My wife and mother have been throwing this idea around the past few weeks and I'm starting to give it some thought. I bought my current house when I was 24 and didn't really take things into account like school district, house/yard size, etc. I was just more worried about having a place of my own and a garage to wrench on my cars in.
Fast forward 5 years and I now have a 1 year old. The town I live in isn't the ghetto or anything but as anyone with kids knows, you want the best for them and there are a few other school districts in the area I'd rather he be in when he starts school. Also, we have a little 6k sqft subdivision lot so it's not much room to play or do much of anything. The original plan was to sell in a few years and just upgrade to a bigger house at that time. Now the plan would be to sell our current house now and move in with them in order to bank what we would normally spend on mortgage/taxes/insurance/util/etc. It would be a decent little chunk of money if we did it for a couple years.
At this point, I'm not really finding any downsides other than having to share a home with my mother again but I did that for almost 19 years anyway.
Could you swallow your pride and move back in with the 'rents to bank some $$$ for a future home purchase?
Fast forward 5 years and I now have a 1 year old. The town I live in isn't the ghetto or anything but as anyone with kids knows, you want the best for them and there are a few other school districts in the area I'd rather he be in when he starts school. Also, we have a little 6k sqft subdivision lot so it's not much room to play or do much of anything. The original plan was to sell in a few years and just upgrade to a bigger house at that time. Now the plan would be to sell our current house now and move in with them in order to bank what we would normally spend on mortgage/taxes/insurance/util/etc. It would be a decent little chunk of money if we did it for a couple years.
At this point, I'm not really finding any downsides other than having to share a home with my mother again but I did that for almost 19 years anyway.
Could you swallow your pride and move back in with the 'rents to bank some $$$ for a future home purchase?