What To Do With My Inherited House
If you have inherited a home recently, you may have many questions. Is there a mortgage still on the house? Should I keep it? Should I fix it up? Should I sell it? Luckily, Simple Solutions Realty Firm has had much experience in this area. Check out these simple tips on what to do if you have recently inherited a house.
Consult Your Family
Because this home was a family home, there may be relatives who have a sentimental attachment to the home and who want to keep it in the family. Be sure to consider all relative’s input when making your decision. This will help keep everyone happy and may even provide you with an easy option of renting or selling to family.
Rent It Out For Some Extra Cash
Whether the home is paid for or still has a mortgage, chances are that the monthly payment will be lower that what you could make each month renting it out. If you have no plans or desire to live in this home yourself, renting could be the best option.
There is a lot that comes with being a landlord, but it is nothing that you can’t handle. Be sure to first check to see if this commitment is something you are ready for and that this is the best option for you and your family.
If being a landlord is too much stress for you, there is always the option of hiring a property management company to do all of the legwork for you. This will let you rest easy while still being able to make an extra income or continue to pay off the rest of the mortgage.
Fix It Up And Then Sell It For More
If you are a handyman or have some extra cash to invest into this home, then fixing it up can add a lot of value to the home, making your profit even greater. Some simple fixes that you can do to easily add value to the home is to update the kitchen, replace the carpeting, paint the walls, and improve the curb appeal.
Whether you hire a contractor or do most of the work yourself, fixing a home can be stressful. Be sure that you understand what you are getting yourself into before you start such a huge project.
Sell It As-Is
When inheriting a house, many people would rather not deal with all of the stress of fixing it up, moving into it, or renting it out. Dealing with tenants, laws, upgrades, and constant repairs can be enough for some with the home they already have, let alone a new inheritance. Simple Solutions is dedicated to making this often sensitive process as smooth as possible, most people will take the belongings from the house that they want, leave what they don’t, and sell the home as-is. If you want to see how much you can get for your new home with as little work on your end as possible and in as little as two weeks, contact Simple Solutions Realty Firm today.