Wanting parents to sell home

[bctf123]

I think this is a topic that splits many people down the middle.
My parents house is worth about 400k when the average in the area is 200k or less. Over the years it's needed a lot of maintenance and cost a lot in renovation. Now they need to extend the bungalow for space. The roof needs doing and lots of other things around the house which would in total add upto around 100k

I just feel it's a complete waste of money and hassle. They can't keep the house clean. The large garden is now concreted and used for an annual bbq only and I think it's all just a status symbol
By freeing up 200k for a ready to move in house I feel like it would ease the financial situation, allow for a reduction in working hours and would allow an investment in property or to help their children with a loan

I know all parents think differently so interested to know how people fall on this?
From afar it can look like children begrudging parents their freedom...or maybe not?

Just to clarify I haven't and am not planning to ask. It was my idea

As for a loan- it is common in our circles for parents to assist with small house deposits . I am saying a loaned deposit is better than a giveaway

Our own kids have pressed us to do this.

It’s none of your business. You’re after a loan are you?

So you want your parents to sell their house to free up money so they can give you some? No I’d never think that my parents should do that. They’ve worked hard for their house and are enjoying retirement, why should they give up their house?

It is fairly common for parents to help with house deposits, if they have the money, but it really isn’t common to give up their houses to do it. It sounds like your parents can’t really afford it. I didn’t get help either, we saved very hard in our twenties and went without luxuries for years to buy our first house. Lots of people we know did the same.

It's their money. It's their home. It's their business. Its nothing to do with you. Mind your own business and support yourself.

Have your parents asked for advice, are you experienced in financial planning or have wide experiences of mortgages etc?

As they are still working I assume they have capable of their own decisions and have years of experience dealing with their own finances.

Why do you feel the need to have ideas regarding their personal financial matters?

This is the grabbiest most entitled post I’ve seen in a while! all wrapped up in faux concern for your parent’s welfare when all you want is their money gifted to you, loan my arse.

So you just want what your "circle" have as in money from your mum and dat why didn't you just say that ?''

YABU.

If they have capacity then it's their choice. There's a very unpleasant whiff of grasping entitlement in your posts.

Lol, so? It being common doesn’t make it something you’re entitled to.

I say that as someone who was gifted the money that allowed me to buy a house, but that was something my parents chose to freely give, not something I was entitled to or asked them for.

Dad*

Your Faux concern for obviously still working parents is embarrassing are you not mortified that you think your parents owe you a "loan"

So if it's a loan you'll be setting up a nice legally binding repayment plan then Op? Of course you won't, you'll hold off for years and hope they say it's a gift. You're an adult now, you pay your own way until/ or unless someone offers you money, offers being the important word

It may be common for parents to assist their children with house deposits, but that really shouldn’t be the reason behind elderly parents downsizing their home.

You say they are still working, so they can't be old or that decrepit. Maybe they just have different cleaning standards to you?
And bungalows always cost more than an equivalent house and makes sense for old age,

Or help their children with a loan ……ah right that’s the point of u wanting them to sell

I've only ever heard anyone say "in my/our circle" on Mumsnet

or to help their children with a loan…

And hidden in the post was the real reason.

By freeing up 200k for a ready to move in house I feel like it would ease the financial situation.... to help their children with a loan

So what you actually mean is "how can I dress up wanting my inheritance before they've even kicked the bucket in such a way as to make it look like it's all about concern for them"?

and would allow an investment in property or to help their children with a loan

Yes, OP, you are 100% coming across as grabby.

OP asking for this thread to be deleted in three... two... one...

Unless they lack capacity to make their own decisions, or are being exploited by builders or such like then it is entirely their affair and they can do what they want.

They are in what I assume is a decent sized bungalow which are hard to come by usually and more expensive. They seem to have future proofed their life by getting a bungalow so that when they are older the don't need to move.

Now future proof yours and save your own deposit.

My condolences to your parents. They unfortunately have (at least one) incredibly entitled and grabby adult child. My god.

This is really confusing - surely there’s more information to come?! Otherwise just an OP eyeing up some cash!