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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To think not to invest in property ?

26 replies

FishersGate · 04/02/2024 14:58

We have recently come into some inheritance not tons but circa 150k. We have 200k mortgage up for renewal in november currently on low interest rate. We need a new bathroom and some other bits on garden. Two DC. One secondary one primary.
DH hasn't really thought about what to do but initially invest a chunk in short term high interest savings for 6 months till mortgage renewal pay a chunk off. I suggested some for children rest for house and a holiday.

We are mid forties, i work in public sector with 18 years pension part time for 12 due children. But due to a chronic health condition currently unlikely to return full time. DH for same company for 25 years good pension.

My parents have property which they rent and have continually stated don't invest its aggro, tax, capital gains tax etc etc.

DH friend is now pressuring him stating its best thing for investment , buy small place with small mortgage rent out etc etc.

We are going to see a financial advisor but I am very against the idea. I feel lowering the mortgage and any extra can go toward investments ?

OP posts:
EduardoVillegas · 15/04/2024 20:43

It's smart to weigh your choices carefully, especially with a mortgage renewal coming up. As for property investment, it's a bit of a mixed bag. Sure, it can be a lucrative venture, but it's not without its headaches. Your parents' experience with rental properties sheds some light on the potential downsides: dealing with tenants, taxes, and all the paperwork jazz. And speaking of investing, have you ever looked into strategies beyond the traditional routes? There are some interesting opportunities out there, like, say, exploring Invest in property dubai. Maybe consider platforms that offer a range of strategies and tools tailored to your comfort level and goals.

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