For me, I’d be paying off the mortgage and buying new IT gear for my home, and setting myself up with passive income so I don’t need a job anymore.
If it was enough of a win, I may buy a new property and rebuild my house on it… Making a few small additions and renovations along the way. Stuff we already want to do, but don’t have the money for… The only big benefit would be that the house would be built on quite a bit more land than my current home. The lack of land was one of the things I wanted that I had to give up because of the other requirements we had, so being able to get what we have (which we need) and a bit more land would be perfect. Sell this old house and move into the new one.
Beyond that, any money I have left over would probably be spent to pay off friends debts and mortgages… One friend is still renting. He’s in a great place and his current rent is well below the average for his area, but the land owner is an older lady, and I would want to ensure he has the same security for a place to live as I have. I’d probably try to buy the place from the lady at market cost, and she can stay renting there as long as she likes, at very low rent, just as she has afforded to my friend for all this time.
When she decides to depart, instead of renting the place again, I’d renovate it, and gift the whole house to my friend. He would go from occupying a small basement apartment to owning the whole house. From there he can either take over the whole home, or rent out the upstairs and keep things as they are. It’s up to him.
I have a few other ideas but I haven’t even played the lottery in a long while.
For me, I’d be paying off the mortgage and buying new IT gear for my home, and setting myself up with passive income so I don’t need a job anymore.
If it was enough of a win, I may buy a new property and rebuild my house on it… Making a few small additions and renovations along the way. Stuff we already want to do, but don’t have the money for… The only big benefit would be that the house would be built on quite a bit more land than my current home. The lack of land was one of the things I wanted that I had to give up because of the other requirements we had, so being able to get what we have (which we need) and a bit more land would be perfect. Sell this old house and move into the new one.
Beyond that, any money I have left over would probably be spent to pay off friends debts and mortgages… One friend is still renting. He’s in a great place and his current rent is well below the average for his area, but the land owner is an older lady, and I would want to ensure he has the same security for a place to live as I have. I’d probably try to buy the place from the lady at market cost, and she can stay renting there as long as she likes, at very low rent, just as she has afforded to my friend for all this time.
When she decides to depart, instead of renting the place again, I’d renovate it, and gift the whole house to my friend. He would go from occupying a small basement apartment to owning the whole house. From there he can either take over the whole home, or rent out the upstairs and keep things as they are. It’s up to him.
I have a few other ideas but I haven’t even played the lottery in a long while.