The Student Room Group
Original post by Wisefire
In a few years when its mortgage is paid fully, I could in the long-run downsize from my current home, the value of which is a number of hundred thousand pounds, when I inherit it, and use that freed up money on whatever I please? I could downsize from my house once I inherit it such that I live in, for example, a modern apartment in a nice and convenient area of London. Such a property I would be fine with would seem to cost a minimum that is around £100k less than the value of my house. Holding an additional £100k would be great. I'd largely use it on more education, and investments which would add to my money, which I would want to in turn place into my education.

Anyway, I am not knowledgeable in this but I probably have a correct idea of what inheritance and property ownership can involve?


Not quite sure what you're asking here.

If you wanted to sell a house you own outright having inherited it, buy a cheaper one and pocket the difference then of course you can spend it on what you want. Whether this is wise is a different matter. As for living in a modern flat (it's not 'apartment': we're not American) in a 'nice and convenient area of London', you'd probably need more than a couple of hundred-thousand for that.
To be honest, I don't understand why anybody would choose to pay for university outright when they you can get a student loan. Maybe if you have a lot of money, but not if it involves a limited amount like in this situation. Use it to be comfortable as hell whilst studying, live well, eat well, go on trips abroad during university breaks.... anything but throwing it at tuition. Paying for your tuition outright doesn't seem to have that same satisfaction as paying for something like a house, or a car outright would, just because you gain so little by doing it.

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