Get a house you can afford on your own and stop leeching off your mom (and the other grandparents from the sound of things). At your income you should be able to easily afford a place with room for Grandma without taking advantage of her. Even if she “insists”.

Anonymous wrote:Dual Income: $450-$475K
2 kids in private school: $70K
Net worth $3M (excluding $$ for down payment) and kid's 529s will be fully funded by their grandparents - maximum gift contributions.
25% down on a 1.8M house
We're 40.

The mortgage will be $7K/month, but my mother will be living with us and contributing in approximately $2-$2.5K in rent.

Sure you have grandparents help

Anonymous wrote:That seems like a really unstable setup. What happens when your mom needs a different living situation?

seems like they could still afford the payment if the mom stops paying her share

That seems like a really unstable setup. What happens when your mom needs a different living situation?

Anonymous wrote:

Anonymous wrote:Dual Income: $450-$475K
2 kids in private school: $70K
Net worth $3M (excluding $$ for down payment) and kid's 529s will be fully funded by their grandparents - maximum gift contributions.
25% down on a 1.8M house
We're 40.

The mortgage will be $7K/month, but my mother will be living with us and contributing in approximately $2-$2.5K in rent.

Seriously, you should not be charging your mom.

Get off OP's back. Parents WANT to help their kids. (Don't you?)
Mom's probably thrilled that OP is letting her move in and money is a small price to pay for that level of comfort.

Anonymous wrote:Dual Income: $450-$475K
2 kids in private school: $70K
Net worth $3M (excluding $$ for down payment) and kid's 529s will be fully funded by their grandparents - maximum gift contributions.
25% down on a 1.8M house
We're 40.

The mortgage will be $7K/month, but my mother will be living with us and contributing in approximately $2-$2.5K in rent.

Seriously, you should not be charging your mom.

How healthy is your mom? If she had to pay for assisted living or a full time aide could she still help you with your mortgage

Anonymous wrote:

Anonymous wrote:Dual Income: $450-$475K
2 kids in private school: $70K
Net worth $3M (excluding $$ for down payment) and kid's 529s will be fully funded by their grandparents - maximum gift contributions.
25% down on a 1.8M house
We're 40.

The mortgage will be $7K/month, but my mother will be living with us and contributing in approximately $2-$2.5K in rent.

Sure sounds like you have strong family support in case things go bad

Yes. We are extremely fortunate to have strong family support.

OP: There's nothing nefarious going on. The house move is prompted by an aging parent situation. And will she be helping us via "rent"? Yes. Did we ask for it? No, but I'm nonetheless very grateful for it.

Usually DCUM is pretty conservative with spending, such as choosing between the house and private school tuition or needing to have $$$ to retire.

I wouldn't ever consider such a big house spend if it wasn't for this specific situation.

A sincere thank you for those who responded.

Anonymous wrote:Dual Income: $450-$475K
2 kids in private school: $70K
Net worth $3M (excluding $$ for down payment) and kid's 529s will be fully funded by their grandparents - maximum gift contributions.
25% down on a 1.8M house
We're 40.

The mortgage will be $7K/month, but my mother will be living with us and contributing in approximately $2-$2.5K in rent.

Sure sounds like you have strong family support in case things go bad

Anonymous wrote:Yes. You are charging your mom?

And the rent's not cheap, lol. OP, why are you fleecing your mom?

Yes. You are charging your mom?

Yes you can.

Lol. As these threads go, this one has only a few Easter eggs, but they are good ones (the mom paying rent is my favorite).

Dual Income: $450-$475K
2 kids in private school: $70K
Net worth $3M (excluding $$ for down payment) and kid's 529s will be fully funded by their grandparents - maximum gift contributions.
25% down on a 1.8M house
We're 40.

The mortgage will be $7K/month, but my mother will be living with us and contributing in approximately $2-$2.5K in rent.