I’ve been with my partner for 2 and a half years after divorcing and buying my exH out of the family home. I have school age 3 children and am financially managing well.
My partner and I have had initial discussions about moving in together, into my house as it’s big enough for us all (he lives alone.) He owns his own house and his mortgage is almost paid off.
One of his suggestions is that he sells his property and buys into half of mine as this would pay off my mortgage. He would then own 50% of the value and his 50% would be his to share amongst his own children when he dies. I would be allowed to live in the house until I die. He would be responsible for doing all maintenance jobs in the house and garden and would pay 1/5 of utilities etc (I know!) as there’s one of him and four of us.
I suggested he rent out his own property until we see how things go but he doesn’t want to do that.
I have concerns. Firstly if we were to split at any point, I would have to buy him out at half the value of the house. I couldn’t go through that a second time. Secondly, I’ve worked hard to get where I am and am comfortable, wanting to make sure my own children are protected in the future. They would end up with less. To me my children are my absolute priority.
Am I right to be wary?