Have you made your parents' house your own family home?

[thomasina]

And if so, how did you work it out with siblings?

What do you mean?

Dh and I have bought my parents' house - they moved out of the area and we bought the house of them. My siblings didn't really come into it - neither were in a position to buy it.

'off them'

yeah, that's what I mean.

but maybe not buying it! or at least not for market value.

how is it fair on siblings?

My Dh wants to buy his parents his parents house. I can just see the minute I start making it my own my MIL freaking out. I might if it was my mom's house.

well my parents are just giving it to my bro, sis and I get nowt. So theyve worked it out ok, then...

depends how many of you there are.

if 2 siblings, you only pay half the value of the house to the other one.
if 3, you pay 2/3. so good chance of being affordable.

2 siblings.

half of market value?

So are you buying it from your parents or not?

If you buy it from your parents and they give you some money off the price, can't they just give the same to the siblings?

If they are leaving it to you then I'd expect what Sobernow said.

We bought my DH's Mothers house for less than the market value. His brother was not in a position to buy. She died 4 years ago (took her own life) and said in her will that DH's brother was to get £15k more than DH as this was how much below the market value we paid for the house.

FB x

I don't understand all this talk of "shares" in the context of living parents. I mean, if they still own the property, the kids don't actually have a "share" so it's all hypothetical, isn't it?

Sorry if I'm offending anyone. 'Tis a subject close to my heart at the mo as my parents have paid off their mortgage on their home and are letting my little bro live there (they live abroad). Causing no end of problems with my big bro and sis as they feel little bro should pay the rest of the sibs their "share".

I mean WTF - Mum and Dad aren't dead yet and even if when they do, surely they can leave the house to the next door neighbour if they feel that way inclined...

oh plop - killed the thread

sorry Thomasina