Taxed and Spent wrote:
>penmart01 wrote:
>> lucretiaborgia wrote:
>>>
>>> The only difference between John and you is that you inherited your
>>> house and he has to buy it - think about it!
>>
>> Nothing to think about... inheriting a house and buying a house with
>> inherited money are exactly the same.
>
>Except for the concept of CHOICE. Duh.

Both the same... buying/selling real estate are equally convoluted.
One can always sell the inherited property and use the cash to buy one
of their liking, or buy nothing and place the money in the piggy bank
of choice. Inherited is Inherited, regardless how twisted they are
the same. Duh!

Actually by inheriting cash John is in a much better position. I
would advise John to contemplate for at least two years before
spending his inheritance... spend time and energy looking at other
properties.
I would've also advised Jill to contemplate at least two years before
deciding to move into her inherited house, making sure she can
comfortably handle the finanacial aspects and if she truly needed to
support all that space plus attached expenses.... to me it seems like
way too much for a person on their own.

Being faced with both scenerios I'd have purchased different
properties. A single who doeasn't play golf doesn't need the expense
of living in a huge house on a golf course... and a single doesn't
need the responsibility of being the landlord of a student's rooming
house. Both scenarios will eventually place both in the poor house.