Sold my House

[bjl584]

I will be closing on May 6th. I decided a while back to sell my place and relocate closer to work, family, and friends. I'm tired of being an hour away from everything. I finally found a buyer about 6 months after I put the place on the market. Not a bad timeframe for this economy. It is certainly going to be nice not having a mortgage or utilities for a time. I am not able to get, nor did I want to get, a second mortgage. So, I had to sell my house before I could get another one. This situation sort of put me in a position where I would be "homeless" during the transition from my old home to a new one. However, my Dad asked if I would come back and live with him until I find a new house. He just turned 65 and lives alone. He likes having my dog as company during the day, and he said that he will definitely appreciate the help that I will be providing around the house. (I will be doing all of his yardwork, most of the house cleaning and laundry, and I will be paying for half the groceries and half the utilities.) I figure that I should be able to find a new house and close on it within 6 to 8 months. During that time I will be able to save up a lot of money. That money, plus the equity that I'm going to be getting out of my current home will translate into a very large downpayent and a nice low mortgage payment. It's going to probably drive me crazy living at home after a few months, but it is temporary. I'm 32 and single, so I don't want to hang around at my Dad's too long. I agreed mostly to do it to help my Dad out and to save up some extra money. I will be moved in by the end of April. It should be an interesting experience.

[creditcardfree]

Congrats on getting your home sold! I'm sure that feels fantastic. Good luck with your new living situation.

[snafu]

It might help to write up an informal 'contract,' so you both have the same understanding. I did this when niece came to stay while going to summer school in our city. Just because it was written down and signed by us both, there was no friction and no misunderstanding. While she didn't need to pay for anything, it was made clear that she was responsible for herself and agreed to vacuum the condo once a week. If she was joining mates for dinner she was obligated to call and let us know so that we didn't wait dinner for her.

[cschin4]

Congrats. But, take your new situation one day at a time. Living at home isn't going to drive you crazy unless you make it so. Keep your personal and financial life seperate from dad, appreciate your dad and help around the house as you plan and this might be a nice season of your life where you really get to know and spend some time with your dad. When I was younger I was always in a hurry to get on to the next phase of life, but now I have learned to take things for what they are and appreciate the time.
BTW, have you even considered permanently staying with dad? I think the extended family is going to be on the rise. Maintaining so many seperate households is expensive for everybody. There is nothing wrong with living with a parent. A friend of mine has had his mother living with him all of his life. When he got married, his mom moved in and has lived with him and his wife ever since. They made it work so that everyone is happy and it is helped all of them financially as well. NOt saying you should do that permanently but it is something to consider with today's economy and based on dad's situation as well. It used to be that children would inherit and live in the family home as well but that has gone by the wayside.
Obviously, the main thing is for both of you to be respectful of each other's boundaries, to clean up after yourselves and to not take advantage of the new situation on either part. But, also remember that everyone gets tired, crabby, etc and be forgiving of each other's moods.
Best of luck!