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NWR: What would you do?

As many of you know Fi and I do not live together and dont plan on it till we get married. I have been looking at apartments all over Miami ( I am in love with the apartments at Infinity at Brickell) Fi's parents just opened their own real estate investment firm, so besides export to Brazil, now they can invest in properties.The first property they purchased is a warehouse for the business.She approched me yesterday and told me that they are looking to buy an apartment and they would like for us to be their tenants. She told me that we can rent from them for way cheaper than the normal price for apartments since they will buy the property cash and have no mortgage or we can buy the property little by little from them till it's paid off. She even gave me an area where to look ( Bal Harbour, Surfside, Sunny Isles). Fi likes the idea, I feel weird about it...What would you ladies do?
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Re: NWR: What would you do?

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    FaithCaitlinFaithCaitlin member
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    edited December 2011
    I'd probably feel a bit weird about it too but I would definitely do it if money is tight. It is nice of her to offer!

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    cmp1986cmp1986 member
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    edited December 2011
    Why do you feel werid about it? Is it because his parents are offering it or is it because you'd have to move in together before your married?
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    edited December 2011
    I would feel weird at first but, after the reduced rent payments... I would feel ALOT better :)
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    edited December 2011
    She knows we would wait till the wedding to move in to the place. It's just too generous, she sees it as since we are gonna rent anyway why not pay them the rent and have a better rent rate....
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    edited December 2011
    Eek... that's a tough one.

    On one hand, it's great that they are willing to help you out, and cheaper rent is also a very nice perk...

    On the other hand... your future inlaws will be your landlord.  And have you ever had problems in an apartment where you needed to contact your landlord to have something fixed that was their responsibility?  I would feel uncomfortable calling them up and telling them something needed to be fixed... and fixing it yourself doesn't seem right if you don't own it.

    I think it's great that they want to help you, but personally, I would be uncomfortable too.  I wouldn't want to feel that I was in debt to my FMIL.

    I would rent somewhere else and save money for a house or condo in my own name - then at least you can get the tax benefits.  And I would ask my FI to nicely explain it to them.

    But that is just what I would do... and you will be fine with whatever you decide to do, either way.
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    edited December 2011
    I can totally understand why you're hesitant.. however, to be able to save on rent (where the price might be twice as much renting it from someone else) COULD make it worth it! I know people who've done it before and it's worked out well but every situation is different.
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    edited December 2011
    I agree with BlueEyedBrideFL but it also depends on your relationship with your in-laws (everyone's is different). I'm really close to my future in-laws and they have offered us similar help (we just moved back and had quit our jobs to do so). Your FMIL is making the offer because they want to. It helps you save money which in the long run helps you out as a couple and family and I'm sure that's what they want to see. But you do have to be careful about the whole landlord thing. If there is the potential to buy it from them or something slowly like you mentioned, maybe you can talk to them about the responsibilities of maintaining the apt upfront so there aren't any misunderstanding? Ultimately, family is one of the best resources we have and it's great if they are in the position to and willing to help. I think open communication is the key? Just my thoughts. Good luck! Also think of it this way, would you be feeling weird if your mom was making the same offer?  
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    anaroo87anaroo87 member
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    edited December 2011
    Well I've been in a similar situation twice...
    In college, my best friend convinced his parents to buy a condo and he, my FI and I all moved in together. It was great for a couple years but then eventually he got a girlfriend too and now it was 4 of us living in this small apartment and at the same time, FI and I were going on 4 years of our relationship and felt like we wanted to move things along and get our own place. The trouble was that we knew if we broke our "lease" with my friends parents, they would have a hard time finding someone new to rent our room. We ended up doing it anyways, figuring we couldn't just live their out of guilt. But ultimtaley, they had to foreclose on the condo because they couldn't afford it themselves and had no one to rent it. His parents never blamed us or even gave any hint as if they were mad at us, but I've always felt guilty like it was technically our fault. For about 2 years I tried to completely avoid his parents because I felt so bad.

    On the other hand, this guy who has been a long time family friend is also my moms business partner who owns several investment properties. My mom manages many of them and when we moved from Tampa down to SFLa, my mom suggested that we rent one of the townhouses. I felt weird about it too and felt as if I would feel ... obligated  in some weird way. Well, when I realized how much money we'd be saving on rent .. and the other conveniences, such as not having to pay deposits or prove we make 2.5 times the amount of rent or pay pet deposits / monthly pet fees and all sorts of crap apartments come up with these days ... all the weirdness, etc completely went away. It's actually the only reason we were able to start saving up and planning our wedding. I actually think about moving all the time because I want to be a nicer, newer (and bigger place) but I hate the thought of letting go of my awesome rent payment.
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