Would you sell 'the family home'?

Dave!

Hey folks,

Something I've thought about before. My folks bought their house for a song 30 or so years ago, and have been paying the mortgage off since then. They finished paying it off a few years ago, so own it outright now.

Obviously it's a bit late now given the property market is dead, but I'm sure they could have sold it a few years ago for 350k or so. All the 'kids' are grown-up now, but at the time my sister and I would have been living there too.

Anywho... I'm sure if they sold it and got something a bit smaller they could have had about 50k in the bank. Even in a few years' time if the market picks up again, and it'll be just them living there, then they could sell it and buy a 1 or even 2 bedroom place, and give themselves a bit of extra cash.

They have no interest in this, and see it as the family home. What do we think about this sentimental attachment? I'm not immune to sentimentality or selling off everything with historical or personal significance, but certainly at the moment I'd have no problem selling the family home if it meant having an extra chunk of change in the pocket, even for the retirement.

Pottler

wait till they snuff it then sell it and spend the money on drink and wagon-wheels. Who needs a house anyway? Loads of people do right well without one. Seemingly better than us mugs with our mortgages anyway.

Mr Benevolent

OP you sound like you're angling for a 50k present from your parents. You can get cheaper H if you look around. Hookers are doing bulk deals lately, and you can recycle the tinfoil too.

saa

If they are happy living there and happy to live out the rest of their lives there that is worth a lot more than having 50k in the bank unless you really needed it.

It might not work out in the new place, its a lot harder for older people to settle in a new area, its nice to have a garden and all that but then again they could travel while they still could they could move abroad, they could move somewhere to suit reduced mobility or like my grandparents where they could both have their own bedrooms and sitting rooms and somewhere down the country with less crime always a plus.

Depends on your situation really, if it was me I would like to move to a bungalow with a nice little private garden near the sea but if I knew people in the area and all the memories in the house oh you might only get me out on a trolley.

nicechick!

There happy leave them be its there home!

Eathrin

Some things are more important than money for some people.
Then again with an extra reserve of cash you could thoroughly enjoy your retirement.

MickySticks

Pottler wrote: »

wait till they snuff it then sell it and spend the money on drink

Hmmm yes a Mod of the non-drinkers forum.

Mickey H

If you sell it, how will you go home at the weekend?

WoollyRedHat

I think it's sad when people are forced to sell their family home, when it is no longer an option to keep a parent at home on their own, and they have to be put into a nursing home, with the money raised from the house having to go towards the exoberant fees that have to be paid to the Nursing Home.

uberalles

WoollyRedHat wrote: »

I think it's sad when people are forced to sell their family home, when it is no longer an option to keep a parent at home on their own, and they have to be put into a nursing home, with the money raised from the house having to go towards the exoberant fees that have to be paid to the Nursing Home.

I heard similar. The nursing home gets the house. Its not a good country to grow old in here

hooradiation

sell it in a heartbeat.

Sunnyisland

Yes I will sell it and hopefully get something smaller for the 2 of us and share whats left with our children,That's the plan :-)

Pottler

MickySticks wrote: »

Hmmm yes a Mod of the non-drinkers forum.

:pac::pac:Never noticed that, well, soo, ahem, spend it on somthing more upstanding so, like Hookers.
Maybe he can start Moderating the "I covet my parents assets forum", I believe it's a well popular activity. Anyway, I'm off to the fridge for a beer.

Stained Class

I bought my own home about 10 years ago. I was single then & not on megabucks, so it was quite a big deal to me. I rented out most of it to total strangers to keep the mortgage paid.

Nowadays, I'm married with kids & new memories are created eveyday within these 4 walls.

I'm very attached to this place already & it would be a huge wrench for me to move. Even if was to a 'better place'.

I can't imagine how I'd feel about selling it in say 20 or 30 years time..

TeddyTedson

I was adopted so, yes to be quite frank.

Pottler

TeddyTedson wrote: »

I was adopted so, yes to be quite frank.

You weren't adopted Teddy, that's just what they told the neighbours to try and ease the embarrasment. "Ahh, Yeah, we adopted him ya know":D

Witchie

It's only bricks and mortar, the memories go with you. Maybe I'm not sentimental about these things coz I have moved so much throughout my life. My current house is number 13 of my homes. Can't wait to sell.

Ficheall

nicechick! wrote: »

There happy leave them be its there home!

*twitches*

kowloon

Ficheall wrote: »

*twitches*

Theirs no need to get jumpy their.

I wish the family home on my Mother's side hadn't been sold off. Really enjoyed being there as a child. It's nice to have a place where you can meet your extended family.

candy-gal1

never tbh, its your childhood and onwards memories there, you cant replace that! plus its always good to have something there to go back to especially in this economy :rolleyes:

seamus

The family home is where the family lives. If nobody lives there, it's just a house. Houses don't store memories, brains do.

Jimmy Bottlehead

Pottler wrote: »

Who needs a house anyway?

The homeless?

kylith

My mum would sell it in a heartbeat but dad won't let her. I absolutely would, it hasn't been my home for more than a decade and too badly laid out to be much use to a modern family.

I think they should sell it because my siblings treat the place as a hotel for their kids, on any given night there are more grandkids staying there than in their own houses and I think that my parents, both pensioners, don't need that sort of hassle. They could use the cash to get a nice cottage with a wee garden for dad to potter around in.

That said, I'd hate to see the old place turned into student accomodation and trashed. I know not all students wreck places, bit still.

snubbleste

What's a "family home" ?

Stiffler2

When my parents die they better not sell off the family home or I'll have to kill them.

it has all me history

iguana

I'd like to think I would. If the house I lived in was too big for me I'd seriously consider trading down. Less house to maintain and more money in my pocket makes sense. In fact I rent a lovely bungalow now that I know would be a perfect retirement home one day. On the other hand it depends on where my kids settle. If some/all of my children end up living far away then I'd need a house big enough to accommodate them and their families when they come for visits.

Nothingbetter2d

lol i'd laugh is the op's parents willed the house to the cat and gave a big fu to their greedy offspring :P

LorraineMcFly

My house was build for 133,000 and in boom time was valued at 600k. Its our family home, insofar as the hubbys parents gave him a free plot and his heart and soul went into building it. One day it will be my childrens house. I would and the hubby would never sell it in a million years. Even back in boom ttime with a huge profit we wouldnt sell. Father in law works for an estate agent and he was offered 1 million in boomtime for the land! and he said no and gave half to his son(my husband)and half to his daughter. The house is valued now at 350,000 so wud still make a profit if a seller wanted it. but no way we wud sell. only way we leaving our lovely family home is in our coffins.

Kojak

snubbleste wrote: »

What's a "family home" ?

A home with a family in it?

iguana

Nothingbetter2d wrote: »

lol i'd laugh is the op's parents willed the house to the cat and gave a big fu to their greedy offspring :P

Where did the OP say he wanted the money. It appears as if he thought his parents might be more comfortable and have the money to spend on themselves. Something that if they did would leave him less of an inheritance than if they didn't do it. It's the exact opposite of greedy.

Dave!

See my other thread from a few years ago - 'Inheritance, do you expect it?'

http://www.boards.ie/vbulletin/showthread.php?p=53363321

You got me all wrong bro, I'm a great son!

conorhal

iguana wrote: »

Where did the OP say he wanted the money. It appears as if he thought his parents might be more comfortable and have the money to spend on themselves. Something that if they did would leave him less of an inheritance than if they didn't do it. It's the exact opposite of greedy.

My folks are in their 70's.
They love their home, it's filled with the memories of a lifetime together, the place they raised their children and where they potter around in the garden during their retirement. Most importantly it's on a street on which they know all of their neighbors, and their neighbors know them and keep an eye on them. It's where their local church is and the community of which they are a part. They feel safe, comfortable, happy and cared for in their home.

Why in God's name would they want to move to a one bedroom apartment surrounded by people they don't know for a wad of cash that can't buy what they already had and most need at this stage of their life?

Dave!

conorhal wrote: »

iguana wrote: »

Where did the OP say he wanted the money. It appears as if he thought his parents might be more comfortable and have the money to spend on themselves. Something that if they did would leave him less of an inheritance than if they didn't do it. It's the exact opposite of greedy.

My folks are in their 70's.
They love their home, it's filled with the memories of a lifetime together, the place they raised their children and where they potter around in the garden during their retirement. Most importantly it's on a street on which they know all of their neighbors, and their neighbors know them and keep an eye on them. It's where their local church is and the community of which they are a part. They feel safe, comfortable, happy and cared for in their home.

Why in God's name would they want to move to a one bedroom apartment surrounded by people they don't know for a wad of cash that can't buy what they already had and most need at this stage of their life?

Everyone's different. What if they could move to a smaller house on the same road, and it meant they could retire a few years earlier? Having a bit of extra money doesnt have to mean going backpacking around Australia and doing lines of coke off a hooker's ass.

libnation

In a heartbeat. Owning a house is just another cultural thing which means nothing to nobody at the end of the day.