What do I do [long didn't mean to be though sorry]

MrandMrsP Posted: Jul 22, 2010 10:47 PM

What do I do [long didn't mean to be though sorry]

Okay so FH and I each live with our parents right now

When we get married my parents have offered us rent free the basement of my house which they will turn into a studio apartment with our own kitchen bathroom and entrance again rent free

FH's father just offered to LEND us the money for a down payment on a coop for us to buy and we can Pay him back after the wedding

WHAT DO I DO ????

Which offer would you take?????

I had planned on using some of the wedding gift money to pay down some of our debt and do like a mini vacation or 2 during our first year of marriage and then saving the rest for a down payment on a house that we would buy like a year and a half after the wedding

SO CONFUSED

Ang9483 Posted: Jul 22, 2010 10:51 PM

Re: What do I do [long didn't mean to be though sorry]

I would live rent free and save to buy a house.

LaBellaVita622 Posted: Jul 22, 2010 10:51 PM

Re: What do I do [long didn't mean to be though sorry]

We went back an forth with the same idea..and honestly living in my parent's house down here has been THE best thing. We're saving like crazzzy! We were just saying the other day that even though it would be our own place, we're so glad we're keeping that $ that could be rent every month. It's just temporary, and is getting us to buying a house faster!! It's been over a year now, and we wouldn't have it any other way.

Tromsugar2b Posted: Jul 22, 2010 10:54 PM

Re: What do I do [long didn't mean to be though sorry]

wouldn't it be rude not to see them like..........atleast every week ? idk if I could deal with that, but you know your parents, if its really separated and they wouldn't mind that you live downstairs but don't see them all the time, sounds like a great deal!

MrandMrsP Posted: Jul 22, 2010 10:57 PM

Re: What do I do [long didn't mean to be though sorry]

I don't think they will bother us at all

Mom doesn't want to cook dinner as is I am sure she will not be asking us to eat with them every night.

I really want to live rent free

My fear is that if we buy a 1 bedroom and can't sell it when we want to buy a house we are going to be screwed

If we live with my parents we can buy whenever we find a house we love

madamsireeda213 Posted: Jul 22, 2010 10:57 PM

Re: What do I do [long didn't mean to be though sorry]

Posted by Ang9483

I would live rent free and save to buy a house.

me too. use your wedding money to pay down your debt and save for your own hpuse. if u take the loan from your FFIL, thats more money you have to pay back to someone else.

JLWSJC Posted: Jul 23, 2010 12:07 AM

Re: What do I do [long didn't mean to be though sorry]

I agree with everyone. Rent free. It would be all well and good if FIL's were going to lend you the money for a down payment if you had no other option.. but you're still going to owe them that money and be paying rent on top of it. Living in your parents basement is a huge leg up a lot of people don't get. Even if it's just for a year, that would be amazing.

cMm2011 Posted: Jul 23, 2010 12:10 AM

Re: What do I do [long didn't mean to be though sorry]

I agree with the others-rent free. Wish we could do the same

Danielle41209 Posted: Jul 23, 2010 12:35 AM

Re: What do I do [long didn't mean to be though sorry]

rent free! I wish I stayed before buying the house...save all you can!

mollygurl24 Posted: Jul 23, 2010 07:18 AM

Re: What do I do [long didn't mean to be though sorry]

Live rent free and save, save save.

MrsDtoB Posted: Jul 23, 2010 07:25 AM

Re: What do I do [long didn't mean to be though sorry]

Living rent free and saving is really nice, however keep in mind even though you aren't 'living with' your parents, you still are. If you are 100% ok with it, then do it. If not, think twice because it can cause a lot of tension and sometimes fights.
I'm just telling from my personal experience, we live in an apartment above my parents some days its fine, and others I just wished we had our own house and were paying a huge mortgage.
Then again, you could love it totally and what I'm saying means nothing. Everyone is different.

DMLHeartsCRM Posted: Jul 23, 2010 07:26 AM

Re: What do I do [long didn't mean to be though sorry]

i agree with the rent free.

FutureMrsPanuch Posted: Jul 23, 2010 07:36 AM

Re: What do I do [long didn't mean to be though sorry]

I agree,,, live rent free... Its a buyers market right now... not really the sellers market... if you buy a coop like you said when you are ready to buy your own house and you already have money in a place you might get screwed, Save the money towards a house and when your ready and you have enough money for a nice down payment go for it. As long as you have your own entrance youll have your own place anyway. you would just be living downstairs from your parents......

leesah85 Posted: Jul 23, 2010 07:43 AM

Re: What do I do [long didn't mean to be though sorry]

Posted by madamsireeda213

Posted by Ang9483

I would live rent free and save to buy a house.

me too. use your wedding money to pay down your debt and save for your own hpuse. if u take the loan from your FFIL, thats more money you have to pay back to someone else.

ITA

Jennielee15 Posted: Jul 23, 2010 08:52 AM

Re: What do I do [long didn't mean to be though sorry]

Rent Free, save money!

I live next door to my FMIL and I see her only occasionally. We do not have the best relationship but seeing her isn't a big deal just a wave and a hello. No big deal!!!

angelatp Posted: Jul 23, 2010 09:03 AM

Re: What do I do [long didn't mean to be though sorry]

definitely rent free and save money. It's so hard to save when you're trying to pay all your bills and trying to them back as well.

TheFutureMrs2011 Posted: Jul 23, 2010 09:49 AM

,

mybabylovesmoi Posted: Jul 23, 2010 10:01 AM

Re: What do I do [long didn't mean to be though sorry]

live rent free. Once you own property, there is going to be bills and furniture to buy, etc. It will be alot less stressful if you don't owe anyone any money on top of that.

Honestly, FH and I recieved a gift from my parents toward our downpayment, if it had been a loan, they would've had to wait like 50 years to get any back