Sorry to hear that FOS it must be quite a sobering thing to have to come to terms with but looks like you have decided to have XYZ good years rather than letting it get you down too much.
Trouble is there are so many considerations such as your age; whether you have family to consider; whether you are working and still plan to work; how financially secure you are etc etc.
Personally I think it's not just about living somewhere cheap and with easy access to cheap whores surely it needs to be about your overall quality of life and happiness, after all it's unlikely that you will be shagging every day
If you move somewhere dirt cheap that's a shit hole are you going to be happy
Not sure where you are now but recall you previously saying you were from the Preston area, perhaps worth considering moving back to the general area as it may also provide a support network should you need it at some point
Also fairly cost effective
Preston also has motorway access and a main rail hub so easy access to a lot of areas if you want to punt by train, couple of hours and your even in London
I'd like to think that I would also take your outlook in a similar situation but we never know how we'd actually act until faced with the reality of the situation, take time to think it through properly and do what you do for the right reasons