What to Do With an Inherited House in Monument
Keep it, rent it, or sell it. Understanding your options helps you decide.
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Your Options
Option 1: Keep
Monument is a desirable location with excellent schools and mountain views. If the location works for you, keeping the property might make sense. Consider ongoing costs and whether you can afford to maintain it.
Option 2: Rent
Monument has rental demand, particularly for families seeking quality schools. However, many communities have HOAs that may restrict rentals, and higher-end properties can take longer to rent. Property management adds cost.
Option 3: Sell
Selling provides immediate cash and eliminates ongoing costs and responsibilities. This is often the best choice for out-of-state heirs or when multiple family members inherit.
Why Selling Is Often the Best Option
- -No ongoing HOA fees, property taxes, or maintenance costs
- -Immediate cash distribution among heirs
- -No need to navigate HOA rental restrictions
- -Avoid potential family disputes over property decisions
- -Clean break to move forward after a difficult time
Monument Inherited Property Options FAQs
Monument has rental demand due to excellent schools and quality of life. However, higher-end properties can be harder to rent, and HOA restrictions may limit options. Consider your capacity to manage a rental from afar.
Monument properties often have higher carrying costs including property taxes, HOA fees (many communities), insurance, and maintenance. Budget $600-$1,200+ monthly depending on the property.
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Related: Sell Inherited House | Probate House Sale