+ Reply to Thread
Page 1 of 5 123 ... LastLast
Results 1 to 10 of 44
  1. #1
    Join Date
    Sep 2010
    Posts
    5,530
    Thanks
    377
    Thanked
    1,526
    Reviews
    7
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts

    Default Hypothetical

    Hypothetically, if you had the choice and a large amount of unexpected money came your way (let's say $100k) would you:

    A) pay it off your current mortgage
    B) put it towards an investment property
    C) buy a bigger/better house
    D) something non-house related -eg, massive spending spree, overseas holiday, take two years off work, buy a car, etc.

    Just thought as there's been a few house/mortgage threads lately this might be interesting.

  2. #2
    rainbow road is offline look at the stars, look how they shine for you
    Join Date
    May 2008
    Location
    in a glass case of emotion
    Posts
    12,483
    Thanks
    1,203
    Thanked
    8,298
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Depending on where in life I was at, I would put a chunk on my current mortgage -if only I had one! - (say $50k) and probably put the rest towards an investment property.

    Maybe take a bit to go o/s as well.

    In my circumstance, I'd be putting the whole 100k down as a deposit on a property.

  3. #3
    Join Date
    Nov 2010
    Posts
    1,812
    Thanks
    112
    Thanked
    699
    Reviews
    0
    Achievements:Topaz Star - 500 posts
    I'd pay it off my mortgage

    That would free up more $$ for everyday to go towards holidays, cars etc

  4. #4
    Guest Guest
    Is this for yourself? It depends where you are on your mortgage currently. I'd put it straight on my mortgage and pay it off as soon as possible. With a house paid off you can do all those on your list alot more comfortably.

  5. #5
    Join Date
    Jun 2012
    Posts
    225
    Thanks
    44
    Thanked
    48
    Reviews
    0
    Use most of it $80k for a deposit and the rest to pay off the cars/credit cards

  6. #6
    Join Date
    Jun 2006
    Location
    Hobart, Tasmania
    Posts
    5,946
    Thanks
    1,973
    Thanked
    2,080
    Reviews
    16
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    We have a residential house and an investment house, so we'd wipe out our other debts (car loan and personal loan), so that would eat about 50k, then we'd put the rest into our offset account, so helping to reduce interest repayments on the mortgages, and still there to spend if we want/need to or simply keep saving

    *I can haz typos*

  7. #7
    Join Date
    Jan 2006
    Location
    Tenambit.
    Posts
    9,037
    Thanks
    1,564
    Thanked
    2,936
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    I'd put it on the mortgage (we don't have any other debt) - which would in turn allow us to upgrade quicker than planned and free up some of teh budget to allow for a savings fund for holidays.

    (I'd keep $10K to the side to pay someone to do our main bathroom reno - so I didn't have to do it myself!)

  8. #8
    Join Date
    Sep 2010
    Posts
    5,530
    Thanks
    377
    Thanked
    1,526
    Reviews
    7
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Quote Originally Posted by Lily of the Nile View Post
    Is this for yourself?
    No, I wish! Just dreaming...

  9. #9
    Join Date
    Nov 2006
    Posts
    3,054
    Thanks
    269
    Thanked
    1,053
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    I'm hoping for an extra 100K right now I have my eye on two things and would have to choose between buying the house next door to get a bigger block/or do up or buying the acreage up the road, an extra 100k would be good, an extra 200k even better

  10. #10
    Buttoneska's Avatar
    Buttoneska is offline Winner 2010- Most Community Minded Thread Award
    Join Date
    Jan 2011
    Posts
    5,675
    Thanks
    2,066
    Thanked
    1,982
    Reviews
    3
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    easy for me - A - put it towards mortgage $100k would make a big difference to our repayments.

    If it was $50k I would prob renovate?


 

Similar Threads

  1. hypothetical - what do you do?
    By Buttoneska in forum General Chat
    Replies: 33
    Last Post: 14-09-2012, 10:09
  2. Hypothetical???
    By Buttoneska in forum General Chat
    Replies: 21
    Last Post: 10-04-2012, 16:37

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
FEATURED SUPPORTER
Baby SensoryBaby Sensory is the only baby programme that offers a complete approach to learning & development. Our classes ...
FORUMS - chatting now ...
Spectacular September TTCConception & Fertility General Chat
Husband upset by symptomsFirst Trimester Chat
IVF Babies due Sep/Oct/Nov 2017 #3pregnancy and babies through IVF
Vitamin A concernsPregnancy & Birth General Chat
Recurrent. Brown spotting no periodConception & Fertility General Chat
REVIEWS
"Made bed time less anxious"
by Meld85
My Little Heart Whisbear - the Humming Bear reviews ›
"Wonderful natural Aussie made product!"
by Mrstwr
Baby U Goat Milk Moisturiser reviews ›
"Replaced good quality with cheap tight nappies"
by Kris
Coles Comfy Bots Nappies reviews ›