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Original poster

What to do with around £100k

32 replies

MadamePeacock · 05/10/2016 18:29

My mum passed away 12 months ago and in her will she stated she wanted her house selling and then the money splitting equally between her 4 children.

The house sold in August and we've got around £100k each which is a hell of a lot of money.

My husband and I have talked about what to do with the money:

-Use it to buy a bigger more suitable house (we need a bungalow as our daughter is in a wheelchair) and put anything left over into accounts for the children.

-Use it to send our children to private schools

-Use some of it to adapt our current house for our daughter and put the rest into accounts for the children.

Which of these three would you do?

OP posts:
Original poster
MadamePeacock · 05/10/2016 18:29

Sorry though I'd put this in chat.

OP posts:
Elllicam · 05/10/2016 18:30

I would go for the bigger house

FlibbertigibbetArmadillo · 05/10/2016 18:31

Bigger house

LeatherAndLace · 05/10/2016 18:32

Bigger house.
Unless you like your house?

Private school seems like a bit of a waste.

Gazelda · 05/10/2016 18:33

I'd use it to make sure your daughter has suitable accommodation secured for the future. Whether that be move or adapt your current home.
If possible, I'd also put some money aside for your other DC to give them a leg up when you feel they could use it best.

RJnomore1 · 05/10/2016 18:33

Bigger house and a holiday.

DoYouRememberJustinBobby · 05/10/2016 18:33

I'd go for the bigger house, suitable for your daughter and then use the rest to pay down your mortgage.

VinoEsmeralda · 05/10/2016 18:35

What does your DD prefer? New house or adapt current house?

100K wouldnt get you far with private schools.

LineyReborn · 05/10/2016 18:35

How big is your family? How many rooms do you currently have?

Sorry about your mum.

WhereYouLeftIt · 05/10/2016 18:35

Bigger more suitable house.

nilbyname · 05/10/2016 18:37

I would get a really good house with the right modifications for my dd. There was a DIY sos big build on the to last week and the teen age son was in a wheelchair they had all sorts of incredibly thoughtful modifications done to the house. Worth a watch.

Things like a wet room instead of a r hilarious bathroom. Kitchen counters that were lowered and could slide in/out. Door ways thAt were widenened and had sliding pocket doors rather than regular open close doors.

Sorry to hear about your loss, but you can spend wisely and have a fantastic adapted home.

Original poster
MadamePeacock · 05/10/2016 18:38

My daughter is 6 so is too young to make a decision.

OP posts:
Biscuitsneeded · 05/10/2016 18:39

Don't do private school. You could secure your children's future in a far more meaningful way with a bigger house and still have something to show for it at the end.

AnyTheWiser · 05/10/2016 18:41

Is your DD likely to need to live with you the rest of your lives? Choose somewhere you want to live, and then adapt for her.
Sorry about your mum though.Flowers

atticusclaw2 · 05/10/2016 18:41

I'm afraid I agree that £100k is not enough to see your children through private school.

You're looking at circa £15k a year for a fairly reasonably priced school plus extra for uniforms, trips, extra curricular stuff like music etc.

LastBusHome · 05/10/2016 18:42

Bigger house unless you really love your current house because I think the conversions required could possibly be a lot of hassle with not as good results as just upgrading to a nice big bungalow.

eightbluebirds · 05/10/2016 18:43

I wouldn't go down the school route. 100k won't go far. It would be better invested in your living space. I'd look at other houses/bungalows and possibly get an estimate on what work you could do to your current house to see what might work out better.

ImperialBlether · 05/10/2016 18:43

Bigger house in an area with good schools.

BeverleyBrook · 05/10/2016 18:47

Bigger house in area with a good school, definitely. Or if you love where you live now, then buy a BTL house as a shared investment for the kids, to be sold to give them each some money for a deposit for their own house in 15 years time?

e1y1 · 05/10/2016 18:49

Bigger house. Agree with PP - 100k won't see DC the whole way through private school.

yeOldeTrout · 05/10/2016 18:52

Are the state schools available to you quite rubbish?

I would think...Pay down your mortgage.
If you dont' have a mortgage, then consider house improvements.
If they don't appeal, then consider diversifying into other investments (having your wealth in something besides property).

LineyReborn · 05/10/2016 18:54

I suppose it partly depends on how many children you have, or plan to have.

PurpleDaisies · 05/10/2016 18:55

Another vote for bigger house/move to catchment of a really good school.

DakotaFanny · 05/10/2016 19:00

More suitable house, holiday, part time just me?

Liiinoo · 05/10/2016 19:01

100K won't go far on school fees.

A bigger/nicer house will benefit the whole family and is an investment for everyone's future.

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