Location, Location, Location 15/10/09

lostinrates

silvercar wrote: »

So the big question, if you win £1.8m on the lottery, how much would you spend on a house?

weirdly, last night I found something perfect on th net for £1.8 million, so we wouldn't ned that mortgage after all. I wish we could borrow enough to buy that now and never move

ailuro2

I'd keep the house we had, buy the one through the wall from us too.Pay the neighbours over the odds to move, hehe. We're already in a great location and I have no wish to pay a cleaner to keep a sprawling pile with 10 bathrooms sparkling clean.:rolleyes: I'd have someone come in and do the ironing though.

However I'd buy a house overseas, maybe Florida so I can speak the same language as the natives (I know it's lazy!) and then live there through the winter. Swimming pool and a gym in it would be compulsory of course.

I'd give up work and so would DH, but would need something to occupy me while DD was at school, so probably volunteer at an a nimal shelter to give something back.

Afriend_2

£1.8 million? I would probably spend £300k upgrading to a nicer home. The same buying a place for my little brother.
I would give the rest to various worthwhile charities. There are many who both need and would enjoy the money more than I.

SingleSue

Oh I didn't realise we could put what we would do with the rest......

After my 500k house and a better car (max of 8k, don't want a brand new one), I would give my brother, sister and parents £50k each minimum, put a similar amount in trust for my boys, book a holiday to Disneyland Paris for New Year and then invest the rest in high interest savings.

I would also give great delight in sending that letter to the benefits agency letting them know I no longer needed their support.

carolt

Afriend wrote: »

£1.8 million? I would probably spend £300k upgrading to a nicer home. The same buying a place for my little brother.
I would give the rest to various worthwhile charities. There are many who both need and would enjoy the money more than I.

With you there.

I'd also buy a nice house here, and probably one in Spain near my in-laws.

I'd give a large wodge to charity, though - there's loads of charities I'd love to benefit.

silvercar

So far I'd spend far more on the house than anyone thats posted on this thread.

In my defence, where I live, you probably would get less house for that money than what most of you are buying on a lesser budget.

getmore4less

Initial thoughts

Invest, leave a bit for inflation, live off the income

Eventualy hand it over to the junior members of the family still intact
probably get them involved in the investments early to reduce work load and give a sense of ownership and want to leep it rather than spend it.

Thats how it was done in the old days and rich familiys got richer.
Then lot of them got poorer because a lot of the wealth was in the property they lived in.

Bigger house == more expensive to run.

Probably looking at around 3% min clear after tax etc.

£1.8m @ 3% = £54kpy or about £1k a week.

More enough to do what we want to do now, plenty of travel some even club class flights. not sure I would want to spend too much more on property to live in if we were going to be away a lot

Have considered becoming a perpetual tourist.
http://en.wikipedia.org/wiki/Perpetual_traveler


With £1kpw it is probably just possible to live on a cruise ship as an option.

vivatifosi

silvercar wrote: »

So far I'd spend far more on the house than anyone thats posted on this thread.

In my defence, where I live, you probably would get less house for that money than what most of you are buying on a lesser budget.

I don't know that I'm that far from you silvercar. My reason for not wanting to spend more is that there are only two of us. There's a fine line between a home and a mansion in which we'd rattle around like peas. It's different to wanting a big family home. Detached rather than semi I'd like, a bigger garden, but other than that I'm not unhappy with what I've got already or where it is. Easily pleased. However if I had a young family I'd be thinking about all kinds of other variables - schools, space for the kids to play, a bedroom for everyone plus one for guests... That would be pretty expensive.

silvercar

My list is much the same, detached 4 or 5 bed, 2 or 3 bathrooms, big garden.

Add to that I want the contemporary look - and a cleaner & gardener to keep it all good.

TBH I've got most of the basic list already, but I'd want bigger rooms and detached to mean in its own grounds rather than just not joined on the neighbours. I also want to be mortgage free and enough left over to pay for the upkeep.:)

viktory

longtimelurker wrote: »

Did you see what the lottery winner lady did to her lips?!!?

Yes, that and the botox in her face, plus what they did to that house clearly demonstrates the old adage "Money can't buy good taste". :rolleyes:

I'd spend about half a million on a house, but would ideally like to start from scratch and build it myself. I would also buy a house for my son and one for my daughter. Plus a Range Rover.