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Financial Planning / Tax Strategies
|Subject: Re: Taxes and roommates||Date: 6/18/2013 10:28 AM|
|Author: 2gifts||Number: 118718 of 122842|
Oh, no, you're not being scolded. Scolded is more like,
"Use your d@mn head for something besides a wig stand, will you!" Notice the subtle distinction?
Thanks for the chuckle!
Well, your multiple goals are in conflict, beyond it being a matter of priorities. And you need to get REALLY CLEAR about which it's going to be, for DS's sake. Is he going to end up being a homeowner, or just the interim resident caretaker of your future retirement home? That little question needs to be nailed down solidly, before you get into a convoluted ownership/rental arrangement.
First priority is to get DS affordable, decent housing. If he ends up being there temporarily, it would be OK for us to end up with the house as a retirement home, but that's a side-bar. I can think of lots of other scenarios such as he doesn't end up liking living there, so we rent it out, sell it, or opt to move in ourselves as a retirement home. But first priority is his housing. Anything else that comes out of this would be gravy. I would like the flexibility in this instance to belong to him and not necessarily to us.
He might kill the whole idea if he just doesn't like it for any reason. I can think of lots of reasons he might not like it - not wanting the financial responsibility to collect rent, not wanting to have to do homeowner maintenance like mowing the lawn and shoveling snow, not wanting to feel the pressure at this stage of having a mortgage or owning a house, etc.
Right now, though, I'm trying to look at it from my perspective to see what might be possible, and I thank everyone for the help.
I will cross-post to the other board that was mentioned.
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