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Eldercare
Reply to "Would you charge your parents rent to live in in-law suite?"
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[quote=Anonymous]I know of a family where the grandparents bought a house with the son and DIL. All 4 people were equal owners of the house. Both couples paid into the common cost of the house (utilities, food costs etc). Eventually, the younger couple bought out the parents for market price and now the parents pay them a much reduced rent and smaller share of food and utilities. The younger couple had two kids and take more space and use up more stuff. So now what the older couple are now paying is in keeping with what they actually use. Initial pooling of resources enabled them to buy a huge house in an expensive neighborhood which they could not have been able to afford on their own. The older couple used the lump sum of their share of the house in providing for their other son and DIL too and so the second son also has been able to afford a good house in an expensive neighborhood. A good lesson in how wealth is created for future generations. [/quote]
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