Festive FelizNavidad Pony
- Jan 3, 2006
Good news! When my grandparents both passed away I found out they have left their house to me! I will have to do a lot of work to it to make it work for our son but Yay!! I love my home but I can only imagine what living without a mortgage will be like.
How sweet of them. If you like where you are at what if you consider selling or renting their home and staying in yours? You could just use the profit to pay on/off your mortgage? I've been thinking about such things lately, my Dad is getting older and has 3 properties that would become mine when he passes. We've been discussing some of that lately and sorta planning out the future. It seems easier to just sell and be done with it and roll in your pile of money but he's getting ready to retire in the next couple years and having a place to rent will provide income indefinitely. It can be a hassle but there are some good rent management companies that will handle a lot of that for you. You do pay a fee but you still come out in the green. It's something to consider, around here I could easily charge 1000./month rent on one of his houses, after putting aside for tax/fees/etc. I'd still be looking at about 700./month which is more than half my monthly mortgage and is steady income that carries on after retirement.
Now, if your grandparents house is bigger and better and worth moving into than I say go for it! Moving is always a lot of work but think about it in the long-run