The death of a loved one can be a difficult time. When both your parents pass away, you also have to deal with their assets and debts on top of the emotional turmoil their passing brings. But the sooner you handle their property, the faster you can move onto the next chapter of your life and reduce having to deal with the legal minutiae and associated costs of being the new owner of their property.

If your parents have left behind assets and property, you may have found yourself inherited a home in Oceanside, CA. Once the house has undergone probate, you may wonder what you can do with the property. Here are a few options you can consider.

Move Into The Property

Your first option is to move into your newly inherited property. If you never moved out of your parents’ home, you can continue to live in the property as long as you don’t have any co-inheritors for the property. But for those who live elsewhere, this might be a good choice if you’re renting and want to reduce costs or get a change of scenery and live in a laid-back beachy community with the charming small-town feel.

Oceanside is a great place to live, so taking the opportunity to move into your inherited property can be a good move. The city is great for those who love outdoor activities, especially along the beach. Career-wise, it’s close to cities like Los Angeles and San Diego, so you have access to many job opportunities. If you’re looking to start a family, living in Oceanside gives you access to good school districts and other family-friendly spots.

Rent Out The Property

There are a number of reasons to move to Oceanside. But if you are already established elsewhere and do not want to move to your parents’ home, you can always rent out the property. Demand for properties in Oceanside is high, so there’s a good chance that you’ll find people looking to move into your inherited property. Rather than just letting your inherited property sit there, you can let it give you passive income by renting it out.

This, however, comes with some drawbacks. First, before you can make money off the property, you might have to do renovations and repairs before the property is in a good state to rent out. You’ll also have to sort through and move out your parents’ belongings. And unless you’ve had experience managing rental properties in the past, this can be difficult to manage as landlords have many responsibilities to handle. If you live far away from the property, this can be even more difficult without a professional property manager, which can cost a chunk of your rental income to hire.

Sell Your Property

Unless you’re planning on keeping the property as something like a summer house you and your family can go to during a holiday, there’s really no point in keeping the property if you won’t move into or rent out the property. Not only does the house just sit there, but as the owner, you’re responsible for paying taxes and upkeep for a house you don’t even live in. That’s why, if the first two options are not possible, you may want to consider selling your inherited property.

The average house in Oceanside, California is $721,000. Rather than sitting on a house you’re not going to use, you can use the money from selling the property to better use for your future or your family’s best interests. However, a house in California takes an average of 77 days to sell on the real estate market. This means you may have to deal with the sale of the house for two months, on top of the costs of listing and selling your home on the market, which can be time and resources you do not have.

Need More Info?

At Ignite Property Solutions, we understand the need for heirs to sell their homes fast. That’s why our professional homebuying process takes out all the hidden costs and long times of selling on the real estate market. We buy houses in Oceanside, CA as-is, so there’s no need to spend on renovations and repairs to get a fair cash offer from us. Simply schedule a property viewing and we’ll give you a fair all-cash offer in 72 hours or less. After you accept, we can close escrow and transfer your money to you in as little as 14 days. It’s a fraction of time and resources spent to sell compared to listing your property on the market.

Contact Ignite Property Solutions today to learn more.