Current Events > Just bought a house with a suite above the garage for my mom

(+) Yeah! (+)

My mom is recently widowed and retired, so we pooled our money and basically went half and half on a home with a suite above the garage.

The great part is I'll have built in childcare, so no more daycare expenses! It's also a built in babysitter if the wife and I want a date night. I'll also have mom close by if her health starts to deteriorate. Best part is the garage is about 50 feet from the house so there's some privacy for day to day living.

The scary part is the half million dollar mortgage on a million dollar home.... yikes
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Awesome stuff man.

And how is having 500k equity in your home from the get go a scary thing?
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Good for you! I wish I could a house. Or an apartment. Or anything. Ever.

__Cam__ posted...

Good for you! I wish I could a house. Or an apartment. Or anything. Ever.

The whole house?
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Butterfiles posted...

__Cam__ posted...

Good for you! I wish I could a house. Or an apartment. Or anything. Ever.

The whole house?

He wants to do what with that house?

The whole thing?
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The Nine posted...

Awesome stuff man.

And how is having 500k equity in your home from the get go a scary thing?

Well half of my half is the appreciation of my townhouse in 2 years. I bought for just over 300k and I'll easily get 450 for it now. This will be my third purchase in a little over 5 years (my first was a condo for 220k but I didn't make any money on that sale)
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