Buying girlfriends parents house, bad idea?

[rb26]

Hi all,

Looking for some advice on the above. To give some context, my girlfriend and I have been in a relationship for 3 years now, and moved in together (rented apartment) last October. With the odd fight over stupid stuff, it's been pretty great and I do see myself being with her for the long term.

However, her parents are going through a separation and, due to the division of assets, are looking to sell the property. The mum doesn't want to sell, she works at the local school, doesn't drive and basically her whole life has been spent living in that home.

The idea of buying the property with my girlfriend and renting the property to the mum (rent paid to cover all associated costs) has crossed my mind. For me the pros and cons are;

Pros
Get onto the property ladder (Birmingham property, Harborne)
Have all associated costs of the property paid for
Father gets a clean break and half of the house value
Mum gets half and to stay in the house indefinitely
Solid tenant that will look after the property.

Cons
Both of us would lose our help to buy allowance (6k total)
I'm very much committed to the relationship at that point
Doing business with extended family, could change the dynamic?
Her brother might come after us when their mum dies?

Any comments or input would be helpful, as well as what legal professional I should seek advice from.

Cheers.

[Voldemort]

Head says take solid advice, draw up rock solid agreements, etc. Heart screams DON'T DO IT!!!

[Dixy]

DO NOT.
Speaking from experience.

[jfdi]

If you want to get on the property ladder then buy somewhere and rent to someone you have no emotional attachment to. When they causes issues, can't pay the rent etc etc then you can remove them and start with new tenants and hopefully still be in a relationship. Can't see any of that being possible when it's the mother-in-law.

[85Carrera]

Voldemort said:

Head says take solid advice, draw up rock solid agreements, etc. Heart screams DON'T DO IT!!!

Surely head says don’t do it!

[mwstewart]

That has potential future complication written all over it, more so given that the mother doesn't sound like the type to stand on her own two feet. Personally I'd avoid at all costs.

[The Road Crew]

This has all the ingredients of a perfect 'recipe for disaster'.

You must be mad.

[WY86]

Mum staying in the house.... might cramp your style a little. just remember birds of a feather flock together so if you and your GF have an argument, she has back up.

Also how much of an emotional attachment does the mother have to the house? Would she find it difficult to process it is no longer her home and it is yours and your partners? she would have no say on decorating or furnishings.

i dunno the more i think about it the more i would decline said offer.

Edited by WY86 on Tuesday 25th October 13:03

Edited by WY86 on Tuesday 25th October 13:05

[CharlesdeGaulle]

If you were wealthy enough to do it as a favour to them both I might think you could consider it. Assuming you need the rent and, ultimately, the capital back for your own purposes, I'd advise against. Strongly against. Like, really, really strongly against.

[GR86]

Please don't do this.

Doing this would put a lot of pressure on your relationship. It's not your responsibility to fix her mum's life. What happens if you split? what happens if her mum can't pay the rent? what happens if you have kids and can't buy another property without selling her mum's home?

Things with your gf might seem great now but people change.

[pork911]

Just don't, really.

[pork911]

(and if not mentioned to gf don't, if have then backpedal like fk)

[mattyprice4004]

Nope, nope nope.
A terrible idea with little to gain and everything to lose

[eliot]

Dont do it - will end in disaster.
Mumsy gets ill, sacked or falls on hard times - GF says let her off the rent rather than evict her.

Eta - how would you ever get her out the house, the emotional blackmail would be strong.

Edited by eliot on Tuesday 25th October 13:15

[darreni]

Remember the old adage; just because you can, doesn’t mean you should.

[dundarach]

Another don't do it.

Or

Let her buy it, in her name and pay her rent.

Or

Just don't do it.

[littlebasher]

Pros

Brownie points with her mum

Cons

EVERYTHING

[fat80b]

The problem you now have is that you can’t win either way

Either, you buy the house and end up with a whole world of problems in the future. (Definitely don’t do this)

Or (more likely) - you go to the GF and say that you don’t want to and because the idea has already been floated with the GF and MIL, you are to blame for the MIL having to leave the family home.

No good outcome I can see….

[Snozzer]

Money and Family don't mix, don't do it!

[vulture1]

Jesus christ you had to ask!

Why did the parents split up?

Never ever do business with family or friends.