Selling Childhood Home

[Anonymous]

Your parents bought the house they wanted, presumably they didn't move into your grandparents house. You are not obligated in any way. You can have an artist make a beautiful picture of the house, video the interior, hold a party to have one last great memory ( a friend did this before selling his childhood house and it was fantastic) but then let it go.

[Anonymous]

It sounds like you like your own house better, is that correct? If so, I would just stay there. It’s sad to sell your childhood home but at the end of the day it is just a house. Unless you want to live there more than your current house, or unless for some reason you want to be a landlord, I would rent it out.

[Anonymous]

Anonymous wrote:It sounds like you like your own house better, is that correct? If so, I would just stay there. It’s sad to sell your childhood home but at the end of the day it is just a house. Unless you want to live there more than your current house, or unless for some reason you want to be a landlord, I would rent it out.

I meant to say as my last phrase I would sell it

[Anonymous]

Sell it, The market is a dream for sellers and you are looking at paying taxes due to the loss of the stepped up basis soon-get under before the tax code changes. Sell the house, before you do take pictures of it for your memories.

[Anonymous]

How easy would it be for OP to rent it out? OP says that it "needs a lot of updates."
Where is the house, OP (DC? MD? VA?) Have you looked at tenant laws in your jurisdiction and are you prepared to abide by them if you get a terrible renter?

[Anonymous]

It's a seller's market right now and it's probably a bubble, although nobody wants to admit it. If you want to get top dollar for it, now is the time. Interest rates will rise in the future and the appreciation party will be over.

On the other hand, how busy is the road? You're single at this time, but do you envision a family in the future? What kind of community does your parent's house have? Can you envision yourself raising a family in that home?

If you think you can let it go now, do cosmetic improvements such as deep, deep cleaning, inside/outside painting, carpet replacement, floor refinishing and landscape clean-up. If your parents kept it up, don't worry that it needs updates. Let the buyer make that choice.

[Anonymous]

Stay in your house! You obviously love it. Don't get caught up in the trap of being overly sentimental about the past. - I say this because I am in my 40s and my parents recently sold their house and I know how hard this is! I very fleetingly considered buying it, but that made no sense, and was just about wanting to hold on to something that doesnt exist anymore.

Even if a "flipper" buys the house, don't view it as negative. View it as positive. They would update and fix the house up so that someone who really loves it can buy it. Then the house can be loved by someone new.

Let the house go.