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Reply to "Parent Moving Next Door to Child - It's Worth It, Right?"

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[quote=Anonymous]My sister wants my mom to move an hour away from where she currently is to live next door to my sister.  My sister realizes there will be aggravations with this close proximity but thinks it is best as my mom ages.  A house next door to my sister is for sale. It isn't on the market yet and there are two other families in the neighborhood who are interested in having a family member move closer, so even though the house is off market there is still competition for the house.   I think the seller is asking too much.  The 2021 tax assessment was 2/3rds the asking price.  Nothing in that neighborhood has sold for anything near the asking price, according to Zillow (which I realize isn't completely accurate).  But is it worth it to make it easier for my sister and her family to help my mom or even just keep an eye on how things are going with care givers that may be needed eventually?  My sister doesn't want my mom to move into assisted living because she is worried about elder abuse.  They are NOT in the DMV or in a particularly HCOL area.  We are crunching numbers but think my mom will be able to afford the new house WITHOUT a mortgage once she sells her house (currently no mortgage) AND uses $100K in savings.  She has been living on social security but has a pension and retirement accounts she's just been saving RMDs from.  My sister's husband (BIL) has said he's willing to cover any difference to have my mom closer for the convenience factor.  I think that is both practical and generous of him.  They all live over 1,000 miles from me (I'm in the DMV) so I know I will not be doing the day to day as my mom ages.  She's 75 and in good health.

I'm a little concerned about over paying for a house, but anything to make it easier for my sister to help my mom is hard to put a price tag on, right? My mom is talking to me about this and asking my opinion.  So far I've just said I think she should think about where she wants to end up living, how would she feel if my sister moved (not terribly likely, but possible and my sister is further from my mom's medical providers), and asked if this would require a mortgage.  Thank you for any insights from anyone who has BTDT.[/quote]

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