Women and Property – Advice for Handling Estates, 1878

1878

There can be no question that for women good registered bonds are specially desirable, being less troublesome than any other securities. But it often happens that women inherit real estate, and a few remarks on its management may be useful.

A very wise man of fifty years' experience in taking care of property, especially for women, once said to me: "If a woman is left with a house at all suited to her condition, I always advise her to keep it. A woman with a house of her own — a home — will usually get along even on a very small income; and she and her family, if she has one, will be much happier if they have a home than they could be without it. Without a home of their own, they are usually unsettled and subject to many discomforts."

And so, if a woman inherits other real estate, and it yields her a moderate income, it will scarcely be wise to part with it, especially if it is situated in a village or city that is growing. The mere retention of real estate in these circumstances has made thousands rich. Avoid incurring a debt for the improvement of such property. A lady recently called on me for advice. She inherited $50,000 of real estate, which yielded her a fair income, equal to every want. But not contented, she borrowed money to make costly improvements and to erect new buildings. Now, with the decline of property, her rent roll hardly pays her interest and taxes, and she is liable to heavy losses by foreclosure.

Of course good securities, of whatsoever sort, should be kept, that is, not exchanged for others for the sake of a little hoped-for gain. While it is not wise to carry all one's eggs in one basket, it should be remembered that eggs are liable to break in handling. It is easy to loosen up property, but not easy to re-establish it. — Bazar.