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What to Do After Inheriting a House in 6 Easy to Follow Steps
Have you recently inherited a home after a family member or friend passed? Losing someone is never easy, and when you combine grief with the stress of figuring out what to do with their belongings, it is easy to feel overwhelmed. Following these 6 steps for what to do after you inherit a house can help to take some stress off of your plate and allow you to focus on your family.
A Breakdown of Steps After Inheriting a House
- Consult with all beneficiaries: If you are not the sole beneficiary of the house, it is important to consult with all beneficiaries before making decisions about the house. Different members of the party may want different things, and it is important to consider everyone’s wishes.
- Continue to pay the bills: Even if the mortgage of the house has already been paid off, you still need to pay for the water, gas, electric, trash and any other utilities the house has. This will not only make it more comfortable for you to be in the house, it will also prevent you from racking up some serious late fees.
- Take time to process: If possible, try to take some time to process your loss. It is easy to bury yourself in a task like dealing with the house during a loss, but this can lead you to making decisions you may regret in the future. Before making any major decisions about the house, try to take time to process your loss.
- Get the value of the home appraised: One factor that may directly impact your decision is the value of the house. If the house has been in the family for a while, it is very likely that the value has fluctuated from the initial cost of purchasing it.
- Make a decision: Together with all of the other beneficiaries, decide what you want to do with the house. When it comes down to it, you’re three big options are to sell the house, have one party live in the house or rent the house out to a tenant. Selling the house will likely be the most work upfront but will also result in the highest income upfront. Before deciding to rent the house out to tenants, it is essential to be prepared for the amount of work being a landlord can entail.
- Let others help: Once it comes down to emptying out the house, let others help with the process. This will not only help to expedite the process for you, it will also allow for other people to walk through the house and choose mementos.
Let a Storage Unit Rental Help with the Process
If you are looking to sell the house as soon as possible, you may not have time or be ready to sort through all of the belongings in the house. A storage unit rental will allow you to get everything out of the house and sell it to prevent the house from accruing any additional expenses.
Storage World has storage facilities in Jonesboro, GA and Decatur, GA on Panthersville Rd and Flat Shoals Pkwy. Check out our storage locations today.