Reply to Shocked at how many families in nice DMV neighborhoods are living in relatives' homes

Forum Index » Real Estate

Reply to "Shocked at how many families in nice DMV neighborhoods are living in relatives' homes"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Our kid (only-child) just finished kindergarten at a school in an upscale DMV neighborhood.

We've met at least a dozen families at our school who are living in a childhood home or a living in a house own by an elderly parent/relative and "paying rent" (whatever that means)

Though extracurricular activities we've met other families with the same arrangements in Chevy Chase, Bethesda, and upper NW DC. This is, in fact, pretty widespread.

So, if you're slogging away saving for that down payment, paying for child care and wondering "how do all these people do it????"....just know that this is one of the ways you're getting shut out. I'm honestly surprised at how widespread this is happening.

[/quote]

But when those parents/relatives die, the property becomes theirs anyway? So what's the concern?

We moved to this area from middle America and have no generational wealth so I can sort of relate to your "wow everyone is ahead of the race and we worked so hard to get here" sentiment. However, just remember that everyone is trying to provide a better (or the equivalent) life for their kids compared to the childhood they had. That bar is a lot higher for these families who have had parental help in housing or private schools, they are trying to do that for their kids.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics