We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lump sum... buy property or invest
Options

lotto
Posts: 102 Forumite


I can take a tax free lump sum of approximately £80000 and want to know if it would be better to invest in a holiday apartment that the whole extended family could use or re invest it?
0
Comments
-
Depends on about 100 things including your definition of "better"0
-
Better is probably the wrong word! I suppose, I'm thinking along two paths...1. use the tax free money as an investment, enjoying family holidays, or 2. make sure I have money to live on in later life, including the cost of care.0
-
You are asking us about which solution to use but we do not know what the need area is that you are looking to meet.. use the tax free money as an investment, enjoying family holidays,
But taxable, illiquid and no guarantee of growth or income.2. make sure I have money to live on in later life, including the cost of care.
Which is a different objective to number 1.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Better is probably the wrong word! I suppose, I'm thinking along two paths...1. use the tax free money as an investment, enjoying family holidays, or 2. make sure I have money to live on in later life, including the cost of care.
Why not invest it and use some of the income for family holidays?0 -
Broadly it tends to be the case that property purchased for this reason tends to be under-used and that there are lots of really bad deals for things like fractional ownership around that you could get suckered into. Owning also ties you to one place unless you use those scam-ridden plans.
Alternatively you could invest the money and use the investment income to fund renting places wherever you wish.0 -
If in the uk don't forget extra 3% stamp duty, not to mention, rates, insurance, electricty, water, gas maybe, and all utilities now have a daily charge even if no water, gas or electricity is used.
I would guess at at least £300/month to keep a holiday or second home, or say £3,600/year.
Cheers fj0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards