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Inherited house from late uncle with my cousins. Should we rent it out or sell it?

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    #62
    pwurple
    Closed Accounts Posts: 12,449 ✭✭✭✭pwurple


    Excellent, hope your sale goes well.


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    #63
    rightmove
    Registered Users Posts: 992 ✭✭✭rightmove


    Sleeper12 wrote: »
    I'm sure you have your fill of advice but maybe just a little more.

    It's a nice sized windfall you have but it is not a bottomless pit. It'll vanish quickly with a holiday, clothes and a car. My advice is make a promise not to spend it things like that. Put it away and save for house or invest it long term. Before the crash I saw dozens of people blow through 100k plus inheritance in a year or two.

    Best of luck to you

    Correct decision


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    #64
    joeguevara
    Registered Users Posts: 8,017 ✭✭✭joeguevara


    rightmove wrote: »
    Correct decision

    A friend of mine got a similar windfall. They took 20 knout to buy a 2nd hand car and went on a trip to SE Asia as it was their dream. The other 80 was placed into an account that couldn’t be touched for 12 months. Now with interest rates the way they are the coupon was abysmal but it allowed them to make a plan of how they could make the money work for them. Some people have the discipline to just keep it in the CU or a current account and won’t go near it but other will dip in and out buying non essential luxuries. I know myself I would like the security that I couldn’t touch it.


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    #65
    Edgware
    Registered Users Posts: 5,875 ✭✭✭Edgware


    Three owners. No thanks. Sell and do what you want with your money. Rental is too much hassle now and you may end up paying a good bit of tax on it anyway.
    If you do want to own a property you have a good deposit. You could buy a property, rent out a room lunder the rental scheme and get the income tax free.


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    #66
    listermint
    Registered Users Posts: 33,640 ✭✭✭✭listermint


    the_syco wrote: »
    Who among you have the money to pay for any repairs needed, and will you be able to get the cost of the repairs back from the cousins?

    Read the thread fella
    ....


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