Should we move in with in-laws to save on daycare and pay off our mortgage faster?

[reignhippie88]

Trying!to figure out if moving in with the in-laws is a smart move. We have a 660k mortgage, a one-year-old, and my wife is going back to work soon.

Would it help to move in with her parents and rent out our house? We think we could save on daycare since her mom is retired and happy to watch the baby. We could also pay off the house faster by adding the rent to our normal payments. Am I missing anything?

 

[ANT]

You might save on rent, but your mental well being could pay the price.

Remember to do a risk assessment.

 

[Breadzilla]

Financially, it will benefit you.

But do you want constant in law input into your relationship, your child's upbringing, and all that comes with it?

 

[MangoChicken98]

I'd rather stay broke then live with my parents or in laws . I value my mental health & family's privacy over any money . Great way to screw up family relationships & your own too. My advice? Steer clear unless u got a separate place or granny flat etc .

 

[hahaimperial400brick]

We moved back in with my parents while building a new house with our four kids. It was okay having babysitters around and only having to cook a couple nights a week. My mom handled most of the cleaning and laundry, which was a bonus. But the downside was having no personal space.