Wondering how to leverage an inherited home to build or transfer wealth? Navigating the decision-making process for an inherited property presents a unique set of challenges and opportunities. Here, we’ll explore key factors to consider for selling the home or tearing down and rebuilding.
Factors to consider when selling an inherited property
- Quick liquidation: Selling the property provides immediate access to cash, which can be beneficial if you need the funds for other purposes. If you’re interested, selling your home to TJH has many benefits.
- Skip renovations: Selling an inherited property may be simpler than taking on renovations yourself and navigating the complexities of remodeling.
- Potential undervaluation: If the property is sold as is, especially if it’s outdated or in disrepair, there’s a risk of not maximizing its potential value. You might miss out on the benefits a rebuild could offer.
Factors to consider when rebuilding an inherited property
- A larger, more functional home: Inheriting a property often means acquiring an outdated home. Choosing to rebuild allows you to modernize it with open-plan layouts, flex spaces, a larger potential footprint, energy-saving features, and upgraded design selections.
- Increased resale value: A rebuilt home that meets modern living standards and preferences can boost its value and buyer appeal, possibly giving you a high return on investment if you choose to sell later on.
- Maximized potential: With BUILD by TJH, you can transform your inherited property by adding an Accessory Dwelling Unit (ADU). This offers a smart way to welcome multi-generational living, provide a comfortable space for aging parents, or earn extra income by renting it out.
- Financial gains: Rebuilding can open up opportunities for profit or rental income.
- More possibilities: While rebuilding does involve letting go of a cherished or familiar home, the benefits and opportunities it could bring may make it worthwhile.
How can BUILD by TJH unlock value in an inherited home?
BUILD helps adults who will inherit or have inherited property in our building areas maximize their homes’ potential by tearing it down and rebuilding a larger, more functional one in its place. We make it possible for them to get more financial value from their property. After using BUILD to enhance their home, many decide to sell it for profit, rent it out, or live there to take advantage of its increased value.
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