Hi all.
So my parents are getting older and about to retire. We are an Asian family so future plans always included keeping them out of nursing homes/assisted living facilities and that they live with family.
Currently, I (27F) live with my two older siblings. I make the highest income (~68k) while my older sister makes (~45-50k) and older brother works a minimum wage job. None of us have any student loans thankfully or other debts to be paid.
Since all of us “kids” are single and not in any sort of relationship, I doubt any of us are planning to marry soon and would just live together to save money.
I am wanting to buy a house and am considering to do so with my sister and have my parents live with me as their caregiver. When I discuss this with her, she doesn’t seem to really care and has stated willingness to contribute $$ (she’s got a very indifferent personality about everything). I haven’t spoken with my brother about this, but I am under the assumption that he would want to come and live with us, so I plan to have him pay rent rather be involved in the home ownership aspect (because he’s quite frankly unreliable)
My parents have offered to provide some sort of financial assistance so that we can afford a nice 4 bedroom home, but they’ve been sending me a lot of information lately about the types of homes they’re interested in. Essentially, they’re wanting to build a home and the designs they are wanting has a price point of ~$350k
Thoughts on this whole situation and finance aspect?? The more information they send me and the more we discuss it, it starts to weigh down on me as a bad idea, but I’m hoping to make a smart compromise at the same time. I feel like culture plays a big part in this and is making my decisions a lot harder
Submitted December 05, 2020 at 06:49PM by inneedofcreativity https://ift.tt/3okebj4
