Living with Parents???

My parents currently rent out the basement of our home. They have offered to rent the basement to FH and i once we are married to allow us to save money faster to buy our own home. There is a separate entrance

Keep in mind i have twin 14 year old sisters, who love us to death and would want to be around most of the time..

The stipulation would be that we would pay rent, and be treated like normal tenants.

Question, FH thinks it is not a good idea because he feels we would not have enough privacy. What do you girls think? Living here would allow us to save an extra 700 a month to put toward a home..

I'm thinking this situation would last 6-9 months.. Don't you think we should try it out and see how it goes??

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Posted by LISA6569

YOUR SAVING $700 FOR 9 MONTHS. THAT'S $6300. THATS A GOOD CHUNK OF MONEY. I THINK YOU CAN LAST 9 MONTHS!

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I agree wholeheartedly.

I'm in the EXACT situation - FI and I will be living in the basement apartment of my parent's home (seperate entrance, etc) for $700 a month. I'd rather pay my parents $700 a month than some random landlord $1,000....at least my parents would give that money back to us as a downpayment for a house when we're ready...sort of like a 'forced' savings.

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Posted by LISA6569

YOUR SAVING $700 FOR 9 MONTHS. THAT'S $6300. THATS A GOOD CHUNK OF MONEY. I THINK YOU CAN LAST 9 MONTHS!

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definitely agree--- think about the savings in the long-run... if you are concerned about privacy and your parents want to treat you like normal tenants in every other sense of the word then just explain to them that you will spend time with them and your sisters when you want but when you want to be downstairs and alone then they have to respect that.... and in the end you'll be a happy homeowner!!!

definitely worth it--it's not nine years, you know?

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Posted by LISA6569

YOUR SAVING $700 FOR 9 MONTHS. THAT'S $6300. THATS A GOOD CHUNK OF MONEY. I THINK YOU CAN LAST 9 MONTHS!

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I could see how this is true but I am living with my parents now and I would prefer to just start fresh when I'm married with my own place. I love my family but to me getting married is a new beginning that wouldn't be as special if I were in the same setting as before I got married.

Just my opinion.

Would 6300 make or break the money for a house?

Not worth it.

Move out-be on your own.

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Posted by ChrissynRicky

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Posted by LISA6569

YOUR SAVING $700 FOR 9 MONTHS. THAT'S $6300. THATS A GOOD CHUNK OF MONEY. I THINK YOU CAN LAST 9 MONTHS!

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I agree wholeheartedly.

I'm in the EXACT situation - FI and I will be living in the basement apartment of my parent's home (seperate entrance, etc) for $700 a month. I'd rather pay my parents $700 a month than some random landlord $1,000....at least my parents would give that money back to us as a downpayment for a house when we're ready...sort of like a 'forced' savings.

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I agree, no harm trying it out.

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Posted by ChrissynRicky

I just wanted to add...you can try it out, and worse comes to worse, if it's not what the both of you want, you can search for an apartment...and move.

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Right that is how i feel.. I am not going to force FH to do this though...

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Posted by angnick

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Posted by ChrissynRicky

I just wanted to add...you can try it out, and worse comes to worse, if it's not what the both of you want, you can search for an apartment...and move.

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Right that is how i feel.. I am not going to force FH to do this though...

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of course, i agree-- try it but if he is really against it then you can go on your own, that amount of money isn't going to make or break it of course but it's a difference and it might be a lot more comfortable for you money-wise to do it.

see how it goes if FH is willing...

i'm kind of in a similar situation. my grandparents said we could live there rent free for 2 years.
it's a seperate apt w/ seperate entrance. but my parents are 2 blocks away and all the neighbors are old and it's my grandparents house.. worst comes to worst we only stay a little while.

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Posted by angnick

My parents currently rent out the basement of our home. They have offered to rent the basement to FH and i once we are married to allow us to save money faster to buy our own home. There is a separate entrance

Keep in mind i have twin 14 year old sisters, who love us to death and would want to be around most of the time..

The stipulation would be that we would pay rent, and be treated like normal tenants.

Question, FH thinks it is not a good idea because he feels we would not have enough privacy. What do you girls think? Living here would allow us to save an extra 700 a month to put toward a home..

I'm thinking this situation would last 6-9 months.. Don't you think we should try it out and see how it goes??

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OOOH - that's a toughie. I know from experience that basement apt. is a challenge in itself. Pretty much everyone I know who has lived with a boyfriend/husband in a basement noticed that they argue more. As for Noogie and myself, we had no choice but to move OUT of the basement, because it was seriously affecting our relationship. You have no idea how much you take for granted (windows, ventilation, the sun).

But if you have a goal, just work hard for it - there will be a light at the end of the tunnel. Honestly, a friend of mine just recently got married and her and her husband are living in a basement. She hates it beyond anything in the world. The only thing that gets her through it, is knowing that they are saving lots of $$. They agreed to stay for about 6-12 months and bank all the $$ they are saving - so when they finally get their own place it's not so much of a struggle. If you do decide to take the opportunity to save up make sure to lay out some ground rules for your family. I know it may sound harsh, but you want to still have time with your guy and not have it feel like just anyone can walk in on your privacy. On the plus side you can always raid their fridge, right? Just stay focused and know there is a reason for everything.

Good luck!

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Posted by BklynItaliana

i'm kind of in a similar situation. my grandparents said we could live there rent free for 2 years.
it's a seperate apt w/ seperate entrance. but my parents are 2 blocks away and all the neighbors are old and it's my grandparents house.. worst comes to worst we only stay a little while.

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I live 3 blocks from my parents. Noogie was pretty adament about not moving to where we live now (Fresh Meadows) because he thought it was going to be an 'Everybody Loves Raymond' type of deal and they'd pop in whenever. At first, my parents would call for EVERYTHING. After the first two weeks, I had to tell them that we're trying to do our thing for OUR future. That once in a while little favors are no problem, just please don't expect us to drop everything just because they don't lose their parking spot and we're this close. They understood what I was saying - I stressed that I love them very much but right now I have things in MY life that I have to put before other people's needs. If you could live in NEW YORK RENT FREE for up to two years - GO FOR IT!!

When you do the math - a basic one bed apt in the 5 boroughs average out to at least $1000/mo (and that's the cheapest I've seen for something decent). After 2 years of putting that $$ into savings you'll have $24,000 (plus whatever interest you've accrued). Girl, you can do so much with that! Parents being that close is a double edged sword - but sometimes it's nice that they are right there if you need absolutely anything.

i think only YOU know whether or not you'd have the kind of privacy you truly want. personally, i wouldn't want to do it...only because even though you'd pay your own rent--i would still feel like i'm living within earshot of my parents and not so independent.

one other thing--i know you say it'd only be for 9 months--BUT i've had some friends that did the same thing. they swore it would wind up being only for a certain period of time---well a GF of mine said she'd do it for less than a year to save, and she is going on 5 yrs. same thing with my brother and SIL--they moved in with his in-laws and it was gonna be 'temporary' (with their 2 kids)--it's going on 2 yrs.

i say sit down with your FH and really discuss this together and determine whether you think it will work out. good luck!