Buy another property to let or upgrade?

6 replies

DSMEZ · 25/04/2007 22:34

My dh got an inheritance of 200K and we are wondering what to do with the money. We have a perfectly good house now, not in the greatest of areas, but enough space for our 2 dcs. We don't know whether to upgrade into a better area--and hopefully better schools, or just invest the money into a buy to let. Any suggestions?

OP posts:

expatinscotland · 25/04/2007 22:34

Upgrade

Original poster

DSMEZ · 25/04/2007 22:37

That's my thought--what's your reasoning. Need some persuasive argument.

OP posts:

expatinscotland · 25/04/2007 22:38

Sorry, I'm not good at arguing.

MrsMuddle · 25/04/2007 22:44

Could you do both? Upgrade, then buy a small flat to let out as an investment? We're mortgaged to the hilt, but live in a lovely house. (Well, I like it!) However, I am very conscious that when we retire, we'll have to downsize, as we have sacrificed having a decent pension to have this house. If I had any spare money, I'd buy another property to rent out, then sell for a lump sum when I retire.

Original poster

DSMEZ · 25/04/2007 22:46

Hmmm...that's a good idea.

OP posts:

Earlybird · 25/04/2007 23:01

Could you upgrade, and have a minimal mortgage? Or even live mortgage free? Are you good at saving, or would spare cash disappear?

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