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Isas or house purchase

yorkie799
yorkie799 Posts: 2 Newbie
in House buying, renting & selling
Hi Everyone
I have the opportunity to purchase a detached house for £100.000 which last sold for £163.000 in September 2007.
I have the funds to pay cash but they are all in tax free isas.
At 61 yrs old I own the house I live in and live on small private pension + interests.
SHOULD I BUY TO LET HOPING THE VALUE WILL INCREASE OR LEAVE THE MONEY SAFE ????

Regards Yorkie

Comments

  • Catatonia
    Catatonia Posts: 433 Forumite
    Do you want the hassle of buy to let? Just because the house looks like a bargain doesn't mean that it will make a good buy to let.

    I would probably keep your money in ISAs, to be honest.
  • Meatballs
    Meatballs Posts: 587 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Interest rates are terrible for savers, and inflation is high? Is your saved money devaluing more than it's earning interest?
  • Eric1
    Eric1 Posts: 490 Forumite
    If you buy it, move in yourself and sell the current house, perhaps it could generate income too.
This discussion has been closed.
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