I want to be able to retire at 55-60 but have no hope at the moment!

Pay off the mortgage most definitely

Pay off the mortgage; put £20,000 aside for holidays; some in trust for DS; the rest in our pensions.