Wednesday, January 31, 2018

Should I buy my own place, or stay with folks?

I'm 24 and single. My folks are quite elderly and aren t as physically able as most parents of people my age, so my spare time when not at my 9 til 5 is filled with looking after them and the house.

As a result of a tragic death in my family, I've been left with £30k.
My folks now own the house we re in.

They want me to stay with them and would rather sell this house (it's gone up by around £50k since they bought it, so it's now around £170k) and have me put the £30k in so we can live in a better place.

I'm tempted to either buy a small place in not such a great area for £30k, put my DIY to use there, sell, buy another place of my own. Or put a deposit down and mortgage for somewhere more decent, but I only earn £14k after tax a year and have a car.

I have no one to ask, as everyone just says "up to you". Anyone have any better advice?

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