What Would You Do ?

[pumpjack]

thinking of buying a home, then ill be rent / mortgage free rest of my life, when im in the box my daughter will get it and that will get her a good start in life.
home is approx 80k needs bit work done but ive money to do that too, so will near skin me.
on the other hand ive mates telling me to live my life and spend it, go on holidays " live ur life to the max you never know the minute " if im skint through no work then just sponge of the dole, sure dont most do it anyway dont they . thing is if i keep on going like that ill end up with nothing, 4 year ago i had 180k savings so i know what im like.
just want gauge some feeling, im 52 soon , i can work as long as my arms & legs still carry me.
i just want a place to call my own. my own wee palace . given my circumstances what would you do ? what is best choice to make

[Scarlett]

It depends on how much you need that security. I have had a mortgage, and I now rent, and I prefer renting. Having the mortgage and all the house repairs was a nightmare and massive pressure to a) stay there and b) find the money each month. With renting I can move easily and the repairs are not my worry. If you want to buy outright, could you maybe afford a 2 bed place and get a lodger, or student for some of the time? That way you'd have income from your house but still have a house. Don't think about the dole- it is really difficult to live on benefits, and if you are physically able to work, not necessary. You could maybe do the thing where you buy a share of a house alongside a bank, so pay less for it, and still live in it as though it was yours. Your daughter I'm sure would still be very grateful for half of it when it finally sold!

[Patsy33]

Go for peace of mind!...