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I own a house with my mother who probably will pass away shortly. We own a house together which has been willed to me in the event of her death. It has a high interest rate, and we never refinanced because we were going to sell, but circumstances prevented that, and we never though we would live in it long enough to recover the cost of refinancing. Anyway, I expect to retire in the next 10yrs. I could take on the house and pay it off by then, but the costof the mortgage and upkeep would probably keep me from doing anything else in the way of serious investing. The house is in a good neighborhood and should only go up in value. At retirement I could stay in it or sell it and get something smaller with less upkeep....Or should I just go ahead and sell it after my mother's death and either rent or buy a smaller house now.
Any advise would be appreciated. I feel I should sell now...just want to know if my instincts are good.
Thanks,
Caprock
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