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If You Won £180k Today Would You Buy A House?

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If you won £180k today would you buy a house? ( assuming you had no other savings)

Or a new build 2 bed flat, as that is what £180k would buy you round where i live.

If not what would you do with the cash? Savings account?, stock market?, gold :wub: ?

My bet would to invest the cash in the hope it would rise faster than HPI.

Which is the obvious answer if you think HPC is on the cards, but then again would a HPC screw any investments you made?

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If you won £180k today would you buy a house? ( assuming you had no other savings)

Or a new build 2 bed flat, as that is what £180k would buy you round where i live.

If not what would you do with the cash? Savings account?, stock market?, gold :wub: ?

My bet would to invest the cash in the hope it would rise faster than HPI.

Which is the obvious answer if you think HPC is on the cards, but then again would a HPC screw any investments you made?

As its a cash win and I could buy outright I would secure a home. With the intention of just seeing it as a home and not an investment.

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If you won £180k today would you buy a house? ( assuming you had no other savings)

Or a new build 2 bed flat, as that is what £180k would buy you round where i live.

If not what would you do with the cash? Savings account?, stock market?, gold :wub: ?

My bet would to invest the cash in the hope it would rise faster than HPI.

Which is the obvious answer if you think HPC is on the cards, but then again would a HPC screw any investments you made?

Putting £180K into a 6%AER bank account (e.g. NS and I tax free) would give you nearly £11K in interest.

This 11K would let you rent a very nice house for e.g.£9K per year and have the extra compounding every year.

On top of this, as you have effectively paid off your mortgage so-to-speak, your salary could be invested elsewhere, or added to the £180K to compound it further, bringing even more yield.

This would leave you free to choose where you wanted to live. You would have a ton of disposable income. You would have no maintenance issues. You could rent a place next to the good schools if that's what you wanted, or in a countryside area if you wanted that.

or use it to buy half a house.

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Guest DissipatedYouthIsValuable
Putting £180K into a 6%AER bank account (e.g. NS and I tax free) would give you nearly £11K in interest.

This 11K would let you rent a very nice house for e.g.£9K per year and have the extra compounding every year.

On top of this, as you have effectively paid off your mortgage so-to-speak, your salary could be invested elsewhere, or added to the £180K to compound it further, bringing even more yield.

This would leave you free to choose where you wanted to live. You would have a ton of disposable income. You would have no maintenance issues. You could rent a place next to the good schools if that's what you wanted, or in a countryside area if you wanted that.

or use it to buy half a house.

Haha, that's a sobering thought.

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If you won £180k today would you buy a house? ( assuming you had no other savings)

No, I don't think I could bring myself to do it. Why? Because I still instinctively feel that they over priced in todays economic climate? I think I'd bank the money and rent cheaply, whilst hoping that the cash still kept up with inflation. (NS&I tax free index linked bonds spring to mind)

Has ds_t come into a bit of money per chance? ;)

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Guest Skint Academic

The bullish argument seems to be that house prices are only ever going to rise and that you should buy now while you still can. They don't seem to comprehend that even if I had the money, in this case 180K, I still wouldn't waste it all on an overpriced flat in this country.

I've come to the conclusion that the best investment I can make is in myself. So I'd pay off debts from university and move to my parents house in Germany, become self sufficient whilst starting up an online business. 180K could keep my partner and I going for many years.

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cristal, cocanie and girls.

Ok no i wouldn't.... id put every penny into GVC.L

it would give me an income of 36K per annum. ( which I could retire on if i wanted )

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Well as I don't live in the UK :P I'd pay off the remainder of my mortgage, buy a new car, have a long holiday AND have a shopping spree and I'd still OWN a detatched house only 75 minute's drive from the capital! :lol:

I'd wait until farm repo's made buying a small farm possible and then I'd set about protecting the perimiter against urban desperados and getting all the extended family together and hope we could grow enough food to live on. Does that sound like worst case scenario? Well, that's where I'm looking.

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Well as I don't live in the UK :P I'd pay off the remainder of my mortgage, buy a new car, have a long holiday AND have a shopping spree and I'd still OWN a detatched house only 75 minute's drive from the capital! :lol:

Come on, which country?

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Of course I wouldn't buy a house!

As someone on here pointed out - 6% of 180K is £900 a month - you could easily rent somewhere for £900 a month.

Though if I was given that amount of money I would probably look into leaving the UK and trying to find somewhere where I could live a simpler exsistence away from the rat-race. I'm not sure if such places really exist however.

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Ok no i wouldn't.... id put every penny into GVC.L

it would give me an income of 36K per annum. ( which I could retire on if i wanted )

Haha, yeah I noticed that beast a few months ago with their absolutely mental yield. 20%? Would you really stick 180K in it though? ;)

And as 180K wouldn't buy a decent flat let alone house round here I'd probably ram the lot into high-yielding shares (not sure about mental ones like Gaming VC though!)

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Guest The_Oldie
Of course I wouldn't buy a house!

As someone on here pointed out - 6% of 180K is £900 a month - you could easily rent somewhere for £900 a month.

Though if I was given that amount of money I would probably look into leaving the UK and trying to find somewhere where I could live a simpler exsistence away from the rat-race. I'm not sure if such places really exist however.

You sure can, I'm renting a £400K house for £895 a month :D.

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Guest The_Oldie
WTF! Must be special circumstances? Is 3/4 of the house boarded up?

Nope, fully furnished three bed town house in a good area.

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Same as Twatmangle, invest in savings and pay rent from interest. Which is effectively what I'm doing with my STR stash. As I've said on posts on here many times, I wouldn't buy at the moment, even if I won £35m on the lottery.

I'd possibly buy in Germany but no way in the UK bubble.

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Even if it was £180 million i still prob wouldn't buy. overvaluation is overvaluation regardless of personal wealth.

a fool and his money... etc etc .

Having said that, i'm indeed a fool and i'd blow it all very quicky and very luxuriously, and possibly very illegally.

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