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10 Signs You Should Sell Your Inherited House

Inheriting a house can be a bittersweet experience. It’s a tangible reminder of a loved one, but it also comes with a hefty set of responsibilities –  mortgages, maintenance, property taxes – and a big question: keep it or sell it?

While keeping the house might feel emotionally satisfying, there are situations where selling is the smarter financial and practical choice. So here are 10 signs that might indicate it’s time to sell your inherited home.

10 Signs You Should Sell Your Inherited House

If you’ve recently inherited a house, several sentiments can cloud your judgment. But if you see any of these signs, it may be time to sell your property.

1. The Emotional Toll Is Too High

Dealing with grief is tough and different for everyone. Sometimes, a home that’s full of great memories can also be a painful reminder of a loved one you’ve lost. This can lead to physical and emotional difficulties.

Researchers from the National Alliance on Mental Illness (NAMI) say that if you don’t deal with your grief, it can show up as physical problems like feeling tired all the time or having trouble sleeping. It can also affect your emotions and make you feel anxious or depressed.

If your home brings up more sad memories than happy ones, selling it could be a way to start moving on from your loss.

2. The Location Doesn’t Suit Your Needs

While inheriting a home can be a good thing, the location may not always be ideal for you. Perhaps it’s in a small town where you don’t know anyone or in a bustling city that doesn’t suit your lifestyle.

If you’re open to relocating for career opportunities like many millennials or the location of your inherited property doesn’t fit your current needs or future plans, selling it could provide the resources to find a place that better aligns with your desired lifestyle.

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3. The Upkeep Costs Are Overwhelming

While homeownership offers numerous benefits, it also means a lot of expenses.

As Angi reports, the average person in the United States spends $4,300 monthly on their home.

If you don’t have the time or money to keep up with these ongoing expenses, selling your inherited house might be a good option.

4. You Have Multiple Heirs with Conflicting Goals

If you’ve inherited a house with your siblings, things can get complicated quickly. Everyone might have different ideas about what to do with it, and that can lead to some serious arguments.

Selling the house might be the best thing to do. That way, you can split the money evenly, and no one gets left out. Plus, it’s a way to honor your loved one’s memory without fighting.

Just remember, it’s important to talk to each other and try to come to a decision that everyone can agree on. If you can’t do that, you might need to get a lawyer involved.

5. The Housing Market Is Hot (and You Want to Capitalize)

The U.S. housing market is currently experiencing a high buyer demand, which is great for selling a house.

The National Association of Realtors says that home sales increased by 8.3% in March 2024 compared to last year.

So, if you’ve got a house to sell, especially if it’s in a popular area and is in good shape, now’s the time to do it to make a substantial profit.

Spring and summer is known to be the best times to sell a house, but that’s not necessarily true right now. With low mortgage rates and not many houses on the market, you can sell your house any time of year and still get a good price.

Of course, you should still keep an eye on what’s happening in your local market to make sure you’re getting the best deal possible. But overall, the housing market is in your favor if you’re selling.

6. You Have a Better Investment Opportunity

While it’s totally understandable to feel attached to a house you’ve inherited, sometimes it makes more sense to prioritize your finances.

If you need money now or see a better way to invest it, selling the house might be a smart move.

It could give you the finances you need to deal with your current situation or even help you build a more solid financial future.

7. The House Needs Extensive Repairs

Inheriting a house with major repairs can be a double-edged sword.

While the property itself holds value, extensive work like expensive repairs like fixing the roof, upgrading the plumbing, or maybe even some structural work can be incredibly expensive.

If the repairs are major, it might make more sense to sell the house “as-is.” That way, you don’t have to deal with the hassle and cost of renovations.

8. You Don’t Have the Time or Expertise for Management

Being a landlord can be a lot to handle, especially if you’re already busy with work and family.

If you’re feeling overwhelmed by managing your rental property, maybe because you inherited it and didn’t really want it in the first place, or if you just don’t have the time or know-how, selling the house might be a good idea.

That way, you can free up your time to focus on the things that are important to you.

And if you don’t have much experience selling houses, it’s a good idea to work with a real estate professional. They can take care of all the details for you and make the process go smoothly.

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9. You Can’t Afford the Ongoing Expenses

Owning a house means you have to keep paying bills like taxes, water, electricity, and insurance.

These costs can really add up, and if you’re struggling to pay for them, selling the house might be the best thing to do. That way, you can use the money to pay for other important things in your life.

10. You’re Downsizing and Looking for a Simpler Life

Life changes, and so do our needs for space. Sometimes, a smaller, simpler home is just what we need. So, if your big house is more than you can handle now, selling it could be the answer.

If you sell your inherited house, the money you get can buy you a smaller place that’s easier to maintain and more in line with your current lifestyle.

If you’re an empty nester, retiree, for empty nesters, or just want a more manageable lifestyle, downsizing is a great option.

Smaller homes usually have lower mortgage payments, which can save you a lot of money each month. Plus, with less space to clean and maintain, you’ll have more time and energy to do the things you enjoy.

It might take some time to get used to living in a smaller space, but the benefits of downsizing are worth it, especially if you’re a homeowner looking to sell.

Sell Your Inherited House with Grandview Homes Today!

If you want to sell your inherited house quickly, Grandview Homes can provide an efficient solution. We buy homes quickly, regardless of their condition, and offer cash payments.

There’s no need for you to make repairs or clean up – we’ll handle all the details so you can move forward with ease.

Receive a fair cash offer and close within 7-10 days, avoid the stress of traditional home selling methods.

Get in touch with Grandview Homes today and obtain a fair cash offer within 24 hours.

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