Following the passing of a loved one, you might find that they’ve left behind property in Oceanside, CA in your name. If their will has passed probate and there are no other claimants or co-inheritors to the property, then you’re free to do whatever you want to the property as the sole owner.
However, you might be wondering what your practical options are for your inherited property in Oceanside. If you’re not sure what to do with your new home, here are some suggestions to help you make the most out of your newly-owned property.
Live in Oceanside
Located just an hour away from San Diego, Oceanside features stunning waterfront views, outdoor activities, and a promise of a lifestyle that many dream of. Your home in Oceanside can make the perfect summer home that you and your family. Or, if you’re renting or living in another area, you could opt to relocate to Oceanside and enjoy this idyllic community.
Keep in mind, however, that as a homeowner, you’ll be responsible for the upkeep, maintenance, and property taxes that come with the home. If you’re not in a financial position to keep the home, your next best option is to either use it to generate income that you can use to maintain the property or sell.
Lease Your Oceanside Home
Oceanside offers plenty of activities and experiences that many will want to live there for long periods of time. You can rent out your property to those who want to live in an area like Oceanside. Rent in the city can range from $2,300 to $2,500 for a one-bedroom apartment.
Leasing out your property, however, comes with the responsibility of being a landlord. While you reap the income of the property, you’ll also have to deal with the tasks of leasing the property, screening tenants, and ensuring the property is in livable condition. You’ll also have to deal with the risk of handling bad tenants. If you want to minimize the work of being a landlord, you can hire a property manager, but this means taking up a portion of what you stand to gain from a lease.
List Your House for Vacation Rentals
Oceanside is also a popular tourist destination as a resort town for those who want a beachside vacation. Aside from leasing, you could list your property for short-term stays. You can do this by starting your own business website, or you can list your property on platforms like Airbnb.
However, this can have its setbacks. For starters, it’s highly likely that most of your guests will book for the summer. Unless you pay someone to manage the property, you’ll have to deal with tasks like clean-up and dealing with your guests’ needs. Also, expect off-season times certain times of the year when you have fewer bookings, so it’s not a guaranteed or staple source of income compared to leases.
Sell Your Oceanside Home
If owning a home isn’t feasible for you financially and you don’t want to deal with the challenges of being a landlord, the most practical thing you can do is to sell your Oceanside house fast. This allows you to benefit from the cash you can get from the sale to put it to better use, while also getting rid of the responsibilities of owning property as soon as possible.
Listing your property on the real estate market can be tricky because it will take time. The average house in California takes 33 days to get an offer and then another 45 days to close. If you want to sell your house fast, your best option is to deal with a professional cash home buyer that you can directly sell to for a fair cash offer.
Need More Info?
Not everyone knows what to do with newly inherited property. If owning property isn’t a financially sound option yet and renting can be tedious, your best solution is to sell to a cash home buyer you can trust.
At Ignite Property Solutions, we buy houses in Oceanside, CA and provide convenient solutions for homeowners. Get an offer within 72 after your scheduled property viewing and then close the deal in as little as 14 days after accepting our fair all-cash offer.
Get in touch with us today to learn more about our home buying services.
