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Anonymous
Should I buy a condo with my parents?
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Oh ChengKok
12 May 2021
Financial Services Consultant at AIA Singapore
Affordability aside. It depends on the intention of getting a house.
A possible intention could be to stay in a condo with your parents and renting out your existing place. You will have a "higher standard of living" while your parents getting rental income every month. If that is your intention, I think that is fantastic.
Looking forward to hear from you.
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Jiayee
25 Nov 2020
Salaryman at some company
In addition to YJ's question, you also need to check out Hariz's answer regarding affordability http...
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With zero plans of ever getting married, the first thing to consider is whether your parents are happy to let you stay with them. This will even enable you personally take care of them as they get older, without stressing out about kids and spousal demands.
I think the money aspect is a secondary issue. That's because if it is a joint purchase, y'all only need to discuss the most important points i.e. contributory amounts and percentage of ownership.