First and foremost, we’re very sorry for your loss. Inheriting a home often comes during an emotional and overwhelming time. On top of grief, you may suddenly find yourself asking practical (and stressful) questions like:
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“I inherited a house—what should I do?”
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“Should I sell or keep this inherited house in Somerville, MA?”
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“What are my options, and what makes the most sense financially?”
If you’re feeling unsure, you’re not alone. We speak with homeowners in Somerville, MA every month who have inherited a property and aren’t sure what their next move should be.
The good news? You have options, and with the correct information, you can make a confident, informed decision.
Table of Contents
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Understanding What It Means to Inherit a House
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I Inherited a House — What Should I Do First?
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Option 1: Keep the Inherited House and Live in It
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Option 2: Rent the Inherited House in Somerville, MA
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Option 3: Sell the Inherited House
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Key Considerations Before Making a Decision
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Mortgage & Liens
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Property Management
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Repairs & Maintenance
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Selling Costs
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Market Conditions in Somerville, MA
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Taxes & Legal Considerations
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Comparing Your Options Side by Side
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How We Help Homeowners With an Inherited House in Somerville, MA
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Frequently Asked Questions
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Final Thoughts
Understanding What It Means to Inherit a House
When you inherit a house, you’re not just inheriting a building — you’re inheriting responsibility. That includes:
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The mortgage (if there is one)
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Property taxes
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Insurance
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Maintenance and repairs
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Legal and tax considerations
For many people, the question quickly becomes:
“Inherited house — what should I do to avoid stress and financial mistakes?”
Let’s walk through your options step by step.
I Inherited a House — What Should I Do First?
Before making any big decisions, start with these essentials:
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Confirm ownership (through probate or trust documentation)
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Find out if there’s a mortgage, lien, or unpaid taxes
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Understand the current condition of the home
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Learn the approximate market value in Somerville, MA
Once you have this information, you can decide whether to keep, rent, or sell the inherited house.
Option 1: Keep the Inherited House and Live in It
Some heirs choose to move into the inherited home, especially if it’s already located in Somerville, MA, where housing demand remains strong.
Pros:
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Avoid selling costs
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Potentially lower housing expenses
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Emotional connection to the property
Cons:
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Ongoing maintenance and repairs
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Property taxes in Somerville can be high
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May require renovations before move-in
This option works best if the house is in livable condition and fits your lifestyle.
Option 2: Rent the Inherited House in Somerville, MA
Renting can be a great long-term wealth strategy — if you’re prepared.
Key Question:
Is the property cash-flow positive after expenses?
Things to consider:
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Mortgage payments
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Property taxes
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Insurance
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Maintenance and repairs
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Property management fees
The Reality of Being a Landlord
The saying is true: the investment is only as good as the manager. If handling tenants, maintenance calls, and legal compliance isn’t something you want to deal with, being a landlord may become stressful quickly.
Hiring a professional property manager can help — but it will reduce your monthly profit.
Option 3: Sell the Inherited House
Many homeowners decide to sell an inherited house in Somerville, MA to simplify their lives and unlock equity.
You Have Two Main Selling Paths:
1. Sell on the Open Market
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Higher potential sale price
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Requires repairs, cleaning, staging, and showings
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Realtor commissions and closing costs apply
2. Sell As-Is for Cash
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No repairs required
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No showings
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Faster closing timeline
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Less stress during an already difficult time
For inherited homes that need work, selling as-is is often the easiest solution.
Key Considerations Before Making a Decision
1. Make Sure the Mortgage Is Paid
If the inherited house has a mortgage, it must be addressed. Some lenders allow heirs to assume the loan, while others require refinancing.
If you don’t qualify for refinancing, renting or keeping the home may not be an option.
2. Property Ownership Costs Money
Most inherited houses are not move-in ready. Deferred maintenance is common, especially if the previous owner lived in the home for many years.
A professional inspection can help you understand:
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Roof condition
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Plumbing and electrical issues
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Foundation concerns
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HVAC lifespan
Unexpected repairs can cost tens of thousands of dollars.
3. Selling for Top Dollar Isn’t Free
To get the highest possible price, sellers often need to invest in:
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Repairs
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Updates
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Landscaping
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Cleaning and staging
If that’s not something you want to manage, selling as-is may be the better option.
4. Somerville, MA Market Conditions Matter
Somerville, MA continues to be a desirable market due to:
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Proximity to Boston
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Strong rental demand
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Limited housing inventory
If property values are rising and you don’t need immediate cash, holding the property could make sense.
5. Taxes and Legal Implications
Uncle Sam always wants a piece of the action.
Before making a decision, speak with a tax professional about:
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Property taxes
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Income tax from rentals
One conversation can save you thousands.
Comparing Your Options Side by Side
When deciding what to do with an inherited house in Somerville, MA, it helps to compare:
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Selling as-is today
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Selling after repairs
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Renting long-term
A clear comparison often makes the right choice obvious.
How We Help With Inherited Houses in Somerville, MA
We’re experienced real estate investors who specialize in helping homeowners navigate inherited house situations in Somerville, MA.
We can help you:
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Understand your property’s current value
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Compare selling vs. renting scenarios
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Sell the house as-is for cash
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Avoid costly repairs and long timelines
Our goal is to educate first — not pressure you.
Frequently Asked Questions
What should I do if I inherited a house in Somerville, MA?
Start by confirming ownership, checking for a mortgage, and understanding the property’s condition. From there, decide whether to sell, rent, or keep the home based on your financial and personal goals.
Do I have to sell an inherited house?
No. You can keep it, rent it, or sell it. The best option depends on your finances, the property condition, and your long-term plans.
Can I sell an inherited house as-is?
Yes. Many homeowners choose to sell inherited houses as-is to avoid repairs, cleaning, and stress.
Do I pay taxes when selling an inherited house?
Possibly. Inherited properties often receive a step-up in basis, which can reduce capital gains taxes, but you should always consult a tax professional.
Is Somerville, MA a good place to keep an inherited rental property?
Somerville has strong rental demand, but being a landlord comes with responsibilities. Make sure the numbers work after expenses.
Final Thoughts
Inheriting a house in Somerville, MA can feel overwhelming — but it doesn’t have to be. Whether you’re asking “I inherited a house, what should I do?” or simply looking for clarity, the key is understanding all your options.
Take your time, gather information, and don’t be afraid to ask for help. With the proper guidance, you can turn an inherited house into an opportunity rather than a burden.
If you’d like help evaluating your inherited property in Somerville, MA, we’re always happy to walk you through your options — no pressure, just honest answers.