We have 4 kids, hopefully they will be in their 60s when we pass. I assume they will have their own homes and be close to paying it off. Why would they keep our house?
(We have 4 kids)
Man, I got 5 kids to feed!
Maybe 4...
Man I ain’t even got any kids
It could be a case of family heritage. My brother just inherited the family homestead. The land was purchased in the late 1700s (from the Holland Land Company, IIRC). The house was built in 1830. He wants to keep it in the family, as we all do.
But it’s in NEW YORK STATE, and property taxes are ridiculous. He may not afford to be able to keep it and pass it down to one of his sons.