Buying house with substantial gifted deposit

Mickey666

Scotbot said:

Mickey666 said:

AnotherJoe said:

Mickey666 said:

gettingtheresometime said:

My first thoughts are no don't do it....as are my second and third.

Not from a house purchasing pov but a family dynamic one.

All very well & good now when grandma is relatively fit & healthy but what happens when that isn't the case? 

Why does where she is living matter "when that isn't the case?" . . . or is it a case of out of sight out of mind?

No, its that those of us here that have experienced it know that 24 x 7 care is almost impossible to provide by one person or even two. Even something as simple as getting someone out of bed and to the toilet, and that's if there's no dementia, what happens when they are literally fighting against you, trying to "escape", etc.

But its hard for some people to appreciate this scenario and what it means for the carers physical and mental health, until they've lived it. 

You've missed my point.

I agree with you about the caring difficulties.  My point was that it is irrelevant where the person needing the caring actually lives - which is the point of this thread.  If they end up needing a care home they can move from their own home or from the home they are sharing with their family - what's the difference? 

The difference is that if 200k of the family home came from granny the council will bill granny the 200k for care fees. So the family home may have to be sold. 

But so what?  They would then be back in the same situation as if the whole family hadn't pooled their resourced to buy a larger house.
They sell the multi-generational home, give back £200k to Granny for her care home fees and use the balance to buy another, smaller house for the family without Granny.  All as they were.

Justonemorecupoftea

Couple of things - I'm sure a solicitor would be able to advise on the best financial set up to avoid the home being at risk.

Second - OP this is a lovely idea, as long as you go in with eyes wide open. It might be good to look for a property with a "granny annexe" giving you both some privacy/independence. She could still join for meals etc, but she would have her own space/kitchenette etc. and to get away from family life.