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Updated over 5 years ago,
House in Moscow - to sell or not? Market analysis?
Does anyone have any links to resources for analyzing foreign real estate markets?
My father-in-law built a house in a suburb of Moscow. My wife inherited the house and has no intention whatsoever of living in Russia (they're Russian-Latvians). We live in NYC. My MIL wants to sell the house. My wife thinks she should hold onto it because it could increase in value. It's surely also partially sentimental.
It's a nice 2 bedroom, 2-story house in a summer-house-style community (one of the nicest in the neighborhood). It has hardwood floors and wood paneling throughout. It has a nice sized garden with two garden sheds. The exterior is finished but he didn't manage to finish the bathroom or the kitchen or even put in the septic tank or connect water to the house before he passed away. It has a temporary kitchen.
I personally agree with my MIL that it's better to just sell it because it's already been so much trouble getting the inheritance settled and it seems it's going to be a pain to deal with from a distance.
Does anyone have any experience with foreign properties or any resources to analyze foreign markets?
Thanks so much!