WHEN the house sale money hit our account, my husband Erik leaned over my shoulder and whistled.
“Blimey,” he said. “That’s a lot of holidays.”
Writer Tess Stimson has revealed that she plans on spending her children’s inheritanceCredit: Supplied
She recently sold the family home for a six-figure sum and is planning on keeping hold of itCredit: Supplied
He wasn’t wrong. After fifteen years in our six-bedroom money pit in Vermont – all stained glass, creaky floors and bills the size of a small – we’d finally sold up.
Once the bank took its share, we were left with a glorious six-figure lump sum sitting there in black and white.
And this time, for the first time, it was ours. No new mortgage, no plans, no leaking roof to fix.
Just cash and we won’t be squirrelling it away for our , instead it’s a chance to start again.
We looked at each other and burst out laughing. After decades of being sensible adults, we’d suddenly become teenagers with a massive limit.
For years, we’d talked about “downsizing.” The kids – Henry, 31, Matt, 28, and Lily, 23 – were long gone, but their ghosts lingered: the pencil marks on the kitchen doorframe, the posters blu-tacked to the bedroom walls, the boxes of childhood detritus still stacked in the attic.
But nostalgia doesn’t pay the gas bill.
The third floor hadn’t been used since , the heating was a joke, and every month there was another catastrophe whether that was the boiler, the roof or the drains.
One night, over wine, we admitted the truth: we didn’t want another “family house.”
We wanted freedom.
Erik confessed he’d been scrolling through photos of a friend sailing around the world. I admitted I’d been secretly following a British couple who’d sold up and moved to Venice, my favourite city in the world.
He looked at me across the table.
“What if,” he said slowly, “we just… didn’t buy another house?”
For a moment, I thought he’d lost his mind.
Everyone our age has been raised to believe home ownership is the holy grail. I bought my first flat at 25 and never imagined being a renter again.
But the more we talked about it, the more it made sense.
We could rent somewhere nice near Erik’s job, invest the rest, and for once have some cash in our pockets.
I’m in my fifties, and like many women my age, I’m acutely aware that time isn’t limitless. My parents both died young – 59 and 68 – and I’ve lost my younger brother and sister too.
Tess and her husband Erik (seen here with their kids at a younger age) say their old house was a ‘money pit’Credit: Supplied
Tess’ children seen outside her rental new propertyCredit: Supplied
So we took the plunge. We sold the house, paid everything off, and with some of the proceeds bought a one-bedroom flat on the beach in Florida, where our eldest lives.
It’s tiny but gorgeous – the same size as the first place I ever owned, only with palm trees and dolphins instead of buses and drizzle.
We rent it out for now, and it’s there waiting for us when we decide to retire.
Meanwhile, we’ve moved into a pretty rental half the cost of our old mortgage. If something breaks, we just ring the landlord.
People often ask if we feel guilty about “spending the kids’ inheritance.” Honestly? Not one bit.
We’ve already given them the best start we could: private school, university, driving lessons, second-hand cars, and years of family holidays.
Erik’s mum left her estate directly to them, so they’ve already had a little head start in life.
Now it’s our turn.
Stars on their Inheritance and Net Worth
FAMOUS faces in the showbiz world are deciding against leaving their whopper inheritances to their kids.
This includes James Bond actor Daniel Craig who branded it “quite distasteful” to do so.
But who are the celebs who support this line of thinking, and what’s their net worth?
- Daniel Craig: Estimated net worth
- Sara Davies: Estimated net worth of £35million won’t leave sons Oliver, 10, and Charlie, aged seven, with a huge cash sum
- Sting: Estimated net worth of £135million, and he admitted back in 2014 that he wouldn’t leave his six children any of the money he had earned
- Nigella Lawson: London-born Nigella is worth a staggering estimated £15.7million and she has two kids
- Gordon Ramsay: A dad of six with an last year of £610million, with him reportedly taking home £90million each year.
- Ashton Kutcher: The Your Place Or Mine star is rumoured to have a net worth of £157million and has two kids
If any of them were in trouble, we’d help, of course we would. But there’s nothing wrong with letting your grown-up children struggle a bit.
It builds character. My mum always said, “Cut your coat according to your cloth,” and she was right.
The truth is, we’re not reckless. We’re not frittering away the money on diamond watches and fancy cars.
We’ve invested most of it carefully. The interest alone covers small luxuries – a meal out, a weekend break, a flight to see friends.
We spent a blissful month in Venice this year, eating cicchetti and pretending we were locals.
Next summer, we’re treating the whole family to a two-week holiday in the Azores.
I’d rather give with a warm hand than a cold one and enjoy the moments with them now rather than leave a lump sum they’ll use to pay off a mortgage or buy an SUV.
The kids have been wholeheartedly encouraging, though I wouldn’t blame them if they bumped us off before we spend every penny.
But I don’t want to reach 80 with a fat bank account but no memories. I want stories, adventures and yes, maybe a few indulgent splurges along the way.
Erik’s already eyeing up a new espresso machine. I’m browsing flights to New Zealand. And for once, we don’t feel guilty.
Because after years of working, parenting, and paying everyone else first, it’s finally our time.
We’ve swapped bricks and mortar for memories — and honestly, it’s the best deal we’ve ever made.
‘The New House’ by Tess Stimson, published by Avon, out now.
Tess says she would rather leave her children with memories than moneyCredit: Supplied 
