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[Closed] Inheriting a property - what to do with it?

dawson · 2012-04-08T22:00:13Z

So.... My uncle passed away 2 weeks ago, in the will it states that me and my brother get 40% each and my mum gets 20% of his estate. The house is worth roughly £100k, but is un-modernised, and needs gutting, but its a solid house, with a drive and decent sized garden in a nice area with a desirable primary school nearby. I have seen 2 estate agents so far who valued it at £105k and £95k, but I'm thinking of keeping it to do it up to rent. I think it might need £15k spending on it to sort it out and would be able to get about £450/month rent. The thing is... by the time that rental income is split 3 ways is it really going to be worth the hassle? I know it will be an asset in the long run, which we won't have if we just sell it now and take the cash. Thoughts? is it worth the effort or should I just take the £30-£40k that would be my share if we just sell it?

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Edukator

Posts: 18593

Free Member

I sold in 89 and bought in 95.

Now might be a good time to buy but there's little evidence to support that view. Like any financial product if you wait till prices rise above the long term moving averages you won't pay much over market bottom but there's more chance the rise is the start of a trend than just a short term blip.

Posted : 09/04/2012 1:17 pm

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