Mortgage paid off... now what?

[Churchill]

Talking of property for sale.

This looks fantastic from a distance.

20 bedroom house for sale in Ruperra Castle, Lower Machen, Newport, NP10

Like at least a mile away.

£1.5 million to buy. £3.5 million to renovate. Then worth ~£10 million.

An ideal project and I'd jump at the chance if I had the money.

[DimPrawn]

£1.5 million to buy. £3.5 million to renovate. Then worth ~£10 million.

An ideal project and I'd jump at the chance if I had the money.

I like how it lists it as 20 bedrooms. It hasn't got any bedrooms! Or doors, or floors or ceiling or roof for that matter.

[Churchill]

I like how it lists it as 20 bedrooms. It hasn't got any bedrooms! Or doors, or floors or ceiling or roof for that matter.

Don't forget the outbuildings. All of which can be built on.

I reckon my old boss Sir Terry will end up buying it.

[MarillionFan]

I like how it lists it as 20 bedrooms. It hasn't got any bedrooms! Or doors, or floors or ceiling or roof for that matter.

Right. I'm going to put an add on Zopa.

Dear Zopa investors

I would like to borrow £1.5 Million and a further £3.5 million to buy and subsequently renovate my own castle.

I have always dreamed of owning a castle since I was a little boy. I used to play Dungeons and Dragons with my friends and had a level 10 Elf Thief(not that I am of course).

I would like to renovate the castle and make sure the dungeons underneath have many fiendish traps & horrible monsters.

With your money I plan to make a centaur as well as a minotaur by digging up dead bodies from the local graveyard and sewing on half a horse and bull from the local farm. In addition, flame pits don't come cheap what with the increase in gas prices.

I have a very good credit rating and work in IT. I will of course have to give that up to become the Dark Lord of Newport but I am fairly certain that I can pay you back over time by sending out my evil army to plunder the local Welsh villages and by collecting gold from dead adventurers.

I have an A*60 rating.

Yours

The New Dark Lord of Newport(make it come true)

[ChimpMaster]

But things can go wrong with property, it can eat into your time and money. Not guaranteed, then nothing is.

Things can go wrong with any investments! Shares can collapse, become worthless, or stop paying out dividends. Money in the bank is no longer seen to be as safe as we all thought years ago. Private collections of gold has been plundered by governments in the past.

Personally I think property is one of the more stable investments. But it certainly shouldn't be your only one.

[lukemg]

My house is enough investment in property. The rest is going in individual shares, funds spread across the globe and low-cost index trackers.
I buy when additional resources allow using ISA's and a SIPP and hold my nerve during the downturns (I should keep buying but don't always manage to).
So far, so good (around a 9% average annual rise across the lot over 13 years, steady if a little unspectacular)
BTL - train missed and heard too many nightmare stories about tenants etc. I don't need the hassle...