My parent has been diagnosed with a terminal illness, unsure how long left, but the house and some pension contributions will be left to me.
I am single and currently living in the house, but with three bedrooms is excessive for my needs, so thinking of downsizing when the time comes.
So the house is probably worth anywhere between 90-110k, but will need an appraisal on that. Additionally two pensions, one at around 20k and the other amount is unknown to me but from conversations the total could be around 70k from both pensions, either over time or a lump sum.
The house will need a fair bit of renovation if I’m to sell, a new bathroom for certain, and bits of work here and there maybe totalling 15k.
My question is how do I go about investing wisely, as in how do I maximise the profit I can make on the home, and invest what is left in a manner which will continue to benefit me in the future? I want to make sure I make this work for me, and not waste an opportunity to make this work for me long into the future, as I know that’s what my mum would want me to do.
Any advice on investing this properly?
