Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 2 months ago

Should I keep my childhood home or start fresh?

my Father is very sick and I’ve been taking care of him since I was 16. He left in his will that me and his other two kids will inherit his home and a sum of money equally. Now that things are getting worse I have to put my ducks in a row for when he is gone and I have so much sentiment for him and this house I don’t know if I should try to keep it and buy my siblings out. It’s on a two acre plot on a private road with direct access to a large and beautiful park. It’s five minutes away from a hospital, a convenience store, a gas station, a grocery store, and a freeway entrance. My fiancé and I don’t know if it’s better to buy out the house that has so many perfect qualities or to start fresh and sell the house. One of my brothers does not want or need the house and the other kind of wants it but honestly I’m cutting ties with him after how he repeatedly took advantage of my dad while he was hospitalized the last time and if he gets the house i don’t know how I’d feel. so should I keep the house and be broke for a couple years or let it go and start fresh?

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  • y
    Lv 7
    2 months ago
    Best Answer

    but honestly I’m cutting ties with him

    Shows mindset and the state of the relationship. Buying him out may not be as easy as you think. You are thinking logically about this now, that is not how these things usually work out. Personally, that location, land and such, I would try to keep it. But will a number be found that is fair for your brother? Somehow I think it is going to be way to much so you should either figure out now what over priced number you are willing to live with. Or get an estate attorney now, and work to do all that sort of BS.

  • 2 months ago

    If one of your brothers wants the house too - is buying him out even going to be an option?

  • martin
    Lv 7
    2 months ago

    You can't keep the home even if you try, as long as the others want to sell it to strangers. But it is worth a try, to maybe buy out your siblings who want to sell the house, if you have the money to buy them out.

  • 2 months ago

    You may have a problem with the brother who "might" want it. You have to all 3 agree if one of you wants to buy out the others. If you can't agree, it will have to be sold..

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  • 2 months ago

    Take sentimentality out of the equation. If this house wasn't your dads...would you ever consider buying it?

    A home purchase is one of the biggest expenses you will have in your entire life...you should make it objectively from a business position. Using emotion is foolish.

  • Anonymous
    2 months ago

    Wait until he's dead before you decide what to do with "all your money". It may be a lot less than you're expecting ...or nothing, at all.

    • Allan2 months agoReport

      When I said we get a sum of money I didn’t say a large sum, I’m not” counting my riches” I’m trying to decide now if I want to keep my childhood home before I have to make that decision while grieving

  • Stoo
    Lv 7
    2 months ago

    Depends on your financing and what your siblings want. Sounds like one is fine on selling, the other might need convincing. But if both of you want the house, only one of you really can - which might lead to an impasse forcing you to sell it and divvy up the cash equally.

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