Reply to SO: Thoughts on sister and her DH buying a house with my mother?

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Reply to "SO: Thoughts on sister and her DH buying a house with my mother?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would probably consider having mom sell the current apartment once she's sure she no longer wants to live there and then paying rent to sister and her husband to allow them to afford a larger apartment, if the goal is for mom to live with sister and her husband. No downpayment assistance, though.

Assuming this is an apartment that is paid off except for the monthly fees, though, it's also worth considering whether it's cheaper for her to stay there and have someone to help with the various upkeep tasks. It may well be.[/quote]

This.  Your mother needs her assets to be accessible for her own needs, including long term care.  If she needs a nursing home it will be a disaster to have her money tied up in a house.

I think the posters attacking OP are ridiculous.  Why should a 70 year old need to subsidize this purchase for her child when she doesn’t have money for herself.  [/quote]

Because said child will then be providing housing and care for the mother in the city that mother wishes to reside.  Who knows exactly what mom’s “modest” pension is, our source of information is a bit biased.[/quote]

DP. I suspect that the minute mom's care gets too hard, sister will want her in assisted living but will expect OP to share the costs. Sister sounds pretty greedy to me. OPs mom would be better off selling the apartment when the time comes, but keeping the proceeds to help.her in her old.age, not to subsidize an adult child.[/quote]

100+ [/quote]

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