View Full Version : Would you buy a house with a relative?
My sister and I (the only family we have) each own our own paid for homes about 50 miles apart. Her's is a VERY small one bedroom condo (500 sq ft), mine a 1500sq ft older house on 1/2 acre. She wants to get a bigger place since she has a ton of stuff and I want to get a smaller place that is easier to care for. She works full time and plans to stay in one area until she retires (and possibily for life) and I'm retired and flexible as to where I live. She is willing to watch my dogs while I travel but it is difficult to do where she currently lives - something that is VERY useful too me :-)! Alone, neither of us could afford a small house with a small yard in the area we want to live in near her job and the beach in Southern Calif. But together we could pay cash for a place and each of us have quite a bit of money leftover. So we have thought about buying a house together near her job and selling our respective places. We get along great and are best friends who have similair lifestyles and have lived together before (renting) with no problems but buying is different. Any thoughts or experiences to share?
shadowmoss
7-29-11, 4:24pm
Put everything in writing. Try to think of every eventuality. What if one of you falls in love/lust and wants to move the object of desire in. How many animals between the two of you is 'enough' and how many/what kind are too much. What is the escape route if one wants out and the other can't afford to keep the place? Think worst case. Then put it all in written legal format. Murphy strikes the unprepared, so prepare for any eventuality and most of it won't happen.
I'd do it. I have neighbors that are sisters that have a house together and have since...I don't know. A long time. I remember them living together when I was little and I'm in my 30s now. They both love roses and poodles and have a beautiful rose garden and a couple of miniature poodles. It can work. You know your sister better than any of us and if you think you'd make good room mates you probably would. It's not like you've never lived with her before.
I'd do it too. Make it a 50/50 deal, and have lots of pre-buy (move-in) conversations beforehand to establish a common understanding as to the way you (both of you) will run and manage the home. I think it's a totally doable concept.
I did this, kind of. My parents bought a plot of land next to their house when we were kids, with the intention of subdividing it and giving us each a piece to put our own houses on. Zoning laws changed before they subdivided, and that was no longer possible. My sister and I were living together already, and neither of us intended to get married, so my mom decided to give the land to us jointly and then leave her house to my brother eventually. DSis and I had a house built, using mostly her money (I was still in grad school). Both of our names went on the mortgage though. About 3 years later, much to my surprise as it was NOT part of the life plan, DH and I got together. When I decided that marrying him was what I wanted/needed to do, I did so with the knowledge that I was backing out of my commitment to my sister because I knew it probably wasn't going to be viable for him to just move in. I felt AWFUL about it, mostly because I was worried she would hate me/us. But we worked it out, and she refinanced and I quit claimed my share of the house over to her. Eventually, because she is the greatest sister ever, she gifted me back my share of the base value of the house over a period of several years. That money ended up being a big portion of our downpayment on our first apartment after we moved to NYC. Which we turned a tidy profit on a few years later. She works in IT and had a good salary, so paying the mortgage on her own without my contribution was viable for her. She actually paid it off early -- way early -- a few years ago. We are all still on great terms, and she gets along fine with my DH in spite of the way he kind of messed up our Delany SIsters plan. Not his fault really -- more mine -- but she doesn't blame me either.
In hindsight we really should have planned things better and we are incredibly lucky that things turned out how they did without any major complications. I think having things in writing AND have a strong relationship where you communicate about things openly and transparently is important. But if you have that foundation already and this looks like a win win situation for both of you and you can set things up in a way that is fair and agreeable to both of you, then I would say go for it. Your relationship sounds a lot like ours, and this could be a really good choice for both of you.
lhamo
treehugger
7-29-11, 6:26pm
Would I buy a house with a relative? Sure. Oh you mean one of my relatives? No. :)
Sorry, couldn't help it. Anyway, my two older brothers own a house together and it has been very successful for them. Like others have said, make sure you have clear terms that you both can live with and a good understanding of each other's living habits. And definitely make sure you each have your own space for alone time.
Good luck! I think mutually beneficial cohabitation makes a lot of sense.
Kara
Yup - a duplex.
There's a solid piece of truth here. A space designed to allow both shared and individual areas would be best. My parents and my mother's sister lived down the hall from each other in an apartment building for over 10 years and enjoyed it greatly.
I would also second the partnership agreement.
Thanks for the input everyone. Yeah we've talked about this alot and agree that we'd have to have some pretty firm and probably written agreements about things before we did it (that "little" sis of mine tends to become senile when it suits her - but isn't that true for ALL little sisters :-)?). We would both split everything 50/50 and don't have issues on how to decorate, etc... she can do it how ever she ants since I don't care. One big benefit about us getting a place together is that I have a tendency to travel several months of the year during the summer and fall, while she, once she retires in about 4 years at at 55, likes to travel during the winter and stay home in summers and fall. So we might not ever even see each other! We'd each have a built in house sitter too when we were gone. Both of us like alot of alone time too. We have alot of the same friends and activities too - many sports stuff - so we spend time together doing that kind of thing when I'm around. And of course if one of us dies then the other inheriets everything with no probate! Lots of advantages besides the cost savings. So on paper it all sounds good. Only potential problems would be if one of us wants to sell and the other can't buy them out. Have to come up with some kind of contingincy plan for that. Probably both agree to sell the place. Same if either of us had a "love-interest" we wanted to have move in. We both already agreed that no one could move in or stay over long term. And since we are both in our early 50's (and neither wanting to get married again) then we don't have to worry about kids, grandkids or spouses. We'll be the old maid spinster sisters - or how about the hot gay (er... I mean as in "happy" since we're both straight ...divorcees - I like that better :-)!
I wanted to bump this up as sis and I are again thinking about buying a place together soon and wanted to see if anyone has any further advice before we make a decision. Some changes since the first post - I recently sold my big house (1500 sf on a half acre) after 2 of my 3 dogs died this last year (have one small one left) and my sister was recently laid off. If she sells her paid off place and we buy a place together raher then seperately then she can retire now (she just turned 52 and will get a pension at 55). This time it would be a condo rather than a house and we have found several that would both be very affordable if we buy together and split expenses. We both are long term travellers and would most likely be gone several months each a year at different times so would each have our long term "alone time". Any advice or wisdom?
Other than ensuring that you cover off all the bases and both of you are on the same page, no further advice to share. Really excited for you. Hope you find something that works!
I think it sounds like a great plan. Assuming that looking for something affordable means you would be leaving So Cal? If you could find something cheap in a part of the country you both like that would be less than renting and require minimal maintainance, then it is definitely a win-win situation. Maybe deciding on where to go would be the biggest issue. Hope it ends up being the Pacific Northwest!
Another option would be for one of you to buy it and the other to pay rent, which would go toward the mortgage. that might be a bit simpler legally, etc.
Glad you were able to get out of the place that wasn't a good fit so quickly. I love your style (but you knew that already, Ms Wondertwin...)
lhamo
All I can say is that is can work well, but all the legalities need to be taken care of. Details of exactly what will happen on 1. desire to move out, 2. Illness or disability, 3. death, etc. needs to be in writing.
There are just too many unintended things that can happen if it is not in writing and both of you protected from changes in mind, illness or death.
Have you tried living together?
San Onofre Guy
1-5-12, 4:25pm
Lindi,
I'm going to provide a contrary opinion. I don't think your sister should co-own with you. You are a free spirit and that is great, however not to be mean spirited but your track record in changing how you live is such that you are not stable. What I mean is, you change how/where you live frequently. Retired, moved to Big Bear, sold, went all around, then suddenly it seemed as if you bought in Temecula. Now I hear that you sold Temecula and are again house and essentially dog free and ready to travel around again.
I do think that you are someone who likes to have a base to live out of and to "come home to." I'm just not certain that you know where home is. Plusses to Orange County, the beach; plusses to Big Bear, the mountains; plusses to Temecula; cheaper and easy to both beach and mountains. Minusses to Orange County, conservatism and congestion; minusses to Big Bear, remote; minuses to Temecula; many McMansions and you have to drive long distances to get anywhere.
Perhaps you want to enter into a longterm lease with her, an up front downpayment to help her buy a bigger place and then a monthly "rent" that rises based on the CPI.
I think it sounds like a great plan. Assuming that looking for something affordable means you would be leaving So Cal?
Oh I wish it could be out of SoCal and into the Pac NW - where I believe you promised to buy me a coffee :-)!But sis is a diehard SoCal beach bunny girl and won't leave except to travel. She's hardcore into sports (beach volleyball, surfing, mountain biking, wakeboarding, snow skiing, rock climbing, etc... the list is VERY long) and wants to live were she can do all that stuff year round. So moving is out of the question for her. But sharing a place together would make it financially easier for me to get out of Dodge as much as I want, I also wouldn't have to worry about leaving a place empty for a long period of time. But the main change from before is that now with only one 20 lb dog, we can get a nice condo or townhouse within 2 miles of the beach rather then having to get a much more expensive house. I NEVER want to own a regular house again unless it's small and comes with a live-in caretaker :-)! UGH, hate all the work and expense of owning a house. Condos aren't great but the prices are sooooo low now around here that it's hard to resist. So it might be doable for us both. I'm writing a list of everyone suggestins to talk over with my sis to see where we each stand on the various issues (boyfriends, household chores, one wanting to move out, etc..) so any thoughts are helpful. Thanks in advance to everyone too!!
:thankyou:
Lindi,
I'm going to provide a contrary opinion. I don't think your sister should co-own with you. You are a free spirit and that is great, however not to be mean spirited but your track record in changing how you live is such that you are not stable. What I mean is, you change how/where you live frequently. Retired, moved to Big Bear, sold, went all around, then suddenly it seemed as if you bought in Temecula. Now I hear that you sold Temecula and are again house and essentially dog free and ready to travel around again.
I do think that you are someone who likes to have a base to live out of and to "come home to." I'm just not certain that you know where home is. Plusses to Orange County, the beach; plusses to Big Bear, the mountains; plusses to Temecula; cheaper and easy to both beach and mountains. Minusses to Orange County, conservatism and congestion; minusses to Big Bear, remote; minuses to Temecula; many McMansions and you have to drive long distances to get anywhere.
Perhaps you want to enter into a longterm lease with her, an up front downpayment to help her buy a bigger place and then a monthly "rent" that rises based on the CPI.
Ha ha - You haven't met my sister - even crazier then me :-)! Yeah the last few years have been VERY unstable for me but not necessarily because of me, but because of other circumstances. Having to care for elderly sick parents so needing to stay in SoCal, needing a home when I retired for my own 6 pets and getting one in Big Bear, selling that place after all my pets were gone thinking I was free to travel the world, then inheriting my Dad's 3 dogs shortly after when he passed away, and needing to buy a house (in Temecula) because I wouldn't be able to travel as planned with 3 dogs - and couldn't find them homes after almost a year of looking - and I also found it very hard to find rentals with 3 dogs, etc.. So you are right - very crazy! Made crazier by the fact that I've been trying (not very successfully) to make my own dreams happen dispite, and in conjuction with, having many "family" obligations and there fore not being able to live how I had planned. I kept trying many different things to incorporate those changes I hadn't planned for into my dreams, and talking about them all here, so I can see how it would seem very unstable to you - even though from my perspective it was allvery normal, serene, and sort of mundane part of life. Guess after years spent in the service, married to a guy in the service, and a military brat of a career service dad, moving around isn't a big deal to me at all - just a part of life. My sister is the same.
But now, with just one small dog (formerly my Dad's dog), I felt I was able to get out of hot Riverside County and downsize to something easier to care for, easier to just lock up and go but still a "home base" for the dog and I. I really didn't plan on buying anything yet, wanted to travel and rent between travels when I was back in SoCal. But then my sister got laid off on Dec. 31 and we started talking about getting a condo together as a way to make both of our finances go further so we both could be free from work to travel, play, etc... Still in the talking stage - and the looking stage to see what's out there. Hey, soon I'll be old enough for Leisure World or Laguna Woods - there's a thought :-)! Thanks for your insight though - I appreciate any advice - pro or con.
Bastelmutti
1-5-12, 5:20pm
My simple answer would be no. We rent from my parents and that's complicated enough.
All I can say is that is can work well, but all the legalities need to be taken care of. Details of exactly what will happen on 1. desire to move out, 2. Illness or disability, 3. death, etc. needs to be in writing.
There are just too many unintended things that can happen if it is not in writing and both of you protected from changes in mind, illness or death.
Have you tried living together?
Yes we've lived together before in a rental and get along fine - very well suited to live together. But buying together would a different thing with different long term issues as you pointed out. One of the reasons we talked about it was to actually avoid the illness, death thing. Neither of us have kids - or really any relatives - and we would set up a deed so that who ever out lived the other would automaticly become sole owner without having to go thru probate or do a trust, etc.. Getting sick might be an issue but it maight actually be easier if one of us had to care for the other. For example, when my sis tore her hamstring I helped her go to Dr's, Physical Therapy, etc.. If we lived together that would have been easier then if we lived far apart - and possibily in different states. Right now the only long term problems I forsee is the boyfriend issue - if one of us wanted a BF to move in with us. We already decided that wouldn't happen - or any long term stay overs. He better have his own place :-)! Financially my sister is even more of a simplke liver than me except for expensive sports gear - which she pays for in cash - and she has no debt and probably never will. Lifestyle-wise we are basicly the same - sports, recreation activities, etc... Both engaged in alot of activities - many together. And after my last dog (dad's dog) passes, neither of us wants any more pets, so that's not an issue. Neither of us watches much TV or entertains, and both are pretty much gone from morning til night - again often together doing things. Ummm... can't think of anything else right now.
Can one of you buy it, maybe her since she is the one who reeeeeaaaaallllllly wants to stay in So. Cal., and you rent from her? Then if anything goes sour, you can move and it won't be a huge to-do.
Can one of you buy it, maybe her since she is the one who reeeeeaaaaallllllly wants to stay in So. Cal., and you rent from her? Then if anything goes sour, you can move and it won't be a huge to-do.
No - neither of us could afford a place where we'd want to live unless we bought together - or got a mortgage and went back to work - NO WAY!!!. I don't really mind staying in the part of SoCal we'd live in if I can leave during the hot, smoggy, crowded summer and fall months. Of course we'd be living within a couple of miles from the coast which stays in the low 70's during the summer anyways so I wouldn't actually die :-)! I guess the bottom line is that I'm deciding if it's more important to stay living close to her - my only family as well as my best friend (as well as many other friends and activities I'm involved in in the area) - or more important to live year round in a place I love? Of course there are the positive financial aspects as well as the all VERY important dog and house sitting aspects too if we shared a place. Plus I really don't know where I'd want to live. There are many places I like - like New England - but I'm a practical person who realizes that the heating costs and high property taxes - as well as dealing with snow as I age - make that an impractical place for me long term. Same with other areas of the country I like. I figure I can visit place I like when ever I want, for as long as I want, without having to actually live there. Same with visiting other places around the world. Also, I guess if something happened between us (very unlikely when we may only see each other a few months each year) or one or both of us got married again, then we would both agree to sell the place unless we could buy each other out.
And, San-O Guy, as for me being unstable, I'm really not. Most of the moves I made were ones I DIDN'T want to make at all, but did so I could be there for my parents in their illness, or my (and my Dad's) pets. I pretty much have always wanted the same thing for myself as I always have - and have said it a million times here: "once my pets pass away I want to get rid of everything I own and do the grundgy backpacker thing around the world for a few years before settling down into a small condo or apt in a great small city". My desire to do that has never changed but outside circumstances have prevented me from doing that. And now that I have a young dog (who I'm crazy about BTW!) I won't be able to do that as I had planned. So, as before when making the choice to move, like to Temecula when I inherited 3 dogs (even though I really didn't want to buy another place - certainly not in Riverside County) or moving down from Big Bear to Huntington Beach so that I could take care of my Mom everyday (you know how bad that drive is even in good weather - way to bad in any storm or snow), I am looking at a compromise that will allow me to do as much of the things "I" want to do, but still provide something secure and familiar for my dog. I think that's pretty stable. Now if you're talking about "mentally" stable...welll, that's debatable :-)!
I am more anti-condo than anti-buying property with relatives. I hate the idea of condo boards having free reign with my money to potentially do outlandish things. Why I would rent for a year or two with sis before buying.
She-Ra, I know how many of your moves had to do with taking care of pets, and I thank you for that.
chrisgermany
1-6-12, 3:21am
Given your close relationship and characteristics it might work out well.
However, I would lay out both side's expectations and ground rules (incl. cleaning frequency) in great detail and in writing.
The little things usually spoil such arrangements, not the big ones.
I am more anti-condo than anti-buying property with relatives. I hate the idea of condo boards having free reign with my money to potentially do outlandish things. Why I would rent for a year or two with sis before buying.
She-Ra, I know how many of your moves had to do with taking care of pets, and I thank you for that.
You're welcome!! Only us crazy dog people would understnad the sacrifices we make for our "kids" :-)! I will say that I went thru a MAJOR very black depression for awhile once I ended up with my Dad's dogs. I was finally in that place I had spent years waiting for (home sold, no pets, new backpack, money in my pockets, and a shiney new passport :-)) only to be "trapped" again into a life I really didn't want - for what may be 10 or more years. Talk about throwing myself some serious weeping and wailing pity parties :-)! But, after a year of trying to find them homes (and living in vacation rentals back in Big Bear) I just decided that I will make the best of it and try to find a way to take care of them as well as do at least some of the things I wanted. Now I'm in a better position to do that since 2 of them passed away and the little one can go with me or, if I live with my sister, stay with her. More freedom. While it's not my ""grundgy backpacking world travelling dream", it's pretty darn nice :-)!
I also am not a big fan of condos but houses in SoCal is still outragously priced if you want to live near the coast where as condos are much much more affordable. When we had first talked about this last summer, we looked at alot of houses and the only thing you could find near here (Huntington Beach) were very old seriously run down and needing many repairs places for around $300K plus. Too much even if spliting it. But condo/townhomes can go anywhere from $100 to $200K for a 2 or 3 bedroom 2 bath with a 2 car garage and a small yard area. Much more affordable if we split it. My sister currently owns a paid off very small one bedroom so I can't share with her long term, but we've lived together for several years before so we've had our trial run already. I'm trying to think of more long term possible problems - and stuff like Chris in Germany mentioned - the day to day things like cleaning, etc.. - so we can talk about them before we make any kind of move. Except looking - looking is fun :-)!
I'd do it. Though I agree with Shadowmoss. Get everything in writting and plan for every possiblity. Think worst case and you'll be well prepared and those minor bumps will be inconsequential.
I wouldn't hesitate if I was in your situation. My sister and I are close and have very similar feelings about money and possessions. When our parents died there were no squabbles when dividing up assets. It sounds like you would approach this in a business-like manner so that if situations changed there would already be in place the correct actions to take, like if one of you decides to get married. So just make sure you hire a lawyer to set this up and perhaps think of more specific situations that need to be addressed that you may not have considered.
One thing that came to mind was utilities and association fees. Decide if you share them equally or if your sister is responsible when you are gone. (perhaps you both will be responsible for association fees but split utilities when you are living there?)
Best wishes and have fun looking at places, maybe a situation will reveal itself that you haven't thought of yet.
I wouldn't hesitate if I was in your situation. My sister and I are close and have very similar feelings about money and possessions. When our parents died there were no squabbles when dividing up assets. It sounds like you would approach this in a business-like manner so that if situations changed there would already be in place the correct actions to take, like if one of you decides to get married. So just make sure you hire a lawyer to set this up and perhaps think of more specific situations that need to be addressed that you may not have considered.
One thing that came to mind was utilities and association fees. Decide if you share them equally or if your sister is responsible when you are gone. (perhaps you both will be responsible for association fees but split utilities when you are living there?)
Best wishes and have fun looking at places, maybe a situation will reveal itself that you haven't thought of yet.
Assn. dues would be split equally - as well as any repairs, maintenance (not much in a condo), insurance, etc... - and utilities would be split if we are both there and covered by who ever was living there during that month if one of us were gone. My sister is an even bigger world traveller then me and travelled non-stop around the world pretty much from age 18 to 35. So she wants to do alot of travelling if she can retire now -especially to Third World Countries. So she would mostly like be gone many months out of each year galavanting somewhere around the globe in true grundgy backpacker style - makes my trips look luxurious. Probably during the winter and spring for her - summer and fall for me. Might never see each other :-). We also never had issues when our parents passed away. We agreed to everything and never had fights or disagreements. Although we do sometimes fight about clothes since we borrow each others stuff but what sister's don't !
ETA: Will be off line or online rarely for a few weeks as I am house-free as of today - YAY! At the old place finishing up some paperwork and then will hit the road. Keep any suggestions coming - I appreciate it!
:thankyou::thankyou:
It sounds like a solid, workable plan to me: a winning combination of freedom and security.
I'm leary of condominiums for the reason Iris Lily states--especially because I've lived in one--but in your case, you shouldn't really be bothered much by the old busybodies who run the place. After all, you won't be there much. I say go for it. And don't forget to post pictures!
I wouldn't buy a house with a relative. But that is a reflection more on my relatives than on it being a bad idea.:~)
This sounds like a good option for you and your sis.
CaseyMiller
1-10-12, 1:57am
Sounds pretty good but I recommend caution. I’ve just found that, when it comes to money matters, otherwise very good people tend to rationalize questionable behavior. No matter how much planning is put into such arrangements, often some unforeseen event occurs that could trigger suspicion, jealousy, envy etc….
The biggest risk isn’t losing money. The biggest risk is irreversibly damaging the strong loving relationship with your sister.
Wildflower
1-10-12, 3:56am
Yes, I would buy a house with my sister if I were single, or with my adult DD, but no other relative would I trust to do so with....
San Onofre Guy
1-10-12, 10:59am
Don't even mention that horrid word Leisure World! I think that place represents all the worst things about Orange County. Fake, "perfect", and full of rules. Not a place for simple livers who love freedom.
Don't even mention that horrid word Leisure World! I think that place represents all the worst things about Orange County. Fake, "perfect", and full of rules. Not a place for simple livers who love freedom.
You mean "Seizure World" isn't your dream place :-)! I actually like it there and have thought that once I was old enough (55) to live there it would be an ideal place for my version of simple living.
My Mom lived in the one in Seal Beach for 11 years (much less fancy compared to Lagiuna Woods) and I was there alot so got to really know the place. I think I liked it because it was inexpensive to buy there (one bedrooms start at $50K and 2 bedrooms start around $80K), the assn dues were very reasonable compared to other complexes, the units are all ground floor with no one above or below, and have huge greenspace/greenbelts with lots of trees between each group of units (6 attached to each other with front patios facing the greenbelts), there are a ton of on site activities - something like 150 clubs you can join, a realy nice gym, pool, 8 clubhouses, a small golf course, and miles and miles of walking, running and biking areas in the gated community. Also within the gates are several churchs, a post office, library, RV parking, community gardens for growing your own veggies, workshops (wood, metal, auto, crafts, etc...), a big medical center with several Doctors, an ampitheatre with free weekly concerts - many once-upon-a-time famous people like Pat Boone play there (will be Debbie Boone for the current generaion :-)!), a free mini bus to get around the place that also goes outside the gates local shopping, down to the beach (less than 2 miles away), to hospitals, etc... And, unlike most other condo complexes, you can actually make some changes to your unit if you want. Some times big changes like removing walls and expanding your living area into your patio, putting in different doors, windows, skylights, etc... So they look a little more individual then most regular complexes. And being that it's an "active 55 plus" community, there aren't any kids living there except visiting ones. Not having kids myself I like that - although they do allow small pets.
While it doesn't have anything set up to care for elderly people if they need help (you have to be able to live independantly to live there or hire outside help yourself) like home health aids, nursing or convelesant care, etc.., it's a good place to grow old in because things are set up to make things easier for elderly people to get around and be as independant as possible - like no steps, buses to shopping once they can't drive any longer (and you can also drive electric golf cart within the community and outside to the local shopping), doctors on site, 24 hour nurse on site for emergencies, security, maintenance help with pretty much everything ioutside and inside your unit, etc... And, most importantly, all those big casino buses come by everyday to haul the seniors off (for free) for a day gambling ;-)!
Got to wait until I'm older but it's actually a place that I could see myself living. No maintenance to do, low utilties and assn fees, low buy-in, safe, close to the beach - and a nice little beach town - as well as many of my daily sport activities like beach volleyball, kayaking,biking, etc... just down the street. And being able to just lock the door and go for months at a time without worrying about the place is a BIG positive for me. But the units are too small to share with my sis - even the 2 bedroom/2 bath ones - so would only move there if I was living alone - or with Brad Pitt :-)!
www.lwsb.com if anyone is interested.
Well, I've never done it myself...but there is a young couple in their early 30s with a son around age 8 who live 2 doors down from us. They live in one side of a "double" and the guy's mom, in her 50s, bought the other side. They all share the yard and have an above-ground pool, lovely garden, etc. It seems to be working out quite well for them.
I would share a duplex with my partner without a second thought, and possibly acreage with siblings, but that's about it. I'd share my house with cats if I hadn't successfully talked myself down...
I fail to see how this is vastly different from, say, an unmarried couple buying a house together. You know each other well, you've lived together before and you're considering any of the logistical and legal issues that you'd have to take care of. If you do your homework on the condos you'll know the risks (how the maintenance fees are calculated, how they've figured it, etc) and the rules (make sure to read the HOA beforehand and talk to other potential neighbors). Sounds like a win-win to me: free house-sitter and good roommate in a paid-off place. That's a lot of folks on this board except they like to travel with their partner/spouse so the house-sitter part isn't there. If you're craving freedom to travel, this sounds ideal. I'm guessing there's a lot of couples out there who've thought through their lifestyles a lot less than you and your sister have but they work it out somehow. You probably know the risks a whole lot better, as well as the upside. Good luck, sounds fun!
Don't even mention that horrid word Leisure World! I think that place represents all the worst things about Orange County. Fake, "perfect", and full of rules. Not a place for simple livers who love freedom.
I posted a bunch of pictures of 2 "Seizure World" units in my albums here (click on my name, then view profile and then click on albums to see). Both are 2 bedrooms and are $85K. Not too shabby for a condo less than 2 miles from a SoCal beach where houysing prices are in the $500K range! They are "basic" units in that they haven't had any upgrades or extentions so are less expensive. They go upwards to $300K for a unit that has lots of work done to it and is fancier. I'm a "basic" girl myself so rather have the cheap place! Gotta wait until I'm older though.
I fail to see how this is vastly different from, say, an unmarried couple buying a house together. You know each other well, you've lived together before and you're considering any of the logistical and legal issues that you'd have to take care of. If you do your homework on the condos you'll know the risks (how the maintenance fees are calculated, how they've figured it, etc) and the rules (make sure to read the HOA beforehand and talk to other potential neighbors). Sounds like a win-win to me: free house-sitter and good roommate in a paid-off place. That's a lot of folks on this board except they like to travel with their partner/spouse so the house-sitter part isn't there. If you're craving freedom to travel, this sounds ideal. I'm guessing there's a lot of couples out there who've thought through their lifestyles a lot less than you and your sister have but they work it out somehow. You probably know the risks a whole lot better, as well as the upside. Good luck, sounds fun!
I guess it is the same - sort of - I hadn't really thought of it that way. When (now ex) DH and I bought a house my sister lived with us for a year. She paid rent and helped with alot of chores and it really went along way towards helping with our expenses. After she moved out and DH and I divorced, I bought him out of the house and stayed there, I got a couple of roommates to help with expenses. At another point in time Sis and I rented a place together for about a year. So we have lived together before with no problems and could probably do it again with no problems. We probably would travel together a bit but we have different travel styles. She's VERY hardcore with her travels - 6 months sea kayaking the Aleutian islands and inside passage in Alaska or wilderness backpacking months on end in very remote third world areas of the world kind of travel, where as I'm more sedate in my adventures - a hot bath, cold beer, and warm bed at the end of a day of hard hiking or kayking for me :-)!
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