Inheriting a House in Savannah, Georgia? Here’s What To Do Next
First off, let us say — we’re truly sorry for your loss. Dealing with the passing of a loved one is never easy, and having to make decisions about inherited property on top of everything else can feel overwhelming.
If you’re asking yourself, “I inherited a house in Savannah — what should I do with it?” you’re not alone. This is a common situation, and it’s one that comes with both emotional and financial responsibilities.
Should you sell the house? Should you rent it out? Should you keep it in the family? There are several good options available — but choosing the best one depends on your unique circumstances.
We’re local real estate investors in Savannah, Georgia, and we help people every month who’ve inherited property and aren’t sure what to do next. Below are some important insights to help you navigate the process and make a smart decision for your future.
Inherited a House in Savannah? 8 Key Steps to Help You Decide What to Do
1) Make Sure the Mortgage Is Paid or Handled
If the home still has a mortgage attached, that responsibility doesn’t disappear when the owner passes. As the new heir, you may need to continue the payments or refinance the loan — depending on the lender’s rules.
Some mortgages are assumable, meaning you can take them over without qualifying for a new loan. Others will require you to refinance, which may not always be feasible depending on your financial situation. If mortgage payments are out of reach, selling the home may be your best option to avoid foreclosure.
2) Be Honest About Whether You Can Manage the Property
Owning a rental property can generate passive income — but it also comes with responsibilities like maintenance, tenant management, rent collection, and occasional headaches. If you’re not local to Savannah or don’t want to act as a landlord, consider hiring a property manager or selling the home.
Many people inherit homes with the idea of renting them out, only to find the time and effort more than they bargained for. Know your limits and make the choice that works best for your lifestyle.
3) Expect That the House May Need Repairs
Most inherited houses haven’t been updated in years, especially if the former owner lived there long-term. Even if the home looks good on the surface, you’ll likely face deferred maintenance, code updates, or needed repairs before renting or selling.
Hire a licensed home inspector to assess the property’s condition. A detailed inspection will give you a realistic view of what needs to be fixed — and how much it will cost — before you move forward with any plans.
4) Getting Top Dollar Often Requires Upgrades
If your goal is to sell the property for top market value, be prepared to invest in repairs, painting, staging, landscaping, and marketing. Most buyers today are looking for move-in-ready homes, and they’ll expect the property to shine.
However, if you don’t have the time, budget, or energy to make improvements, that’s okay. We buy inherited homes in Savannah, Georgia as-is — no repairs, cleaning, or agents required. You can sell the house quickly without the stress of preparing it for market.
5) Consider the Long-Term Investment Potential
The real estate market in Savannah is always changing. If the home is in an up-and-coming neighborhood and you can afford to hold onto it, you may want to keep the property as a long-term investment.
We can help you evaluate whether it makes more financial sense to rent, sell, or use the equity for other investments that offer better returns. Every situation is different — and it’s worth taking a strategic look at your options before rushing into a decision.
6) Understand the Tax Implications of Your Inheritance
When you inherit a property, taxes can get complicated. From capital gains and stepped-up basis rules to property tax reassessments and potential estate taxes, there are important financial implications you should be aware of.
Before you sell or rent, speak with a qualified CPA or estate attorney. They’ll help you understand your tax responsibilities and prevent any surprises that could cost you thousands down the line.
7) Explore Creative Options Like Lease-Options
In some cases, you may not have to choose between selling or renting. A lease-option arrangement allows a tenant to rent the property with the option to buy later — giving you cash flow now and the potential for a sale in the future.
These strategies can be complex, but they offer flexibility. As experienced investors in Savannah, we’ve structured lease-options for clients looking to maximize returns while minimizing risk.
8) Compare Your Scenarios Side by Side
What’s the home worth as-is? What would it sell for fully renovated? What kind of cash flow could it generate as a rental? These are the questions you need answered before making your final decision.
We can help you run the numbers so you can clearly compare your options and choose what’s best for your goals — whether it’s a quick cash sale, a renovation-to-sell plan, or long-term passive income through renting.
