ChatterBank0 min ago
can you help me?
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Recently we had to put my nan into a local resident home as she cannot manage on her own anymore even thou we got home help etc in its gone past that stage.So we are now looking at 20k a year in fees etc.She has got some savings so for the first 3 years we are ok.
My nan does have a nice bungalow if you were in our position would you look at selling it by auction etc or hold on to it for another year. Any useful advice would be greatly appreciated.
My nan does have a nice bungalow if you were in our position would you look at selling it by auction etc or hold on to it for another year. Any useful advice would be greatly appreciated.
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...a lot of property going to auction at the moment Archer..............................and there'll be more yet............I would rent out the bungalow..... (check with her/your accountant as there are big tax implications here plus future inheritance tax).
Rent may be 10k or so.........that should eke out the savings for a bit longer. ...........then, in a few years, when prices have stabilised, sell it........as long as your accountant agrees
good luck
Rent may be 10k or so.........that should eke out the savings for a bit longer. ...........then, in a few years, when prices have stabilised, sell it........as long as your accountant agrees
good luck
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