My wife's parents live in an estate that has seen better days and they would really like to move. They are in their mid to late 60s. Their house is worth about €140,000. A decent house in a nice estate nearby costs about €230,000, plus stamp duty. They have not much savings.
Meanwhile, my wife and I would like to buy a house as an investment. Would there be any way to help my wife's parents to move into our investment house, say on cheap rent which they could pay for out of the sale of their own hosue?
If we were to go this route, what issues would we need to take into consideration?
We currently have a mortgage of €125,000 on the house we live in, which is worth around €500,000.
Thanks for any help.
Meanwhile, my wife and I would like to buy a house as an investment. Would there be any way to help my wife's parents to move into our investment house, say on cheap rent which they could pay for out of the sale of their own hosue?
If we were to go this route, what issues would we need to take into consideration?
We currently have a mortgage of €125,000 on the house we live in, which is worth around €500,000.
Thanks for any help.