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Reply to "Thoughts on buying a house with my mother.... "
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[quote=Anonymous]My mother is retiring this year and has asked if my husband and I would go in with her to buy a home that has a MIL suite. She no longer wants to live by herself, but she wants to still live in a house with a yard for her dogs. She's going to put down a 65% down payment and we will take out the remaining mortgage. All three of us will be on the deed for the home and the mortgage, but my husband and I would pay the mortgage, taxes, home insurance, and utilities. My mother would basically be living expense free. She said that she would leave my husband and I the house in her will. This is a home that we would not be able to afford purchasing on our own in a very nice area, so I believe it is a good investment. We will also be able to keep the money we will get from selling our current home which will be around 30k. My husband and I get along very well with my mother and I am happy to live with her as long as we both have our own space. I do have siblings though and I just want to make sure the home would go to my husband and I free and clear if anything happened to her. Thoughts and concerns? [/quote]
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