My kids will only ever own a property if their g/parents leave them massive amount

Bargain_Rzl

ianian99 wrote: »

and of course a rope around your neck for 25 - 30 years.

That is not necessarily true and depends entirely upon the individual's financial circumstances (mortgages can be paid off faster; rents can rise... anything can happen). Remember that everybody needs a home, and will have to pay out for one each month regardless of whether they own or rent.

Personally I think whether it's right for an individual to buy or rent depends on what the person wants out of life. For me, it's a long-term home which I can do what I like with, and rental (on AST/rolling monthly tenancy) simply does not provide that.

tiff

But there is no "right" to buy, if the kids cant afford their own place then they will have to look at other options. Maybe the OP will buy a property in her own name for the kids to live in and pay rent. Plenty of other people will be in the same boat. Personally I think there will be a house price crash or at least a major dip in prices, as has happened before.

klondyke

margaretclare wrote: »

Klondyke, I have no objection at all to people going on cruises if that is their wish, so long as no one ever tries to persuade me to go on one!!! For me, the thought of a cruise ranks alongside bingo as 'something I absolutely do not want to do!'

Having said that, we're going to meet some of DH's online friends who are arranging the get-together at Niagara in July. And for another year, what I'd love is to start at Rotterdam and drive slowly up the Rhine valley, stopping at all the scenic and historic places on the way, as far as the Bodensee (Lake Constance). We need a better car, though...

And I do send you all my very very best wishes for a good recovery.

Re my granddaughter in her council flat, I have been able to assist her by ordering household goods and getting them delivered direct - she's 250 miles away.

DH and I have had the 'in sickness and in health' bit in spades ever since we first got together nearly 10 years ago now. Last year I was recovering from further hip surgery and he needed his knee re-done. This year, it's eyes - cataract surgery. We're very appreciative and grateful for new technology and modern methods which mean that cataract surgery can take 20 minutes.

Margaret

Thanks - sorry didn't mean to imply I thought you would object; more that I once felt the same way as you about cruises - still do about bingo! No I just meant that in the same way that all upright vacuum cleaners tend to get called Hoovers, and ballpoint pens get called biros - it seems that all types of unnecessary but pleasurable squandering seems to get called 'luxury cruises!'! Strikes me that the Rhine Valley drive would come in this generic category - and very nice it sounds too!

We have the sickness and health bit too, but I never promised to obey! Been married 37 years, so it's quite a while! My DH is waiting for appontment after referral, but is likely to need laser surgery on his eye for a 'macular hole'. His hospital is miles the other side of London from mine, but at least they are both highly respected ones. He is still naughty enough to tell my oncologist, who is going on maternity leave soon, that her pregnancy is due to 'too much frolic acid'! Tsk

Still I suppose this is a bit off topic really. Very best wishes to you both.

Merton

EliteHeat wrote: »

You seem to think that your childrens future prosperity is someone elses responsibility - I can't quite get my head around that one.

I can't either.
House prices are cyclical. They'll probably hit the market at its next low and you'll wonder what you were worried about when they buy easily on an average salary.

CB1979_2

haven't read all 11 pages! lol

but get a grip of reality, YOU don't mind taking the money from your in-laws but you feel aggrieved that WHEN your in-laws die, THEN the 50% share goes to your Bro in law, IF he dies before his wife, THEN the rest will get shoved down her side of the family.

what exactly did your parents bring to the table?

and lastly as harsh as it seems, but what exactly has it got to do with you?

not your parents, you were lucky to marry into a fairly well off family (on paper).

and another far out scenario but is possible:
what happens if the housing market crashes
your bro-in-laws £600k "portofolio" looks more like £200k,
and he has to look after his mum & dad (cos they can't look after themselves)
& YOUR kids cos you and your husband MIGHT have died in an accident.

sounds to me you're now thinking you married the wrong brother! lol

lastly, surely the best scenario would be as you're so well of (mortgage free) then they just by-pass you and your husband and put the 50% share into trust for your kids, there you go then it doesn't look like you're trying to be a money grabber.

nibs

miss_bargainmad wrote: »

I'm not saying at all they should get the lot.

Maybe he would feel very resentful that they got anything left to them specifically as he has no children as they can't have any. I think he resents his brother for that. QUOTE]

you have a family and financial security. Stop churning over what you havent got and start enjoying what you have got.

Bogof_Babe

ianian99 wrote: »

can i just ask whats so great about owning property?

The biggest advantage to me is that when your salary dries up and you are thrown into surviving on a basic state pension, with or possibly without a work pension (however good it looks now, they can and do fail), at least you won't spend your retirement trying to scrape together rental money until the day you pop your clogs.

I am the childless one of two sisters, and my parents (only one surviving now) have made a modest provision for the two grandchildren and then left the balance to be shared between the two of us. I have no objection to that at all, as they are the next generation, and in due course I will probably leave my own estate to them.

However mum is now in a care home, costing almost £500 a week, so it is possible that there will be very little left if she survives a few more years, which is quite likely because although she is 92 and physically quite frail, there isn't really anything "wrong" with her.

I am just thankful that husband and I saved and economised for all of our married lives, and now have our own nest egg to see us through, barring a total collapse of savings interest rates.

I was left £16K by a maiden aunt about 15 years ago, which turned me into an even more serious saver, and enabled us to pay off our mortgage in due course. If I'd had it in my 20's it would have disappeared in clothes shops and travel agents, so I am convinced that everything happens when the time is right.

regularsaver1

i think the OP gets the message now

Bogof_Babe

regularsaver1 wrote: »

i think the OP gets the message now

Sorry sir (ma'am?), I was just chatting really. I didn't even pass comment on the OP's situation.

regularsaver1

Miss, thanks

I was saying it in gest to everyone