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Inheritance coming…Buy now or later?

I just found a house I love in my dream neighborhood. Only $325K (it needs some work, but I’d be happy to take that on). I currently qualify for a mortgage and have enough cash for a 20% down payment.

I’m eager to buy now, but I just learned that I will be receiving a $130,000 inheritance in 5 or 6 months.

I am trying to determine which path would make the most sense (and if one path would result in me paying more interest in the long run):

  • Buy Now: Purchase this house now with a 20% down payment and then use the inheritance I receive in 6 months to pay off a significant portion of the mortgage.

  • Wait for Inheritance: Wait for the inheritance and use it to make a larger down payment on a different house (this house will be gone).

I currently have a month to month lease, which makes my schedule a bit more flexible. I’d appreciate any advice!

submitted by /u/Acceptable-Turn1805
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1ee1mvm/inheritance_comingbuy_now_or_later/
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