After paying off mortgage, what next

[Menelaus]

Say you are single and have paid off the mortgage on your 2-bed.

What next? Get another flat and buy-to-let?

Buying bigger house with a new mortgage seems strange and unecessary.

Pay off mine? Just a thought

[TinTrump]

I would get a BTL if a) I was still in the UK b) thought that prices had bottomed out and c) I could afford it! My house back in the UK is rented out and my flat here (Middle East) is paid for by my employer. So although its my main home its functioning as a BTL for the time being.

But I would also suggest that you diversify. I wouldn't (and don't) put all my money in one investment vehicle. Nothing exotic, with one exception:

One suggestion a friend made to me was buy art at a students' graduation exhibition. For a couple of hundred quid you get something you like (otherwise why else buy it) and there's the slender chance that it becomes valuable. I've bought a couple of paintings; no jackpot yet but they look good.

[oracleslave]

Must have thought I was a right nob

Bet it was worth it though. I plan to do something similar......in about 18 years

[Cyberman]

Definitely let your current place and buy another two bed. Two beds are the optimum for letting, and of course if you upgraded then you would not be able to let without lots of inconvenience. Property prices will appreciate if you buy in the right areas, so go for it !!

[KentPhilip]

Bet it was worth it though. I plan to do something similar......in about 18 years

No I don't think so. When I got home I thought I had been a bit of a nob too...

ho hum.

[SuperZ]

Definitely let your current place and buy another two bed. Two beds are the optimum for letting, and of course if you upgraded then you would not be able to let without lots of inconvenience. Property prices will appreciate if you buy in the right areas, so go for it !!

I thought one bed flats were the optimum but maybe it depends on the area.

Personally I think what has been the best investment vehicle of the past may not be the best investment of the future. Some people are planning on buying in a year expecting the mega % returns of the last 10 years but that may not happen, we might have a sustained period where prices remain flat

So diversify.......

Personally I`m not a big fan of property as an investment vehicle, it can be costly to maintain,comes with it`s own risks, not easy to sell and it can take a while to sell also and there are big costs involved in buying and selling. Oh yes, I am talking from experience. I have a rental property and have no desire to sell but it`s not the easy ride some people think it is.