DH and I are on fairly low wages (NHS staff) we have two young children and we have always struggled financially, we have lived in 5 rented houses together in 9 years. A few years ago it was suggested (by them) that DH's parents could buy a house for us to rent back from them - help us out.
The terms were - it was going to be in a specific area chosen by in laws for investment purposes, it had to be a new build for ease of maintenance (by them) and they agreed to charge us less rent than market value. A house was chosen and they took us to view it - seemed fine, we were happy, they were happy. They made an offer on the house and got it, they bought it outright - no mortgage. They gave us a tenancy agreement, the rent is cheaper than the market value for a 3bed however it is still quite a lot, it is the same as we were paying in our previous private rental. This house is also a higher council tax band. We are not any better off financially here.
Fast forward, we have been living here for 3 years and we are not massively happy. Its not the best area for us in terms of getting to work / social aspects / things to do for the children. The house itself is very small for 4 people and the extension needs some serious repair work (that they have been promising to do since we moved in) we have decorated and made it really homely, but I am reluctant to pay for any structural work because we will not benefit from the return if the property is sold.
My DH approached his parents and asked what would happen if we wanted to move, his mum was annoyed and said we'd need to go back to private renting elsewhere. We have secretly put ourselves on the council house list but it seems very slow going.
I don't want to seem ungrateful at all, but I can't help but think its a bit of a raw deal, and we are kind of stuck in it.
WWYD?