Inheriting a property in Atlanta comes with unexpected costs and hard decisions along with the benefit of having a new home that you own. You might feel a mix of emotions—sadness, stress over money, and even some pressure from family members. Inheriting a property in Atlanta can be complicated, especially if the house has a lot of clutter from hoarding or hasn’t been kept up. Here’s a look at the costs you might face with an inherited property in Atlanta so you can decide what’s best for you.
Tax Costs
When you inherit a house, the property taxes will become your responsibility. This is the yearly tax you pay to keep the property. Property taxes can vary depending on where the house is, and they may be high. There might also be estate taxes or inheritance taxes, depending on state rules. You may even have to pay a tax on the increase in value if you sell the house. Knowing about these taxes ahead of time can help you plan and avoid surprises. If you’re inheriting a property in Atlanta, it would be wise to reach out to a certified tax accountant and a lawyer to better understand what you can expect to pay.
Utility Bills
Even if no one is living in the home, you’ll still need to keep the lights on, and maybe the water and gas, too. These bills can add up each month, which is why some people who inherit a house look to sell it quickly. If you don’t plan to live there or rent it out, paying utilities on an empty house may not make sense. Selling quickly can help you avoid paying for things you don’t need. If all esle fails, try and rent it out for a shorter amount of time to keep the lights on while you decide what your end goal will be.
Cleanup, Maintenance, and Repair Costs – Especially for Hoarder Homes
Maintaining a house costs money, but if you’ve inherited a “hoarder house” (one filled with a lot of clutter and items), cleanup can be a big, expensive project. Clearing out a hoarder house can cost anywhere from $1,000 to $5,000 or more, depending on how much stuff is inside. You might need to hire junk removal services, cleaners, and even people who handle hazardous materials. This can take weeks or even months and will cost money and time.
Plus, if the home has any damage, you might need to pay for repairs to make it safe. Even if the house is in decent shape, there will still be regular costs, like mowing the lawn or keeping the house clean. Inheriting a property in Atlanta may feel like a big gift, but if it comes with a lot of this sort of baggage, you can be looking at a real uphill climb. It’s best to really get into the home once it’s been inherited to see what will need to happen if you want to keep or sell the home.
Family Disagreements and Legal Costs
Sometimes, inheriting a house can lead to family disagreements. If you have siblings or others who also have a claim on the home, arguments can happen. Family members may disagree on what to do with the property, which can lead to extra legal costs. A quick sale and dividing the profit can often solve these issues so families can avoid long legal battles.
Selling Costs
If you decide to sell the house, there are also costs involved, such as paying a real estate agent, closing costs, and making any needed repairs. For a hoarder house, it may cost even more to clean and make it ready for sale. Selling directly to ATL Cash Home Buyers can help you skip these extra steps and costs, making it easier to sell without waiting.
How ATL Cash Home Buyers Can Help
If you have questions about inheriting a property in Atlanta (or even what to do with a hoarder house that you’ve inherited!), ATL Cash Home Buyers is here to help. We understand that this might be a hard time, and we’re here to give you clear information so you can decide what’s best for you. We won’t push you into a deal; we’ll simply share the facts and options.
Owning an inherited property in Atlanta can come with costs and work you may not have expected. ATL Cash Home Buyers is experienced in helping people sell homes quickly and easily. By selling to us, you won’t have to worry about cleanup, repairs, or extra costs. Call us today to learn how we can help with your inherited home in Atlanta. 404-439-9984
