Where to buy

Bart1

so,


I’m 50 years old.


My job, which I love ties me to London. When I retire which won’t be for at least 10 years, probably longer it will be to Lowestoft.


From my inheritance I have approximately £80,000, There is almost nothing I can get close to work for that, two bed flat in a tower block is the only thing I have seen, not somewhere I want to live in any case I have a major aversion to getting anything leasehold. In Lowestoft however 80G buys a nice 3 bed terrace.


I have bad credit, getting a mortgage is not an option.


The end game is to have a home in Lowestoft for my retirement. my options as I see it are buy a shithole round here, live in it till retirement, then sell and buy a house in Lowestoft.


or


Buy now in Lowestoft, and let for now. think around £450 a month is the going rate for the kind of place I would get, not sure what expenses would be, though I would self manage (I have contacts in Lowestoft if I needed a plumber or whatever.)


Currently paying £560 a month for a room in a HMO, it’s a nice room with en Suite, I’m comfortable enough living here for now.


Decisions, decisions............


All insights welcome.

Cautious_Optimist

You already have the 80k in the bank?

Cautious_Optimist

Bart1 wrote: »

so,


My job, which I love ties me to London.

That's unfortunate....!

Personally, I would consider putting your 80k into a pension and emigrating to rent somewhere nice abroad...

Bart1

I've traveled some, lived in Florada for 3 years early 90's now there is nowhere I'd rather live than England.