the day i realized my parents’ house could cost me money
When my parents said, “One day this house will be yours,” I thought they were giving me a gift.
Turns out, they were also handing me a financial puzzle.
Their home is fully paid off, but it’s 40 years old. The roof leaks in heavy rain. The heating system is older than I am.
I did the math — just keeping it livable could cost $20k in the next 5 years.↳
That’s when I learned about inherited money traps.
Not every asset is truly an asset if it drains more than it gives.
So I sat down with my parents, and we made a plan:
If I want to keep it, I start a “house fund” now.
If I sell, we look at tax implications ahead of time.
We document everything so there’s no drama later.
The lesson? Don’t just accept an inheritance with a smile.
Understand the costs, the taxes, and the maintenance before you decide it’s a blessing.
Sometimes, making money starts with not losing it.
#Finance #MakeMoney #FamilyWealth #SmartMoneyMoves
