Hope this is the right forum to ask this question.
My hubby & I are recently retired and have a substantial sum between us from lump sums plus savings. We are thinking seriously of buying a 2 bed apartment in a holiday complex in a place where we have holidayed with our family for many, many years.
The apartment is on offer at a very competitive price and in good condition, fully furnished.
My question is, to all the financial gurus on here, are we mad at our stage in life? We have the disposable income, the apartment would be well used by our children and grandchildren as well as ourselves plus there are other family members with property in the area.
We both love the area which is in a quiet and beautiful spot with direct access to and beautiful views over the sea. I don't think the apartment could lose any value given the low asking price (owner has to sell).
At the moment all our money is in equities and we feel a diversification would be better. We would be using less than one-third of our funds to buy the apartment and would not be renting it out.
Is this a daft idea for a couple in their sixties?
PS we own our home outright and have no debts.
My hubby & I are recently retired and have a substantial sum between us from lump sums plus savings. We are thinking seriously of buying a 2 bed apartment in a holiday complex in a place where we have holidayed with our family for many, many years.
The apartment is on offer at a very competitive price and in good condition, fully furnished.
My question is, to all the financial gurus on here, are we mad at our stage in life? We have the disposable income, the apartment would be well used by our children and grandchildren as well as ourselves plus there are other family members with property in the area.
We both love the area which is in a quiet and beautiful spot with direct access to and beautiful views over the sea. I don't think the apartment could lose any value given the low asking price (owner has to sell).
At the moment all our money is in equities and we feel a diversification would be better. We would be using less than one-third of our funds to buy the apartment and would not be renting it out.
Is this a daft idea for a couple in their sixties?
PS we own our home outright and have no debts.