would you consider living with your bil and sil to own a decent house on li

Dh and hisbrother are very close and they want to buy a 2 family house and have us live together- We cant really afford anything decent on li- we currently both own co-ops. Im not so sure though, Although we hang out all the time, I have had problems with them in the past and it seems a little close for comfort for me but we would be able to afford something very nice if we put our money together- what do you think?

Re: would you consider living with your bil and sil to own a decent house on li

I think it might be worth a shot if it's a two family house. I think it would be nice to have family so close, and even though you are living in the same house, you are seperated, so you'll still have your space. Craig and I rented for years from a two family house in Seaford before we bought our home, and we hardly ever saw our landlord, even thoguh they lived right downstairs. It will also help you save up money if you wanted to buy a place of your own in the future, so if you all get along for the most part, I don't think it's a bad idea at all. Prices here on LI are just retarted now, so I think it's worth it to have a nice house if you can split it with family. Good luck!

Re: would you consider living with your bil and sil to own a decent house on li

I say do it, its not forever, look at the positives from the situation. You can save lots of $$$$ which you will need , the houses keep going up and up.

Re: would you consider living with your bil and sil to own a decent house on li

At first I thought your post was going to say in the same house and I would have said NO! But a two-family house is a different story. It is a great beginning and if it will get you into a home, I would go for it. In the future, you could keep it as an investment opportunity and rent it.

Re: would you consider living with your bil and sil to own a decent house on li

Hmmm. This seems to be along the lines of mixing business with pleasure and I'm not sure I would do that. You seem pretty hesitant - I'd bring those issues out in the open now with them and have serious discussions on the boundaries, etc. Then decide if you can work with it.

Re: would you consider living with your bil and sil to own a decent house on li

I would do it as a stepping stone to one day own your own home. If it was me, I would make sure it was a LEGAL 2 family with seperate EVERYTHING (seperate attics, basements, LRs, Kitchens, entrances, back doors, etc.) My friend just bought a house like this with her BIL and things are OK but boundaries need to be established. Stuff like, who maintains the outside of the house? Who would pay for repairs to the house if it involved somethng used by both parties, if one person wants to sell...can they even if the other person doesnt want to? Stuff like that. What if you and DH bought the house with BIL and then you just HATED it...could you get out of the house and move? What if BIL didnt want to sell? Also who's going to get the mortgage? All 4 of you? How will it be paid...what if someone cant come up with the money one month, what do you do. Just things like that...I would have to have a serious talk with DH before anything.
Not to be all negative though - you will be a homeowner and that is SO exciting!!

Message edited 5/12/2005 9:58:06 AM.

Re: would you consider living with your bil and sil to own a decent house on li

I could never do it with MY BIL because he drives me crazy I would love to do it with my sister because we are so close...but we would drive both of our husbands crazy

Re: would you consider living with your bil and sil to own a decent house on li

I would work out some details say, you finally gain enough income to do your own thing, who is gonna be pay for what.... my friend is having this probelm when she brought a house with her mom and now, really cant move out cause she (mom) cant afford it if the daughter wasnt there