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Originally posted by donkeystyle
reply to post by graphuto
Live in it, treat it like the golden opportunity it is. Fix it up yourself, don't pay others. Keep it well maintained. Get a better job, bam , set for the rest of your life.
Originally posted by TheMaverick
reply to post by graphuto
modernize it,on a set budget...even if it's just a lick of paint....sell it,buy a cheap one bed flat,and pay off all outstanding debts..and whats left,spend on putting some comforts in the new flat..
i like hearing these story's,were you have to make ends meet all your life,and then get a little break in life...
goodluck,and i'm happy for you.
Originally posted by Myendica
Is the house already paid off?
if so, where do you live presently? a house or do you rent?
if you already own a house, and this one inherited is paid off, I would seel the one you are in. If you rent, same thing. I would make the decision that involves spending the least. If you live in a house and its paid for, then decide which is better and sell the other. or keep both. make your decision wisely.
Originally posted by bandito
Don't go paying debts for a fiancee . You'll regret that once she's well educated and moves on . This is your shot , treat it like that , no one elses . If the house is where you don't want to live , sell it and sit on the cash . No rush to spend it . More than likely you'll never run into 60 grand again . Possibly a healthy down payment some time in the future on another house you want , in the location you want . If a fiancee becomes a wife some time in the future , maybe but don't do anything dumb right away . Don't go buying trucks or cars or any other bs right now either . In 4 years they'll be worth nothing and a good part of your 60 grand is gone . 60 grand can be your margin of safety if the economy keeps tanking some time in the future . You may find an investment , fund a pension plan , pay for health care , start a business or a host of other things down the road some time and if you blow the money you're right back where you are now . If your fiancee is being educated in an area of demand , can find employment upon graduating , becomes your wife and can contribute , only then consider paying her debt and not before then . When that day comes and your combined income will pay a loan , take a loan on good terms to pay her debt and keep your 60 grand . Money is cheap right now , interest rates are very low and if both of you can pay a loan , that's the way to do it because the odds are , even with a combined income you'll never be able to save 60 grand again . A couple of grand to get her back in school , ok , but you'd have to have rocks in your head to pay 27 grand in debt that you didn't accumulate and wipe out half of an inheritance that you'll never get again . 50% of marriages end in divorce and you aren't even married yet .