Just observing what you have written about your situation It sounds like a good decision.
I have renovated 2 houses that we eventually moved into. I would not do it again. (I might build, but I would not build big.)
Thank you, Pete. I’ve been agonizing over the decisions and unsure that I’ve made the right choice for the most needy of the heirs. The choices were each receiving $165,000, that could be reduced to as little as $80,000 each if we had a big environmental cleanup, or a sure $130,000 each. I’m going with the sure thing (nothing is in writing yet) because I’m a bean counter and risk adverse by nature. I don’t think I could forgive myself if I cost them $85,000. As the situation stands now, I’ll never know if I cost them $35,000. And one sister might sue me for negligence if I make the choice that ends up cutting her inheritance in half.
I also learned this afternoon that the woman who shares a fence corner with our house actually HAD a small environmental cleanup and she has no basement. That’s proof of some level of contamination and the pollutants on and around her property might very well have found their way to our property. Our house and yard sit higher than both hers and the former gas station when standing on the street, but liquids flow along the path of least resistance. Who knows where any contaminants might be travelling underground?
The reinforcement from posters much more knowledgeable than I am in these areas reassures me that I’m probably making the right decision. Thank you all again!