My mom passed away in March and I inheritance a house that is worth 800k-900k. My dad owns $150k and the bank owns approx. $150k, and I own the remainder. I have been paying for homeowners insurance, mortgage ($800 a month), and monthly utilities.
I am a full-time university student and I have to make a decision ASAP whether to sell or to rent. I have been going through every room in the house and cleaning it up (taking items that i want back to another location i live at).
I have been doing this job all by myself (only child and I don't have much family who lives near me) and it's been a huge headache.
I want as much advice as possible regarding should I rent out the house (probably don't want to go down this route since I'm ready to close this chapter of my live and move forward).
If I chose to sell the house, should I try not to have the estate sale before listing the house on the market so that at least there is some furniture in the house (staging purposes)?
I understand renting is a long-term project, but I'm young (almost 21) and I don't even know what career pathway I want to follow yet and I don't want to have to have this burden over my head. I know that property is a great investment and if I do sell the house, I may look back when I'm 30 and think I should have waited, but I also think I need to do what is best for me now at this point in my life. She also passed away of cancer in this house and while we never got the chance to fully discuss it, she really wanted the house to go to me; nevertheless, we never could have predicted the amount of stress/time/energy that it takes for a 20 year old to manage a house.
It probably sounds like I have already made up my mind, but once again, I want viewpoints from all sides of the spectrum so all help is appreciated!
Thanks
Submitted June 24, 2019 at 07:15PM by splashfruit http://bit.ly/2ZHUa9N
