Should we share a home with my mother?

Question

We are about to buy a home. We have great credit but no down payment. My mom has bad credit but is willing to give us a nice chunk of money if we let her live in our fourth bedroom. We are about 24 years old, have a toddler and I am due in June. I think it is a good idea, as our mortgage would be lower. The downside is what happens should we have another baby or it just doesn't work out. I don't want to hurt my mom by effectively kicking her out. She would be on neither the mortgage nor the title. What should we do? Turn down the money or chance the blended living situation?

Answer 1

Well think of the two positives...

1. You would get the money for the house for the down payment.

2. Instant babysitter

I rest my case. =)

Answer 2

If you want to try it, have her move in for 6 months. See if it works out for both sides. Then, make it permanent. It can be a trial for both of you.

Answer 3

Absolutely not. You will regret it. You both need you privacy. Your husband will resent you whether he admits it or not. Wait until you have saved up a down payment.

Answer 4

We did proportion our homestead with my companion's mom and that i will assure!! it did no longer have any environmental advantages, moneytary advantages, or emotional advantages for me OR my spouse. the sole earnings replaced into to my M-i-L. She had an aim audience to ***** to.

Answer 5

if you accept the free loan you gonna have to accept the baggage along with it.i wouldn't do it if i were you

Answer 6

no way i have a friend that dose and her mother runs her life.

Answer 7

Be very, very careful.