Thoughts on buying a home

[RedFlagsAllOver]

Sorry if this message is all over the place.
I'm 40 years old, with 3 children. I currently live in Devon and have never been able to afford to buy a house, and never would here. My dad owns his house and has savings. He's almost at end of life. In hospital and its totally breaking my heart. I know you shouldn't make rash decisions when dealing with grief but I keep thinking about moving away from Devon. I'm fed up here, I've got no friends but my mum and the boys other grandparents live here. I could in theory afford a house further afield with the money my dad will be leaving. I was talking to my boys nan yesterday, not my mum about things. I didn't say anything about moving away. But she thinks I should stay in the house I'm living and sit on the money. Enjoying it but keeping a nest egg. I keep thinking about owning a house but I've been hearing more lately from people saying that owning a house isn't all it's cracked up to be. Obviously there's the situation of selling it if I need care when I get old. Sorry this is a rambling post.

I bought a house as I saw it as an investment, and something to leave my children.
It may or may not need to be sold for care, but at least I’ve tried.

It sounds like you have a lot on your plate emotionally so take your time. Your decision doesn't need to be made in a rush.

Is a shared ownership purchase or section 106 housing (that you buy and also sell under market value for locals only) things that you could look into?

I know I won't be able to do anything for a while anyway but I keep thinking I've put my life on hold for years living here. I'm not happy and not getting any younger. My kids are at an awkward point at school too atm.

It’s time like these that we tend to reevaluate our lives.
You’ve got no friends, but you have got your mum and other grandparents to help. Who would you have if you move away ?

Money goes up faster when invested in houses than it does in the bank inthe uk. I’m not saying this is right.
If you can buy a house. If you feel you can’t make the decision yet, keep your dad’s house. If you can move in to it, if it’s near to you let it as a holiday let to cover it’s costs for a season which will give you time to think and explore other areas

Im.so sorry you're going through this.

I would wait until things are settled. Start researching areas you might be interested in, schools, work etc. Everything. If there is one particular place you have in mind can you visit, Air BnB etc. Don't make any knee jerk decisions. I do understand your desire to own somewhere.

On the basis that most houses make more money than you can earn I would buy somewhere but as pp said, take your time to see where suits you.