Im getting £250,000 Inheritance ,,, benefits will stop .. Best way to invest it ?

QrizB

moneytree999 said:

Auti said:

But OP said it is sheltered housing so if buy a house he will no have the extras sheltered housing supplies. That is also why rent is higher?

This is CHEAP Rent, its discounted ! Unless i move to Isle Of Sheppey, I wont find 'Rent' or a House Cheaper

I can quite understand you not wanting to move, and I also don't know what degree of support you receive in addition to housing, but eg. here's a nice retirement flat in Cornwall for £90k:

https://www.zoopla.co.uk/for-sale/details/69279673

I'm originally from that area

moneytree999

QrizB said:

moneytree999 said:

Auti said:

But OP said it is sheltered housing so if buy a house he will no have the extras sheltered housing supplies. That is also why rent is higher?

This is CHEAP Rent, its discounted ! Unless i move to Isle Of Sheppey, I wont find 'Rent' or a House Cheaper

I can quite understand you not wanting to move, and I also don't know what degree of support you receive in addition to housing, but eg. here's a nice retirement flat in Cornwall for £90k:

https://www.zoopla.co.uk/for-sale/details/69279673

I'm originally from that area

Interesting .... This could well suit me as an option ... Ill have to look into this further ...luckily i dont need much support, Im able bodied at moment !

IanManc

QrizB said:

moneytree999 said:

Auti said:

But OP said it is sheltered housing so if buy a house he will no have the extras sheltered housing supplies. That is also why rent is higher?

This is CHEAP Rent, its discounted ! Unless i move to Isle Of Sheppey, I wont find 'Rent' or a House Cheaper

I can quite understand you not wanting to move, and I also don't know what degree of support you receive in addition to housing, but eg. here's a nice retirement flat in Cornwall for £90k:

https://www.zoopla.co.uk/for-sale/details/69279673

I'm originally from that area

Downsides:

1. It's run by FirstPort. Read the reviews.
2. The service charge is £3332 a year and goes up every year. The ground rent is £425 a year and goes up by RPI every 15 years.
3. It's listed for £90000 but sold for £135000 eight years ago, so is a wasting asset.
4. The listing says that it's a "non-coal mining area" but leaves out that it's in the most exploited tin mining area in the world.
5. I love Cornwall, but this is in Camborne.     It's not the Cornwall you see in the holiday adverts. I wouldn't retire there.

QrizB

IanManc said:

5. I love Cornwall, but this is in Camborne.     It's not the Cornwall you see in the holiday adverts. I wouldn't retire there.

It's got a lot better since I left
Anyway, it was only an example. I'm not expecting the OP to pick that flat, just wanted to show examples of what's available if he's willing to move away from whichever bit of Greater London he's currently in.

kimwp

OP, I feel like this thread is going round in circles, perhaps because there's too many options. With this amount of money, I think it's worth you paying for a financial advisor, who can help you through the different options. 

On a tax note, with that amount of money, you'll need to be aware of tax on savings interest, and if you invest, then dividends allowance and capital gains tax will probably be applicable, so you need to learn about those. (A financial adviser would be able to explain those things too)