to buy or not to buy

hilla_2

My husband and I live in tied accommodation with my husband's job. We owned a house until recently in Scotland and have just sold it. The grand sum of £167000 is now sitting in my on line savings account. Any advice on what we should do with this money.

1. put it in a high interets account
2. another form of saving
3. buy a couple of buy to let properties
any other suggestions?
We have 7 years before my husband retires and we will have to move out of our tied accommodation

DawnW

I can't answer your question, but am in a very similar situation. Don't know what to do! Maybe there will be some good advice in a bit?

mr.broderick

Buy gold with it.

Mad_Max_3

Big price drop is now finally looming!

Increasing interest rates, higher prices for fuel and food, rocky enonomy.

25%+ price drop is just around the corner!

https://www.energyassessor.org

ixwood

At the minute, I'd say an high interest account. Defnietly not houses. normally the stock market would be the place to go, but that's looking pretty overheated/bubbleish too at the mo.

Using your isa allowance on some carefully picked investments wouldn;t expose you to too much risk as it'll only a small % of your cash.

ixwood

Basically the worlds been awash with cheap cash for years, so pretty much every asset class has been bidded up and is looking a bit suspect IMO.

Have you thought about starting or buying a business? Might be some bargains about soon. Done well, good Income producing assets are they way to riches/retirement.

Rover

In the same position.
Don't buy yet ! Wait and assess.

Your capital should be put in a high interest, instant access accounts. Split into portions of say £40k and deposit in accounts with ICICI and Icelandic. Both of whom are currently giving well above base (~6.3%).

Wait until the 'market knows' what it's doing !

noyk

Ask on the Savings and Investments forum - http://forums.moneysavingexpert.com/forumdisplay.html?f=17

hilla_2

Thanks for all your advise. It's funny not being a home owner at 50 when I have owned a house from the age of 21. Must get organised to get it into a high interest account for the time being. I think perhaps we will hold off on property for a while on the other hand there is a great shortage and we all know what happens when something is in short supply. Oh I wish I could see the future in this respect anyway.

ixwood

A great shortage of what? Cheap property. Not property generally.

Speculative purchasing is what's caused the current bubble, not normal supply and demand.

PasturesNew

[1] Definitely, you understand what you have and where it is and can get at it
[2] Too complex, needs to be for the long term and if you don't know what you are doing it could go tits up
[3] Stay WELL away. Hundreds/thousands of people who tried this are now finding they've LOST money on these. The tenants aren't there.

There's no rush to decide. Sit back and decide at leisure over the next year or so.