Parent Died & Have To Move Out Of House

[Jason Freets]

Hi Everyone,

My parents are divorced and I was living with my mother, in California, when she passed away. It was an unexpected death and so everything is going through probate since there is no will.

Because I have siblings, the house will get split three ways with my siblings. And, because it will be too difficult for all of us to live together in one house, the decision is to rent the house out so we have a positive cash flow to live somewhere else.

It's been a very painful and difficult process so far and I am trying to figure out what to do with myself? So I own 1/3 of a house and will also receive inheritance money (possibly $100,000 approximately).

I am wondering what to do with my living situation? Should I rent a place somewhere? Should I buy a condominium? Should I look into a town home? Should I try to buy a house? Since prices are low in the housing, I am considering a condominium at the moment since they are cheaper to buy. But then again, I hear it's a good time to buy a house since prices have fallen a lot. How should I look at this?

Look forward to feedback ...

Jason