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Reply to "Buying housing for in-laws"
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[quote=Anonymous]My sister did this for my parents, largely because they needed to downsize and didn’t have down payment money until their old house sold. But it’s been a good investment for them. They do go out pretty frequently to manage upkeep on the place, etc. I think the one thing to think about is whether there’s an anticipated end date here — like it might help if yo said this is a 5 year plan or 10 year plan. You can always extend it but you might not want to have them there when they are 85 and can’t really live alone — saying “oh well we did always say we would need to sell the house in 2035” might be a gracious way of moving them to a higher level of care, rather than just evicting them. [/quote]
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