Would you buy a big home from the pooling funds of funds of family members?

Discussion in 'Buying & Selling Real Estate' started by Investor, Oct 25, 2014.

  1. dianethare

    dianethare Senior Investor

    Joined:
    May 2014
    Posts:
    987
    Likes Received:
    9
    I don't think that is a good idea, what if suddenly the sensibility and kindness you witnessed earlier, is not there anymore, somehow it fizzled out at midnight and you had put in your money in the same basket to start out on a great project?...this is where rife sets in, sometimes its better to walk alone and avoid conflicts.
     
  2. ally79

    ally79 Guest

    Joined:
    May 2014
    Posts:
    154
    Likes Received:
    0
    I personally could not do it. I could not live with my family and have to see them all of the time. We had to leave with my family for 2 months after a tree fell on our house and it nearly killed us all. No way Jose!
     
  3. troutski

    troutski Guest

    Joined:
    Jul 2014
    Posts:
    256
    Likes Received:
    1
    Even close-knit families aren't exactly fond of this idea in practice, either. I mean, no matter how much you care for a family member, living with multiple family members that aren't in your immediate family can lead to plenty of stress and problems. Obviously, nobody in their right mind would want to deal with this situation, especially when they don't have to.
     
  4. Kate

    Kate Senior Investor

    Joined:
    Apr 2014
    Posts:
    515
    Likes Received:
    5
    Oh, this thought gives me the shivers. No, I would never ever ever do this, even with the wonderful family I have. There are so many reasons it would be ill-advised, not the least of which would be what happens with all those names on the deed if there's a rift 5 or 10 years down the road?

    That said, it may depend on the location you're talking about... I think that in some countries this is actually a rather common practice. It's just not for me, no matter where I live. :D
     
  5. Kate

    Kate Senior Investor

    Joined:
    Apr 2014
    Posts:
    515
    Likes Received:
    5
    Heaven? ;) I'd say maybe more like hell. Someone's quirks and habits are going to start getting on your nerves before the first month is over... maybe the first week. Like who cooks? Who cleans the toilets? Who decides what shows are on the TV? Who's too noisy? Who has rowdy guests over? This would be a total nightmare, I do believe. No one gets along this well in real life.
     
  6. Muthoni

    Muthoni Guest

    Joined:
    Aug 2014
    Posts:
    247
    Likes Received:
    0
    That would be the end of a happy family according to my opinion. Most people do not know how to relate well with others on a daily basis. Some people are happy to see others when they have prepared for it. They will not enjoy bumping into their relatives at every corner in the house. I know that there are people who live very well together for many years. Hence, it is necessary to find out if these people can live harmonious before putting their homes for sale.
     
  7. caparica007

    caparica007 Well-Known Member

    Joined:
    Jul 2014
    Posts:
    90
    Likes Received:
    0
    When family and business or money mix a huge problem is created, so this is something to avoid at all costs IMO.
     
  8. Tara

    Tara Active Member

    Joined:
    Jun 2014
    Posts:
    30
    Likes Received:
    0
    No. Never. No. I can't imagine that everyone in the family is kind and sensible. Perhaps I'm looking at this idea with my own family in mind, but there's always one. I just can't see it working even if everyone was sensible. I agree with Benjamin Franklin when he stated that house guests like fish go bad after three days.

    This type of thing has been suggested in my family. I don't know how far it got, but I immediately opted out of that idea.
     
  9. JoshPosh

    JoshPosh Guest

    Joined:
    Sep 2014
    Posts:
    393
    Likes Received:
    1
    I have not proposed this to my family but it is an interesting idea. Lots of cultures around the world actually live together under one roof. I too would entertain the idea if the property was big enough where we all could have our own separate dwellings, with a common living area (living room and kitchen). That way we still can have our privacy and still meet up for gatherings and meals.
     
  10. dianethare

    dianethare Senior Investor

    Joined:
    May 2014
    Posts:
    987
    Likes Received:
    9
    I remember staying with relatives awhile back...it was crazy...i was always picked on and told i don't and won't amount to anything...so am wondering what Investor is saying about Heaven...you are completely right Kate...It will be hell..the hottest type of hell one has ever experienced!
     

Share This Page