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Paying for conversion - fairest approach
thinkin
Posts: 8 Forumite
Hi - we are looking at a basement conversion to create more space and also provide living accommodation for my mother in law which she will use at some point. We would like to agree a fair share approach to funding. It’s 100k for a living room , extending into garden , shower room snd big bedroom . We would probably be looking to do it anyway but it’s mainly for the mother in law . Without the bedroom it’s 75 and we would use the lounge as joint bedroom . So should we ask her for a contribution of 25 k for her bedroom , of more as she will live in the full space and as we would get the benefit of a value increase should we give a percentage of that derived value to her son ? We will have to look after her so won’t use the Space ourselves for maybe 10 years ..
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Comments
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I wouldn't charge her. Her son might otherwise find himself given an invoice for 18 years worth of board, lodgings and expenses accrued whilst being raisedthinkin said:Hi - we are looking at a basement conversion to create more space and also provide living accommodation for my mother in law which she will use at some point. We would like to agree a fair share approach to funding. It’s 100k for a living room , extending into garden , shower room snd big bedroom . We would probably be looking to do it anyway but it’s mainly for the mother in law . Without the bedroom it’s 75 and we would use the lounge as joint bedroom . So should we ask her for a contribution of 25 k for her bedroom , of more as she will live in the full space and as we would get the benefit of a value increase should we give a percentage of that derived value to her son ? We will have to look after her so won’t use the Space ourselves for maybe 10 years ..
Gather ye rosebuds while ye may1 -
Quoted for posterity, because I don't think this is going to go the way the OP hopes.thinkin said:Hi - we are looking at a basement conversion to create more space and also provide living accommodation for my mother in law which she will use at some point. We would like to agree a fair share approach to funding. It’s 100k for a living room , extending into garden , shower room snd big bedroom . We would probably be looking to do it anyway but it’s mainly for the mother in law . Without the bedroom it’s 75 and we would use the lounge as joint bedroom . So should we ask her for a contribution of 25 k for her bedroom , of more as she will live in the full space and as we would get the benefit of a value increase should we give a percentage of that derived value to her son ? We will have to look after her so won’t use the Space ourselves for maybe 10 years ..0 -
I think important context is whether or not the MIL has offered to pay towards this0
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You say she may will use 'at some point'.
Is that her suggestion?
If not, then you can hardly ask her to pay for something she is not using and may never do.1
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