itsonlymoney
Registered User
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- 10
hi,
im 31 and i want to pack in my job and go travelling with my girlfriend, next year - summer 2007. to fund planning on selling apartment, which i bought with my parnets 3 years ago. will make circa 200k approx. want advice on the following:
if i do sell and make say for argumnets sake the 200k, of which ill probably take 20 to travel, will be left with 180k, what would you suggest as the right option for that money, so when i come back in a year, its made the most possible and that ill have access to it, to set up my own business, which i really want to do, perhaps rent for a while but with the intention of being able to buy again be it soon or a couple of years down the line, so i might make even more on it??
as im very new to the idea of selling and investing any help on this would be hugely appreciative and i will respond to all replies. basically can anyone see any positives/neatives to this idea, any pitfalls and anyway i might actually incur some losses from my gain (tax etc.) also just any views on simply selling up like this or would it be better to try and save the travel money and keep my asset? very interested to get your esteemed views on this, thanks.
also, before any of this happens, if summer 2007 is my target, what would you recommend i do my current mortgage, up for review dec 2006, next year will be year 3 and i have to dedcide on a fixed term or variable ( currently at 3.69 1 year fixed) . im looking at freeing up 5/10k for personal use (dental operation etc.) and also want to look at giving back the 30k my parents gave me for deposit, which was always my plan so siblings get the chance i had etc.(eldest of 4)?
would it be a good idea to switch my lender to get a better rate and get the 40 oddk incorporated in the switch over even though it will only be for 6/7 months.
or would it be easier to stay with my current lender, just get the 5/10k top up now, readjust my rate to the most favourable available for say 1 year and then when i sell just hand over the money to my folks then, who when they hear im sellin up to travel will probably go bannanas anyways so by givin back their 30k thats me boxed off and a clean bill of health so they cant really say much anyways.
and ive done well so far so they'll eventually come round and well id love to make some money and start afresh, so i look forward to anyones ideas/suggestions/critiscism/praise?!
thanks
itsonlymoney.
im 31 and i want to pack in my job and go travelling with my girlfriend, next year - summer 2007. to fund planning on selling apartment, which i bought with my parnets 3 years ago. will make circa 200k approx. want advice on the following:
if i do sell and make say for argumnets sake the 200k, of which ill probably take 20 to travel, will be left with 180k, what would you suggest as the right option for that money, so when i come back in a year, its made the most possible and that ill have access to it, to set up my own business, which i really want to do, perhaps rent for a while but with the intention of being able to buy again be it soon or a couple of years down the line, so i might make even more on it??
as im very new to the idea of selling and investing any help on this would be hugely appreciative and i will respond to all replies. basically can anyone see any positives/neatives to this idea, any pitfalls and anyway i might actually incur some losses from my gain (tax etc.) also just any views on simply selling up like this or would it be better to try and save the travel money and keep my asset? very interested to get your esteemed views on this, thanks.
also, before any of this happens, if summer 2007 is my target, what would you recommend i do my current mortgage, up for review dec 2006, next year will be year 3 and i have to dedcide on a fixed term or variable ( currently at 3.69 1 year fixed) . im looking at freeing up 5/10k for personal use (dental operation etc.) and also want to look at giving back the 30k my parents gave me for deposit, which was always my plan so siblings get the chance i had etc.(eldest of 4)?
would it be a good idea to switch my lender to get a better rate and get the 40 oddk incorporated in the switch over even though it will only be for 6/7 months.
or would it be easier to stay with my current lender, just get the 5/10k top up now, readjust my rate to the most favourable available for say 1 year and then when i sell just hand over the money to my folks then, who when they hear im sellin up to travel will probably go bannanas anyways so by givin back their 30k thats me boxed off and a clean bill of health so they cant really say much anyways.
and ive done well so far so they'll eventually come round and well id love to make some money and start afresh, so i look forward to anyones ideas/suggestions/critiscism/praise?!
thanks
itsonlymoney.
