The answer is simple. Congratulations. You have a place to live rent free. If you want to retire early, max out your investments. Get a clear understanding of what your responsibilities are with respect to house expenses. I see you as a renter who is charged zero in rent at this point. You will have expenses for routine maintenance.
You should make sure that your girlfriend is aligned with you on finances, retiring early, and how you both interact with the family. You have a great opportunity to help her become debt free and start saving more. I wouldn’t ask my girlfriend to pay rent when the rent is zero. I would expect my live-in life partner to contribute to the monthly ”family” expenses in whatever proportion you both agree too.
I see the house as an opportunity for you both to save money. It doesn’t make sense to make any meaningful improvements as a renter. An oral promise made with grandpa or dad is meaningless. The Trust is a legal document.
If the house and location is accepted, I’d live cheaply with my partner. Eventually, best case, you are 1/4 owner. The other three will likely want to sell the house or start charging you rent. You may outgrow house if you have a family. These are all things that you can deal with when the time comes.
You should make sure that your girlfriend is aligned with you on finances, retiring early, and how you both interact with the family. You have a great opportunity to help her become debt free and start saving more. I wouldn’t ask my girlfriend to pay rent when the rent is zero. I would expect my live-in life partner to contribute to the monthly ”family” expenses in whatever proportion you both agree too.
I see the house as an opportunity for you both to save money. It doesn’t make sense to make any meaningful improvements as a renter. An oral promise made with grandpa or dad is meaningless. The Trust is a legal document.
If the house and location is accepted, I’d live cheaply with my partner. Eventually, best case, you are 1/4 owner. The other three will likely want to sell the house or start charging you rent. You may outgrow house if you have a family. These are all things that you can deal with when the time comes.
Statistics: Posted by Wiggums — Mon Aug 19, 2024 5:51 pm — Replies 42 — Views 2142