This is not a new thing. This is how families have lived all over the world. It helps new families and older family members. Financially and emotionally. Isolation is a large problem today with both generations. Renting and buying are very expensive. This is a solution for many reasons.
So my 61 year old mom already lives with me in my house. She wants me to buy a bigger house with her and rent out the current place. I'm a 38 year old single woman. I've had often faced stigma in the dating scene for living with my mom. I told this to my mom, and she says marriage is overrated and unmarried couple shouldn't be living together. She herself has a boyfriend of 15 years, but she doesn't want to get a place together with him, because his divorce procedure has not been finalized for forever. And my guess is that she doesn't want end up responsible for his eldercare, as he's much older than her and in his mid 70s. She doesn't speak much English and isn't good with computer and technology, so she's already getting help from me in those areas. She also doesn't like to socialize with friends, and she's happiest on holidays when she gets to see all of her childrens. My mom's idea makes a lot of financial sense, as she's nearing retirement age, even though she's still young. She has a lot of savings from living rent-free these 10 years, and I'm making 120k a year and we both have solid credits. I don't have as much money saved to afford a house in the rane my mom's is looking at, but she does. So it makes fiscal sense to combine assets to buy a house and to end up with a rental property at the same time. But I'm afraid that I might regret buying a house with my mom. She treats me like a 10 year old already. But I don't want my mom to be lonely and I want to help her save for her retirement and be there when she's sick. My dad passed away 3 years ago at the age of 63, so in my mind, the possibility of sickness and death is just around the corner. Also, having a rental property will also secure my retirement as well. I'm confused as to what to do. All the comments are from married people with children. I want to hear from other single people.
My ideal would be for my parents, siblings and our families to live in the same apartment building. That way there's the connection of a "multi-generational home" but with due privacy
@@sydney4271 idk it may sound like that but Mexican American families like mine have been doing it for years. We have a 2 flat with a full basement and have family members living together but we still have privacy.
From the economic perspective, this is a fantastic option--money can be saved from spending on elderly homes & childcare for little kids. Most of the equipment at home can be shared, so there is no need to buy many sets of the same items! On top of that, property taxes can be saved as well even though there might be an increase in property taxes for the original house (as it is getting larger), but the taxes will definitely be cheaper than paying for 2 separate houses. Potential problems are the conflicts between family members (especially between the in-laws), too loud for the surrounding neighborhoods, and the difficulty when deciding who has the final say on big family decisions (if not, voting may be necessary)!
So my 61 year old mom already lives with me in my house. She wants me to buy a bigger house with her and rent out the current place. I'm a 38 year old single woman. I've had often faced stigma in the dating scene for living with my mom. I told this to my mom, and she says marriage is overrated and unmarried couple shouldn't be living together. She herself has a boyfriend of 15 years, but she doesn't want to get a place together with him, because his divorce procedure has not been finalized for forever. And my guess is that she doesn't want end up responsible for his eldercare, as he's much older than her and in his mid 70s. She doesn't speak much English and isn't good with computer and technology, so she's already getting help from me in those areas. She also doesn't like to socialize with friends, and she's happiest on holidays when she gets to see all of her childrens. My mom's idea makes a lot of financial sense, as she's nearing retirement age, even though she's still young. She has a lot of savings from living rent-free these 10 years, and I'm making 120k a year and we both have solid credits. I don't have as much money saved to afford a house in the rane my mom's is looking at, but she does. So it makes fiscal sense to combine assets to buy a house and to end up with a rental property at the same time. But I'm afraid that I might regret buying a house with my mom. She treats me like a 10 year old already. But I don't want my mom to be lonely and I want to help her save for her retirement and be there when she's sick. My dad passed away 3 years ago at the age of 63, so in my mind, the possibility of sickness and death is just around the corner. Also, having a rental property will also secure my retirement as well. I'm confused as to what to do. All the comments are from married people with children. I want to hear from other single people.
And all this after my generation was hounded to gtfo and spend our life's earnings on our own home. Single family housing is the largest American pyramid scheme in existence.
I think a Better way is to have say five acres, and have several houses with seperate gardens, but all within an overall boundary. So you have like a multi-generational homestead, with a Single drive, but you can all look out for each other, etc security as well as the more practical things like Amazon parcels etc.
@@Not-Ap. None of these houses are cramped. Any house 1600 sq foot or larger with a finished basement is plenty of room. That’s the entire point. It’s about utilizing existing space.
Seeing this, only 1 thing crossed my mind - does this house have enough storage for enough toilet paper? This many people results in a need that is critical to life
