Who wouldn’t want to inherit a house? It may not be for living in, but it can also be a source of profit. There are those who don’t want to keep the house for many different reasons, however. Before you react negatively to these grounds for selling, do consider the factors that brought them about in the first place. Here are some examples:
Financial Instability – One of the reasons people sell their property (inherited or not) is to gain financial stability in the midst of a crisis. Though many would think that it’s easier to have it rented out or be used for loan security, you have to fix it up before it can actually be rented or offered for a decent loan amount. For most, giving up a second residence that they cannot personally use is still the wisest financial decision.
Negative Memories – Like it or not, trauma is a reality that many people deal with. Not everyone has a strong mental fortitude. If you feel you cannot live with the memory of that house, fasterhouse.com and other experts say that it’s better to sell it to someone who can take care of it better. Being able to say, “I want to sell my inherited house.” with conviction is not something you should be ashamed of.
Needs Renovation – As mentioned, upgrading or fixing the house to make it livable is necessary if you want to live in it or to have it rented out. You may have stable finances, but that does not mean you have extra funds to maintain the house. If you are renting, but find the house you inherited unlivable, then don’t renovate and sell it instead.
In the end, your objective is to better yourself and your life with the inheritance you’ve received. Selling it to meet this end should not be viewed as wasteful or shameful. After all, you are now the new owner of the house and not the other way around.