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

Original post by MrandMrsP

Jul 22, 2010 10:47 PM

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

evita2781 Posted: Jul 23, 2010 01:47 PM

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

Posted by LaBellaVita622

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.

can you convince my FH to do this? He refuses to do it! i told him we can save money for a few months after the wedding and it won't be SO bad. JEESH!

evita2781 Posted: Jul 23, 2010 01:47 PM

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

and I would def live rent free - that's so much $ saved right there!

suzie411 Posted: Jul 23, 2010 01:50 PM

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

My initial response would have been the coop deal. . .but everyone has great points!

Rent-free may be a better option!

MissingLI Posted: Jul 23, 2010 02:00 PM

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

I say rent free, but I do have a question. Does either offer come with restrictions meaning: if you move into the basement and it's not working, is FFIL's offer off the table, or can you speak with him at that time? Hopefully it wouldn't come to that.

Had to ask, I'm a back up plan type of person. I like to think about all possible options or outcomes.

KrisCharl Posted: Jul 23, 2010 02:56 PM

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

i would live free and SAVE!

FutureMrsDe Posted: Jul 23, 2010 03:23 PM

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

I am really surprised how many people would live for free. But since i am the only one who has been your parents basement , I would say buy the condo . you don't want to kill each other being in such close quarters.

Thats-What-She-Said Posted: Jul 23, 2010 03:25 PM

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

I have to agree with almost everyone else. Plus it isn't like FFIL is giving you a down payment, he is only giving you a loan which will only put you in more debt. And if you do have a lot of debt, your mortgage interest rates won't be so great. Would you even be able to cover a mortgage and maintenance fees.

Moonmist09 Posted: Jul 23, 2010 03:31 PM

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

i don't know that i would do either. only because i wouldn't want to live in my parents or his parents basement, rent or no rent. parents always tend to get involved, even when they don't mean to and i've seen it cause too many problems to deal with the hassle. i would rather pay rent and keep those relationships seperate.