My boyfriend owns a house with a 30 year loan balance of $150,000 at 4% interest. He has $275,000 in cash and retirement accounts. he retired.
My house is paid off. I have $50,000 in cash and a retirement account. I want to retire in a year or two.
We want to move in together, but we can’t agree on a fair “rent” to pay. He doesn’t want to live in my house because there are few amenities.
He thinks I should pay half of his monthly expenses on his nicer, more expensive house. I want to have
I gave up that luxury and paid off my mortgage. I am now working on building my savings. I don’t think it’s fair to pay half the mortgage interest cost.
I don’t know how much repairs and maintenance will cost if I don’t have property in his house. There are many points of view, but none are fair.
These are the options he set:
· I live in his house, so I can rent it. Please pay him half of what I get from the rental.
・I will pay half of the actual cost of living and maintaining his house while I am living there.
· Pay him the same amount as living in your current home for taxes, insurance, and utilities. $800 per month.
What do you think, Moneyist?
house owner & girlfriend
dear house owner
I’m sure your house is nice too. And just because he believes it doesn’t mean he does. I believe you shouldn’t pay a cent more to live in his house if you don’t have a mortgage on your own.
That is, you should pay more out of this arrangement just because he (a) wants you to live in his house, and (b) helps you pay off the mortgage, or taxes and maintenance. not.
You both made different choices. You were to have a home that was free and clear with no mortgage.
You worked hard to pay off your mortgage, but you have $50,000 in savings, less than 20% of your boyfriend’s savings. He has $150,000 left on his mortgage and that’s his choice.
“If his aim is to find help to pay off half of his mortgage, he can find a tenant to do it. “
You are not the answer to his long term financial planning. You are his life partner. If his aim is to find help to pay off half of his mortgage, he can find a tenant to do it.what will you do you do you expect Forget what he expects.
By the way, he seems to want the equivalent of detergent and fabric softener as he approaches this arrangement.
Bottom line: Don’t compromise your nest egg plans. A woman is not meant to turn her around. Enlist the help of an actual tenant in your home and agree to his plan only if it works for you as well.
In other words, your desired outcome is more important than the suggestions he puts in. He saved $600 a month. it’s his business. not yours. What do you want in your pocket each month?
understand what you Work backwards based on that goal. For example, if you can pay him $800 a month, rent his house $1,600, and put the $800 into savings, so be it.
you have come a long way. Don’t let these negotiations ruin it.
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