Should my mom buy the neighbors house?

[moneymaker]

Not really sure which category this fits in, but I would like others opinions on this. Next door neighbor says she is selling, already has an agent and is in the process of making everything look good inside and out. My mom currently lives 6 miles away, she has a VA loan she hasn’t used, has no debt, has $100,000 in the bank, currently rents for less than $1,000/month has not owned a stick home in a long time, I guess not since I was a baby. She lives alone, is 77 years old, in good health currently though not what I would call active. Even though prices are high, at peak?, interest rates are low. I would be willing to maintain said house as it would be next door. Ultimately it is her decision but just thought I’d ask others what they would do. House has slightly more sq.ft. than her place also has a pool and garage which is better than the car port she currently has. Can’t really say the neighborhoods are too much different. There is a senior center within walking distance of our place. She can afford it as she has a good retirement stream and good health care.

[NotCranky]

Do you have brothers and/or sisters? What do they think of the idea? Seems the big question is, is this the best fit for elder care for your mom and your family? Considering the different possible turns an elderly persons health and mobility can take?

Then, what do do with the house when she can’t use it, either because of health issues, or death?

If those things project out o.k. and she wants to do it, it makes her happy, why not?

[BoomerAang]

Are you married? If you are, then on your spouse’s behalf I would say no. It really depends on your spouse’s relationship or your relationship with your mother. Even if you would be next door neighbors, you would be seeing each other everyday. At 77 years old, she is most likely already set in her ways and will not be as accepting of change too much.

Think less of the financials in this situation and more about how well you would get along as neighbors. At this age, is it more likely for her to move in with you to take care of her? Is she currently in a retirement community for a reason?

[svelte]

no mention of what she wants.

If she wants it, go for it.

If she is ambivalent, I’d say no. At 77, it will be just a few short years (if even that) before she needs assistance. May even need to move to a seniors center.

A house will complicate everything. If she’s happy renting (she apparently is having done it her whole life) I say let it ride.

[scaredyclassic]

My mom’s 85 and still lives by herself. She may outlive me at this rate.

[moneymaker]

My mom is a hoarder and my wife borders on neat freak, so I’m thinking next door would be better than living here with us. Talked to her again today and she is going to get pre-approved, to be sure she can afford such a large house on her own. I know most people down size as they get older but she has so much stuff I think it will be easier to toss a lot of it after she is gone. Moving will force her to go through it at least. It’s a tough decision, so many pros and cons. She probably won’t use the pool but says she would use the jacuzzi attached to it. Hard to say how long before she will be needing live in help, have a neighbor who is in his mid 90’s who does fine.

[Author]

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