Putting cash into property extension

Pagoda_2016

Hi there
Brilliant,thought provoking responses.Thank you.
Where we live has apparently had faster growth than anywhere in the country,with average house worth more than 50k than it was 12 months ago.
That said current house prices for comparison don't convince me that this would be a particularly good investment..at the end of the day ours will still be a semi detached house..
I guess one option might be to reduce the size of my investment into this and look at other products and talk to a few estate agents
Thanks again

atush

I would consult a few estate agents and ask how much value the extension will provide.

And yes you do need to diversify.

You need at least 3 months outgoings in cash, property (start with the one you live in) and then pensions and S&S isas. These 4 things combined will make for a better financial future. You dont want all cash as you are currently, or all in any one thing.

Mojisola

Pagoda_2016 wrote: »

That said current house prices for comparison don't convince me that this would be a particularly good investment..at the end of the day ours will still be a semi detached house..

There are houses round us which have been extended beyond the area's top price. The sellers think their houses are worth £X because of the money they've spent while buyers think - if I'm going to spend £X, I might as well buy in a better area.

Pincher

There are subtle differences between

1 Tenants in common

2. Joint Tenancy.

Married couples tend to go for 2.

With 1, if you get 10% share, and he dies, and leave the other 90% to say three children, at 30% each, that is a recipe for chaos.