The death of a loved one is a difficult time, and inheriting a property can bring additional emotional and practical challenges. We support you in making the best possible decisions.
The valuation of your property plays an important role in clearly understanding your options and making the right decision. This valuation provides you with a solid basis for your financial planning and allows you to better weigh up whether selling, renting, or owner-occupancy is the best option for you.
An inherited property can be a significant financial burden, especially if you do not have sufficient funds to cover the running costs. It is therefore important to be honest with yourself and consider whether you can afford the property in the long term. If this is not the case, selling it could be a sensible option.
Is it worth selling my inherited property?
Regardless of whether you decide to sell or not, you should consider the possibility of carrying out modernization work.
In many cases, inherited properties have been home to their residents for a very long time and no longer meet current standards. This long period of use can lead to a gradual loss of value and reduce the property's appeal to potential buyers or tenants.
Furthermore, modernization is not only about increasing the material value, but also about improving the quality of life of its occupants. A contemporary bathroom or an energy-efficient heating system can not only increase comfort, but also reduce operating costs and thus bring long-term savings.
Such targeted improvements can not only maintain the current market value of your property, but possibly even increase it.
Would you like to know what your property is worth at the moment?
Use our free online valuation tool for an initial estimate. We are happy to advise you on modernization options and value-enhancing measures.
Inherited property and life planning—what next?
If you know the exact value of your property, you have everything you need to make a decision:
- Would you like to live in this property?
Can you imagine making the property your new home? Think about the location—is it perfect for your needs? Is the property big enough? Consider the layout and amenities—do they suit your lifestyle and preferences? - Renting out the property?
Perhaps you are considering using the property as a source of income? Check the demand for rental properties in your region – could you strike a chord here? Consider whether the property meets the requirements of potential tenants. Imagine how your future tenant would use the rooms. Can the property meet their needs and at the same time offer you a reasonable return? - Sell the property?
Or would you rather convert the property into cash? Think about the relief from ongoing costs and how you could use the freed-up capital. Selling the property could give you financial flexibility.
Special case: Real estate in a community of heirs
Reaching a joint decision within a community of heirs on what to do with inherited property can be challenging.
The different interests, needs, and ideas of the individual heirs must be taken into account and balanced. This requires open communication and the ability to find solutions together that are acceptable to all parties involved.
From using it as a shared vacation home to selling it and dividing the proceeds, there are numerous options that can be carefully weighed.
It is important that all heirs are able to express their concerns and wishes in order to reach a viable decision that is not only legally but also emotionally satisfactory.
Our experts are here to guide you through this process and ensure that your interests are protected as you plan the next steps for the inherited property together.
Your property in the best hands – get advice now
As experienced real estate experts, we support you in finding the best possible solution for your needs, whether it's renovating and using it as a new home, renting it out to secure additional income, or selling it to ease your financial burden and start afresh.
Feel free to contact us without obligation; we look forward to getting to know you.
