My Family Is Pressuring Me To Buy A House! 

Dave’s best advice actually comes when discussing finances and boundaries with family/friends.

This poor kid is being used by his family. They want him to clear the liability of debt on this house himself so the asset can be communal within the family. And the fact that this 21 year old is the "only one in a position" to handle this 294K debt tells you the kind of financially irresponsible folks we are dealing with here.

Family members are clearly going to feel entitled to stay in this house. His mom, his extended family, all want to do this for a reason. The ulterior motive is obviously lurking.

If he sells it later and makes alot of money the relatives will expect some of the profit

There’s no such thing as a free lunch. If the house is worth $400000 and his family wants him to buy it for $294000 to satisfy some psychological need of theirs, then they’re going to hold that over him. Run don’t walk away from this deal.

He sounds like a good kid, very respectful and is way ahead financially than most. I hope he succeeds.

Dave Ramsey is telling the truth. My sisters said they weren't one bit interested in my mom's property. That lasted until realized there was some money to be made. Family can be cruel. Very cruel.

If he does it. Every financial family burden will be put on his shoulders for years to come

His mom should buy it then.

Even if he gets the letter signed by the whole family, their emotions will still get hurt when (not if) he sells the house.

Dave is right this is a trap. A house is probably the biggest purchase a normal person will ever make and it should not be purchased under any sort of pressure or drama or circumstances. A lot of thought should be put into a home purchase as well under some degree of financial security and enough savings to handle unforeseen emergencies

Dave Ramsey almost put a lobster suit on and yelled "IT'S A TRAP!!!"

When I was 21 I was unable to think through stuff like this. This situation is a bit weird.

People need to be taught how to discern traps. Especially family traps

Dave is right! A year ago, my daughters father in law died, leaving a condo paid for, and family to sell it. His wife died 10 years before. So they’re trying to find someone who would like to buy it. Only problem is there was a lot of things to fix. So my daughter thinks I should be interested in it, because after I sell my place and buy this condo, I would be better off financially. And she said NO PRESSURE MOM, you think about it. So I did. And with all that would have to be fixed, and I have my actual home, I decided it would not work for me. GUESS WHAT? She was so upset that I had said no. She wouldn’t talk to me for a month.

I've been kind of a part of family and house deals and unless that letter could be written happily and eagerly, I wouldn't touch that deal with a fifty foot pole.

Wow, I just feel bad for this young man. This is nothing short of emotional blackmail. He obviously has made good decisions and is in a good position financially now, but is about to blow it. Bless him.

Dave's suggestion about that his fam should write him a letter on PAPER. Saying that he can do whatever he wants with the house and not forced to sell it later to his fam for a cheap price or for free is a good idea. Get it on paper. I had the same problem with my fam. "I cannot remember you said that " and just outright denying afterwards. "Forgetting" agreements.

Thank God that young man asked for your advice, Mr Ramsey, I hope he takes your good advice.

I think this young man is doing amazingly well and should be commended for paying off all that debt in such a short period of time. I hope he will continue to build and grow his good financial habits. Yet I will say if I were him I would push my family to sell the house and split the proceeds and he should continue to rent and save up money. Finances and extended family are a bad idea in the best of times, it is an absolutely HORRIBLE combination when emotions are in play.

You're 21, you don't need a house.

The house would be a family crash pad. Is this young man prepared to take in family members?

Mom and Aunt have too much hold over him. He's going to buy it, and he's going to regret it.

I wish there were a “where are they now” segment. I’m curious to know what he decides. I agree this sounds like a sketchy situation & I am hoping he guards himself here.

I love how Dave sits there, asks questions, pokes around a bit and then hits them with the PASS - THE FAMILY IS WHACKED LMAO

Dave: Your family is whacked. Caller: No actually just my Uncle.

He knows it might be a bad deal. He’s scared to tell his family no

Some how Dad gum always enters into these conversations😆

You know Jim Bob is going to come out of the woodworks

This boy is going to be bullied by his family. Sucks to see the point where it could have been prevented.

His family should not have even known how much money he has. It's good to tell your family how much money you make in the first job, but after some time, personal finances should be personal. Nobody outside of the family (husband and wife, not extended family) should know your complete financial situation. My stomach is acting up just by listening to this call, I was in a similar position. My best suggestion is to run, move out of town, away from family at least until you develop more emotional maturity to handle such things. You can visit them on special occasions and such but should have separate lives.

Ken saying, "weeellllllll.....," might be the funniest thing I've ever heard him say. Haha.

I really hate it when people wont answer a question but tell a long winded story only tentatively related to the question.

"Your family's wacked" 😂😂

Anytime someone tells me how to spend my money, when I don’t agree, I ask if they are going to contribute to the cost of it. Shuts them up.

I would buy, only becouse I am cold hearted and I would not think twice before cutting all familiy relations if needed.

I might buy the house. But yes I would make it perfectly clear beforehand that if I buy the house, it’s mine. It’s not the families. If I want to renovate it, I will. If I want to cut down trees I will. If I want to dig a hole in the backyard and put in a pool, I will. If they want to come over I can say no. If I want to sell it for as much money as I possibly can, I will. Make that clear or don’t touch the house.

Great advice from Dave Ramsey. ✅

Listen to Dave. Don't buy the house. No one else has the resources except you. They are going to lord it over you. Don't do it.

He wants the House!!!!!!

.....Pretty obvious that this would be a big mistake. And no matter how smart this kid is..He is only 21 and doesnt understand people yet. Good advice Dave.

Also, let NO ONE into the house to stay for a bit. It is not a stop and stay for the family. He needs to toughen up to his family. Set boundries now.

And the aunt and the mom better keep on working and saving for their own retirement and a possible down payment on their own place if he decides to sell.

Once you’re 18, you’re not legally connected to your parents. Your parents can possibly make bad financial decisions but you’re a legal adult and are no longer obligated to put yourself in a bad position financially. Parents, your kids are not your retirement plan. Plan ahead. Let your kids (adults) to be able to live free and take care of their kids and develop this type of thinking

Dave hit this on the head! Great advice!

These family real estate deals never work out well in the end. Never do business with irrational family members.

By the house once you sign the papers it is yours to do with as you please

He buys that house and the next day his mom and aunt are on the doorstep with their belongings. Guarantee it.

Definitely a trap, does everyone have free access into this house? Doesn’t sound good to me. Quite the emotional dilemma for this young man unless Auntie and mom just want to give him a great opportunity! Best wishes ❤️🔥

Only Dave gives this kind of great advice ❤

All I keep hearing is use velocity banking to pay your house faster isn't that just borrowing money to pay off borrowed money?

Need to correct the title......

Great answer 👏 👍 👌

Dave is speaking the truth but i think this situation is them wanting to close the estate and would rather see a family member get a deal on it and sell it fast rather than go through the stress of selling a home with the owner being dead

I think Princess Leia would say "it's a trap"

If he profits off the sale they will lose their minds. Family will want to buy it someday …. for what he paid for it… ten years from now.

His sister is going to wind up living there rent free. God help it if he gets married. I wouldn’t put up with it . Leave. It’s on them. He earns a great income at 21 and they think it’s theirs . If he tries to sell it they will expect a cut

Nope, don't buy it unless YOU want to!! what happens when you decide you want to move? what happens then, does your family think you will live there forever or that they will get to steal your equity?!

Great advice!

Too much strings, too much emotions. Its a trap, run lool

I really really like DR advice here

he should just flip it for a profit

It's going to cost him more to find a place to rent.

in the letter also, that profit from the selling of the house he keeps!!! Didn't the uncle have a will???

I still don't understand why does he need to buy this house from his mother and aunt? Why is he pressured to buy it? He's 21

yeah weird expectations come into play. My dad's family had a 40 acre farm. 4 kids, grandma parceled out 10 acres to each. She willed my aunt, the only daughter, the parcel with her house on it, because she was married to a poor pastor and it was sort of a "if they ever need a place to live" kind of thing. The whole family was in agreement. One uncle built a house on his parcel and raised his kids there. Now, 20 years later, grandma moved out of her house into a retirement community. My uncle's son got married and wanted to move into grandma's house, with the intention of buying it when they have the finances. Here's the catch: in the will the parcels could only be sold between family members, and for no more than $1000 per acre. So now my uncle expects my aunt to sell her parcel to his son for $10k, the house included. Yes, the inheritance was uneven and unfair, but that was intentional and everyone agreed at the time. It's devolved into all sorts of family drama that seemingly doesn't have a solution.

This guy is saying anything to justify it. Personally, I wouldn't do it. It's a trap.

Since you live it, buy it. If you need a 30 year mortgage, get that and make as much in extra payments as you can.

10:33am? Early access, nice! Unless you changed the 8am, 12pm, 4pm schedule...

They want him to buy the house so they can get money out of it.

Only buy the house if you truly feel comfortable doing so when I moved back to Illinois 18 years ago my mother wanted me to buy my parents home that I was raised in I said no I never said anything to her but I never had good memories in that house plus it was on a slab and I have always had homes that had a basement and that is what I wanted so you do what feels comfortable to you not what others want If you choose to buy have it independently appraised not go by what they say is the value

You can do a 30 and pay it off in 15 or less. Just make sure you won't receive and penalties for early pay off.

This is shady...they are selling the house at $100k discount. If nobody think there are strings attached they are crazy. If they just sold it after fee and commissions they would each (mom and aunt) pocket $40k. He said neither one of them are in a position to buy the house, so it sound like they could use the $40k. I would pass, now if they would refi the $290k so the mortgage payment was reasonable I would rent from them, but it would have to be a formal agreement and when the roof needs fixed it's on them. Then after five years hopefully you've saved up over $100k and go buy your own house.

It's a trap I took over a 390k house no body wanted to take over payments and 6yrs later i sold for 609 and every one thought it was payday. Family problems will come if you don't share

If I inherited that house I would sell it at market value. I didn't hear any good reasons to do anything else with it. Why on Earth would these women want to give away $140,000? That is either laziness or stupidity.

Don’t waste your time in this kid. He doesn’t want to listen

Dave was like a bloodhound on sniffing out the 'future expectation' on this one. Financially a good deal if he can make it work without going under doing it, but he has to have the "Expectation Killer Clause" widely broadcast! I wonder how that one turned out (two years ago).

I hope he didn't buy that house.

Don't do it kid, family are the worst possible business partners most of the time.

Yep it’s a trap

There is crazy in every family, if you don't see it, guess what

Anytime someone answers with...I mean....

Just the fact someone is telling another person they should purchase a particular item is a reason not to have any involvement.

That's a bad idea. He should let it pass.

Is the house on a lake or at a very desirable 'family gathering location' (like down the street from Disney Park)?

$80k saved at 21. Amazing.

Don't do it. Buy a different house.

Or pay it off and rent it.Technically keeping in the family woot.

"All but quirky, New Mexico"!

You will owe your family a big favor, that they will hold over you forever. Hope you like family as roommates.

His family is expecting too much - full stop

Dave doesn’t listen anymore!!!!

Run far. Run fast!

Buy it, sell it immediately, take the money and move

I dunno, if he has to sell for a good reason in the next day or even the next year it wouldn't be fair for him to get the whole windfall profit. Maybe after a few years. I'm sure that would make a big familial mess too. In reality if he's only getting the discount to keep it for a significant time. If some first right of refusal or time limitation isn't clearly agreed then just don't do it.

God I hate talking to 21 year olds. : ) He was a completely different person 5 months ago. 🤣😂🤣😂🤣

Unless you can look at this as a pure investment in your future dont do the deal. Hes young and will feel the pressure of the family unless they release it in writing to him

I’ll take the deal. Il leave a agreement very clear.

Could he get roommates? Make is an income generating property.

Subject-to, if possible, sounds like the move