Hello,
My wife, kids and I are currently living outside of Dublin and are planning on moving back in the next year. With the market being as it is we may have to rent our house instead of selling (no option due to current conditions)
My Mother who lives in Dublin has suggested to me that we could move in to her house and she could renovate the garage and move in there.
I have been thinking long and hard about this and trying to figure out the advantages and disadvantages.
I have 2 sisters who both live outside of dublin also and am very mindful about how they would potentially feel about this. They both have no plans for moving back to Dublin and I am wondering how best to approach this with them.
Im basically looking for some suggestions here about how to financially and legally progress with this. I would plan on building a two story appartment on the side of the house for my mother as part of any deal. There are obvious long term benefits for my mother as I would be living next door to her for the rest of her life(she has no other family members in Dublin)
I need some suggestions on the following:
1. Are there potentially any legal barriers facing me by such an arrangement?
2. How best to deal with this with my sisters?
3. Am I mad to even consider this?!
4. How would I work out the value of the house to pay my mother if my sisters had any potential issues around inheritance?
Ive tried to keep the post as short as possible, if you have any questions please ask and I welcome all opinions, both for and against.
Thanks!
My wife, kids and I are currently living outside of Dublin and are planning on moving back in the next year. With the market being as it is we may have to rent our house instead of selling (no option due to current conditions)
My Mother who lives in Dublin has suggested to me that we could move in to her house and she could renovate the garage and move in there.
I have been thinking long and hard about this and trying to figure out the advantages and disadvantages.
I have 2 sisters who both live outside of dublin also and am very mindful about how they would potentially feel about this. They both have no plans for moving back to Dublin and I am wondering how best to approach this with them.
Im basically looking for some suggestions here about how to financially and legally progress with this. I would plan on building a two story appartment on the side of the house for my mother as part of any deal. There are obvious long term benefits for my mother as I would be living next door to her for the rest of her life(she has no other family members in Dublin)
I need some suggestions on the following:
1. Are there potentially any legal barriers facing me by such an arrangement?
2. How best to deal with this with my sisters?
3. Am I mad to even consider this?!
4. How would I work out the value of the house to pay my mother if my sisters had any potential issues around inheritance?
Ive tried to keep the post as short as possible, if you have any questions please ask and I welcome all opinions, both for and against.
Thanks!
