inheiriting a house at a young age

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oilpainting

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hi,i have recently inheirited my grandparents home with a sister,we are in our late 20s and the house is looking to sell for around 1mil.... we have to pay around 90,000 inheiritance tax EACH... we are not from wealthy backrounds and we are recent graduates-both work in the arts and have not got a steady income so it will come as a big change for us.... we both have partners who have steady incomes .... im wondering what i should do with my half when i prob come out with 400,000-im wanting to be smart about my options and im thinking buying a house is the best option -my boyfriend just bought a 2bed apt,we are paying a morgage on..... any smart suggestions for young people in this situation who are trying to get our heads around it and not wanting to waist a penny of it being so young.....i feel blessed by the way for this gift.
 
oilpainting said:
hi,i have recently inheirited my grandparents home with a sister,we are in our late 20s and the house is looking to sell for around 1mil.... we have to pay around 90,000 inheiritance tax EACH... we are not from wealthy backrounds and we are recent graduates-both work in the arts and have not got a steady income so it will come as a big change for us.... we both have partners who have steady incomes .... im wondering what i should do with my half when i prob come out with 400,000-im wanting to be smart about my options and im thinking buying a house is the best option -my boyfriend just bought a 2bed apt,we are paying a morgage on..... any smart suggestions for young people in this situation who are trying to get our heads around it and not wanting to waist a penny of it being so young.....i feel blessed by the way for this gift.
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This thread may give you some ideas

http://www.askaboutmoney.com/showthread.php?t=6697&highlight=%80400k
 
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