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Anonymous
Is it strange to have this kind of thought? Or maybe we would still purchase a house but rent it out for passive income and continue to stay with my parents/in-laws.
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Tan Choong Hwee
01 May 2021
Investor/Trader at Home
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My plan came as an afterthought after we stayed with my in-laws for a few years while waiting for our house to arrive and other commitments came along the way that we need to stay put. Although some cost is saved with the sharing of expenses, there will be long-term responsibilities that cannot be measured monetarily and dependent on how communications is like when living together.
It was comforting that we can get along well with my in laws and we used our house as a weekend house to visit my parents who is staying at the other end of Singapore.
We have to explore supporting my in laws' retirement through renting out our house since we are still staying together and my in laws can't monetise their house. But renting also not as easy with the current climate.
At the same time, can't sell my house as I need to buffer proximity for my own parents' caregiving needs or what if we really need a place of our own in the future. So the consideration is much more systemic and marriage combines the resources and challenges of two inter generational families.
Every family is also different. I would say take some time to discuss with your husband-to-be. Hope my situation helps to expand the considerations you need to think through.
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No right no wrong, depends whether you can live with your inlaws in peace. I always hear people say live with inlaws will have tension, but i believe doesn't apply to all families also
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Purchase house then rent out. Live with parent/in-law can help u take care kid, money save in childcare, just give that money to ur parent/in-law.
Win - win situation, everybody get richer. Provided u/ur hubby can get along with parent/in law
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Jiayee
09 Jan 2021
Salaryman at some company
Not weird but your S.O. has to be comfortable with this. However, if he isn't comfortable with this ...
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If all of you don't mind, why not? It is a great opportunity to develop a closer relationship with your parents/in-laws and indeed a huge savings, which can channel to investment, including property investment.