Should I buy a forever home with my parents to save on interest?

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ProDapperWaffle

New Member
Hey lads,

Running a hypothetical. It’s an option we’re considering. Would love thoughts or feedback from anyone with similar experience.

We may buy a new PPOR. Forever home. Big block, big house for the kids to grow up in. Pool, fire pit, playground. 3,000-4,000m2 block. Thinking of doing it with the parents. Their house is worth 2.5-2.7m. Purchase circa 1.6-2m. Then build them a home. Not a granny flat. Fence it off for privacy.

It would allow us zero interest on the forever home. We could invest in more business and properties. All other buckets full.

My fear: wanting out if plans changed. How that might affect the olds. Not that I think it would. Open to thoughts I may not have considered.

Edit - we’d have 1m liquid to add. Them using their funds + ours means we wouldn’t need to sell all assets. We could continue building wealth as a unit.

Thanks in advance.
 
You're working off the assumption council will allow 2 dwellings on a 3 40,000 sqm block. That's v unlikely , and fam issues if there are any other siblings from you benefiting more than bros/sisters at estate time is a very real problem to consider.
 
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