What if I used my inheritance to buy a home?
Randy
Not knowing your age, how much you received, or any other factors, I'd say Yes! Using your inheritance to buy a home, especially if you can buy the home outright, can give you a sense of security you can't get any other way. If your house is paid for, you can weather a lot of financial storms. A house is usually a person's best investment, too.
On the cautionary side, make sure you have enough money left over to keep up with the property taxes and maintenance. Don't overbuy. It costs a lot to heat and maintain a large house. Check out the property taxes - on a fancy house they can cost more per month than rent on the average apartment! Remember, some people on TV who receive free houses end up losing them because they can't keep up with expenses.
Buying a home is a great idea. Good luck!