I inherit a 450,00 house when I turn 21 ama

jon2016

Only a few people know this my parents and one of my flatmates

I cant wait till the day, going to be one huge pay day

Edit : meant to say £450,000

(edited 7 years ago)

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GG
WP

Don't know if this is a troll thread? Or @AwesomeGenius

Reply 3

username1738583

Was legit gonna hate on AG... :getmecoat:

That's really cool, don't see the need to brag on here but nonetheless congratz :party:

Reply 4

username1539513

Original post by jon2016

Only a few people know this my parents and one of my flatmates

I cant wait till the day, going to be one huge pay day

Only 45,000? Or did you mean to write 450,000?

Reply 5

TheDefiniteArticle

You know a murderer cannot benefit under their victim's will, right?

Reply 6

jon2016

Original post by homeland.lsw

Was legit gonna hate on AG... :getmecoat:

That's really cool, don't see the need to brag on here but nonetheless congratz :party:

I wanted to tell someone ! burden of my chest

Dont mean to brag !

Reply 7

FigurativeTart

You taken

Spoiler

Reply 8

jon2016

Original post by TheDefiniteArticle

You know a murderer cannot benefit under their victim's will, right?

Nah it was my Grandmother's house, she died a few years ago

Reply 9

username1738583

Original post by jon2016

I wanted to tell someone ! burden of my chest

Dont mean to brag !

Ok! At least you are slightly more humble than other users...

So where is/ what kind of property is it? :holmes:

Reply 10

jon2016

Original post by LaMandarine

You taken

Spoiler

Im going to sell it and invest the money in low risk Bonds and Shares.

Spoken informally to a few people who said I would be able to get an income of £20,000 a year rising above inflation each year

Reply 11

TheDefiniteArticle

Original post by jon2016

Nah it was my Grandmother's house, she died a few years ago

Who's the trustee?

Reply 12

jon2016

Original post by homeland.lsw

Ok! At least you are slightly more humble than other users...

So where is/ what kind of property is it? :holmes:

Its a pretty standard 3 bedroom property in North London ! not really that glamorous

Reply 13

TearsInRain

Inb4 gold diggers. Oh wait, too late :colonhash:

Reply 14

jamestg

Original post by jon2016

Only a few people know this my parents and one of my flatmates

I cant wait till the day, going to be one huge pay day

Quite a lot of people inherit their parents' house...

Reply 15

username1738583

Original post by jon2016

Its a pretty standard 3 bedroom property in North London ! not really that glamorous

Hey! It's a decent investment, although the properties in my part of London (NE) are cheaper, I think 450K could get you 4 bed, not too sure...

Will you sell it? become a landlord? or live in it yourself?

Reply 16

jon2016

Original post by jamestg

Quite a lot of people inherit their parents' house...

Yes but I turn 21 in 2 years time and both my parents are alive, this was my grandparents

Reply 17

jon2016

Original post by homeland.lsw

I think I will sell it ? Landlords have too much responsibility

Gives me more freedom to pursue a career I want knowing I have a cushion of 20,000 a year.
Prob go into Journalism or something.

Reply 18

FigurativeTart

Original post by jon2016

Im going to sell it and invest the money in low risk Bonds and Shares.

Spoken informally to a few people who said I would be able to get an income of £20,000 a year rising above inflation each year

Wow o_o.
Sheesh, how much would the tax be for 450k anyway >_>

Reply 19

jon2016

Original post by LaMandarine

Wow o_o.
Sheesh, how much would the tax be for 450k anyway >_>

Well its complicated because someone of the property belongs to my Dad, but my dad promised to give me his share when I turn 21. So I dont think I have to pay inheritance tax

I think I will pay capital gains tax on any rental income ? not sure but around 20%