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    Default would you move in with in laws to get rid of your debt??

    So, what would you do if yoy were in my situation - we bought a building which is almost completely renovated and we ll open a business which will be dh s full time job. I ll work there too casually but will keep my occupation as worked hard to be where I am (uni pkus extra study etc). So we own our house but have a loan on building plus all renos cost more than budgeted. If we sell our home we could be debt free.
    In laws have huge two level house. Levels have separate entrances. Our would be lower level. Would have ti spend some money renivating but would end up with 4 bedroom unit. Backyard would be shared and wouldnt have garage. I like the idea of being debt free and mil loves loves our kids and would absolutely love to have them around more. Its only 5min drive away fromour home. Kids would be able ti spend more time outside I the garden as mil loves gardening and I dont really. Would be easy when I go back to work if I am oncall etc. What I dont like is they are huge hoarders while I am an absolute minimalist and hate keeping things I dont use. Also wouldnt have much space for parties and I love entertaining. And lastly discipline and kids, as they would be spoiled by ils and obviously I would be too embarrassed to yell at kids but that would make me a better mum? What do you guys think? Anyone been in this situation? My dh wont do it so its just playing on my mind. I think it could work really well and we could spend money on holidays etc..

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    Default would you move in with in laws to get rid of your debt??

    I think if parties and entertaining is part of your lifestyle this doesn't sound like a great idea.
    Also it's their home so if they hoard, unfortunately that's the way it is.

    It seems to me you need to decide what's more important:
    1. Lifestyle now - freedom to do what you want at home without influence or impact from others but have debt for longer

    2. Lifestyle impacted for now to be debt free.

    Isn't another option selling your home, becoming debt free but renting so you have freedom of lifestyle but are starting again essentially? Just a thought although I may have misunderstood

    I think only you guys can decide what's most important to you as everyone's values, expectations and wants are different.
    Last edited by TheGooch; 14-07-2015 at 20:34.

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    Sirena89  (14-07-2015)

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    I love my in laws but no way!

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    Sirena89  (14-07-2015)

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    Honestly no at this point I wouldn't. The thought of being debt free is everyone's dream but is it necessary to live that dream at the moment?

    Are you financially struggling and need to do it in order to live?

    It's a big thing moving in with family (separate entrances aside) and I wouldn't do it with my parents or my in laws unless it was an absolute necessary. I'd love to be debt free but I think it's important to have a lifestyle for my family not have to fit in with my parents.

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    Default would you move in with in laws to get rid of your debt??

    I would never sell the family home for a business venture. Can you sell the business to be debt free?

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    Sirena89  (14-07-2015)

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    Not if the debt was manageable, no.

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    Thanks guys.. paying rent would be like paying off mortgage and we would live with them for free forever lol amd business is my dh dream cone true.. if one of them was (I hope that never happens) sick I would move in an instant to help out. I love them dearly. But yeah it would be hard to give up the freedom and personal space I now have. That and all the memories! This has been our first home together. Dh worked hard on this house and built it for us and we raised all our kids here so far.. but I then think of giving my kids that special childhood spent outside and with grandparents more, if you can understand what I mean,.. as I now tend to be more on my own or want to socialise with peopley age or with kids my kids age..

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    But if you only live 5 mins from your parents can the kids not have that special childhood with them yet you still keep your space?

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    We just moved out of my inlaws.

    We did not save money AT ALL! We were supposed to but my MIL drove me insane the whole time (and like you I didn't stand up for myself etc). So I ended up going out a lot etc. the kids weren't allowed to do a lot of things and I felt I had to clean up etc 24/7 where as if it's my house I might have a lazy day hope that makes sense. It became awkward and now our relationship is very strained.

    If I was you I would move to a smaller area and maybe rent your house out? What would the rental income come to?

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    I would consider if it you had a few things boundaries down to begin with.
    As for them being hoarders if you have a completely separate 'unit' i dont see how that matters.

    I think you'd get more comfortable disciplining your kids around the inlaws as time goes on.

    Ask them to spoil your kids with their time & affection rather than possessions & treats

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