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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

What to buy with £100k?

109 replies

Tristani · 16/06/2024 07:17

Our family consists of DH, dcs and I.

DH & I have put 50/50 for deposit. We earn roughly the same salary which goes into joint account and pay the mortgage from there. House worth ~£600k with £250k outstanding. We overpay. No other loan.

My dad is wealthy, most tied up in assets. He is very generous with me and the children. Dcs have investments and savings which they can access at 18. Until then, they have access to the best education and hobbies.

My dad wants to gift me £100k. He has expressed that he does not want me to put it in the mortgage. He wants it to specifically benefit the dcs.

I am not sure how to honour his wish. What could I do with £100k?

OP posts:
NoSquirrels · 17/06/2024 08:20

Tristani · 16/06/2024 08:58

This is a GREAT idea!!! Dcs are very outdoorsy and they would definitely benefit from this too. And in theory we could all enjoy it and it keeps its value too. Do you where we could find this? We are in the south west.

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Please do your research into maintenance of woodland - it’s a lot of work! Great if you and your partner as the adults are prepared for hard graft. Not so much if you aren’t, so just do your research into it.

Wordsmithery · 17/06/2024 08:40

Tristani · 16/06/2024 08:58

This is a GREAT idea!!! Dcs are very outdoorsy and they would definitely benefit from this too. And in theory we could all enjoy it and it keeps its value too. Do you where we could find this? We are in the south west.

Show quote history

Rightmove, property type = land. I'm sure there are other platforms too if you google.

Frogmarch89 · 17/06/2024 08:43

Ponoka7 · 16/06/2024 07:48

Re house investment in cheap areas. It puts up the prices and makes housing unaffordable for the locals. It's happing across my city and it's another factor that is making housing impossible to find. If you are going to do it at least reign in your greed and make the rent affordable. Re buying a holiday home, try to find one that has already been taken out of residential use. Housing shouldn't be people's play things. How housing is used has massive consequences.

Absolutely!

Ihatelaundry · 17/06/2024 08:59

NoSquirrels · 16/06/2024 08:28

Then save it in your names in the stock market but earmark it for each child. Transfer it to a LISA when they’re 18.

Show quote history

This would be my suggestion as it is what we do for our own children.

EnglishBluebell · 17/06/2024 09:05

Oh you poor thing, what a difficult decision 🙄🙄🙄🤦‍♀️

Stinkerantibiotic · 17/06/2024 09:40

Icanwalkintheroom · 16/06/2024 13:10

Honestly as someone with inherited/gifted land & holiday homes, it’s a right pain. That doesn’t mean we’re not grateful for it but - you feel like you can’t go to other places for holiday or you’re not getting the value of the holiday homes, there’s a level of maintenance that’s ongoing & just a hassle & there are a number of associated costs that you just can’t avoid. The land needs a level of maintenance that again is quite onerous & another chore, again if you aren’t using it you feel guilty and there are associated costs.

We’re in the process of getting rid of a lot of it now as it’s just not compatible with our lifestyle. You also have the associated emotional connection that makes it all a lot more complicated.

Invest in the stock market. Premium bonds also a good shout if dc don’t already have them. Have the cash there for them in future without adding to their responsibility load. A much better gift.

This definitely - land is a huge responsibility and there are laws on what you can and can't do on it so you need to do a lot of research and planning. As this poster says it adds a huge amount of responsibility and ties you to an area to maintain it. It's also something potentially going to increase in tax and councils may be able to compulsory purchase it regardless of whether you want to sell under Labour.

I'd invest it in memorable trips around the world and a club/hobby for each DC.

iamtheblcksheep · 17/06/2024 10:47

EnglishBluebell · 17/06/2024 09:05

Oh you poor thing, what a difficult decision 🙄🙄🙄🤦‍♀️

Do grow up. This isn’t animal farm. Different people have different problems. It’s not a race to the bottom of the cesspit.

GrouachMacbeth · 17/06/2024 10:52

Rental properties as said but with local management and in a decent university town so the dcs can if they wish live in them if the go that university.

Stinkerantibiotic · 17/06/2024 12:01

GrouachMacbeth · 17/06/2024 10:52

Rental properties as said but with local management and in a decent university town so the dcs can if they wish live in them if the go that university.

I still think any property or land investment just before a Labour govt is not wise. They have pledged to crack down on 2nd homes.

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