Quote from: Ruthful on January 02, 2015, 09:40:35 AM

Quote from: picolo on January 01, 2015, 09:30:35 PM

Except a property will cost you money to maintain and taxes

Unless there are very select cases (that property situated in a disaster prone area e.g) , it is highly doubtful that the annual maintenance cost and taxes exceeds its value appreciation .Of course,I could be wrong as I don't really know the detail concerning the house in question.

The OP inherited the house from his father before he died, so his father might have lived in it for 50+ years. For all we know the house might be 100+ years old. When a house gets beyond a certain age it's often cheaper to knock it down and build a new one than fixing it.

If the OP had kept the house for another decade it might have only been fit for the wrecking ball.