How Long Should I Live With My Mother-In-Law?

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giltee_IHB

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Hi, I've been reading these forums for a while, but I just signed up to post today. I'm about to sell my townhouse in Fullerton, and I was planning to move to Irvine (where I work) and buy a new construction there, but after reading these forums, I've decided to take my mother-in-law up on her offer to let me and my wife move in with her in her townhouse in Fountain Valley.



My wife and I would like to own our own home, as my mother-in-law will drive us crazy eventually, but we don't want to get into the market at a bad time, which most people are saying now is. How long do you think we should live with my mother-in-law...that is, when do you think will be a good time to buy a new construction in Irvine? 2011? 2019? Later? When houses that now cost 800K to 1M go down to 600,000, will that be a good time to buy, or will they continue to go down to 200K-400K? And will they ever go up again?



Last question: If Irvine is a bad place in SoCal to buy right now, where in central OC would be better?
 
Heh heh. Thanks for the quick reply, but actually, we are looking to buy a 3,000 sq. ft. home in Irvine, so the equity loss would more likely be 200K+ if things go as a majority of these forums seem to indicate. Moving out of mother-in-law's house to a 200K loss seems less priceless than moving to a 50K loss.
 
<p>You need to get your own place ASAP.</p>

<p>My wife and I moved in with the inlaws for about three months when we were doing our remodel and we nearly got divorced over the deal.</p>

<p>I'm often snarky and flippant, but in this case I'm in total agreement with ns2524.</p>

<p>Have you considered renting?</p>
 
<p><img alt="" src="http://www1.istockphoto.com/file_thumbview_approve/2074802/2/istockphoto_2074802_business_man_screaming_stop.jpg" /></p>

<p>Seriously, don't move in with her parents... EVER!</p>

<p>You can rent a nice place until you find one you want to buy. Living in a rundown 1 bd apartment under the airport take off path is preferable to living with your mother-in-law, who will be constantly noticing everything she doesn't like about you and openly discussing your faults with your wife. You are one unlowered toilet seat away from marital hell.</p>
 
Heh heh...as with the general consensus about the housing market voiced here, I'll have to take your advice re moving in with mom-in-law. Thanks for the input.
 
Don't buy anywhere right now. We are entering into a housing crash, with prices dropping significantly every month. Check out IR's "equity burn" estimates. It's timing; not location; Irvine will probably end up doing well by California standards (only down 35-40%). If you can't abide renting, the crash may be fast enough that by 2009 it will be mostly over and the losses manageable. But to buy now is to flush 10-20% of the price, a healthy down payment and probably YEARS of your savings, right down the drain.
 
No money is worth misery.. if you cant afford 1500 a month for rent you need to find a new industry.

Never move in with relatives or in laws, life is too short.
 
Some day when you have kids, you may appreciate having your mother in law there to help feed the baby every 2 hours. Do what you have to but don't burn any bridges.





Don't buy in Irvine right now unless if you find something that you really, REALLY like, can comfortably afford, and don't care about a drop in prices for next couple of years. Also, Irvine is not the only city in South OC. Neighboring cities might cost you less.
 
<p>I can tell you its not a fun prospect. Some Mom's are more relaxed about their children, 99.999999% aren't. Plus there will be a power struggle between your wife and your mom. Each wants to be the Queen Bee and have control of the worker, plus if you ever argue with your wife, you'll ALWAYS be on the losing side. Do yourself a favor, live on your own, you're old enough to be able to afford a small place without it killing you.</p>

<p>Good luck</p>

<p>-bix</p>
 
Off topic, but relevent to absolute price of living w mother-in-law



Recent survy found 70% of married British men would give up sex with their wives for 6 months in exchange for a 50-inch flat screen TV.



Does your mother in law have a large flat screen TV? If so you should be able to last at least 6 months, assuming your not French or probably longer if your German.
 
If anyone is going to buy soon, make sure you're buying at a 2004 price. I'm pretty sure it won't get lower than that for quite some years.
 
I think giltee got the message to rent and not move into the mother in law's home.



Keep in mind you also don't want to be within walking distance to the MIL. A good 20 mins by car is a good distance for your rental home. Since you want to move to Irvine, why not check out neighborhoods in Irvine where you would like to buy , and rent instead.



Look for homes on the market for more than 8 months, they would be pretty desparate now.

Also if you have nice furniture, you can always showcase an empty home, to help them sell.
 
Dude...I was in the exact same situation.





We sold our condo in Tustin Ranch in July, 2007 (dodged a bullet there) and moved in with my in-laws in Garden Grove to save some moola and to help my in-laws out, and they were also babysitting our little boy.





It was a mistake! We thought we were helping them out, but my father-in-law thought he was doing us a favor. Plus, it was cramped and old, and we had to keep washing their dishes, plus their bathroom was not clean. I know beggars can't be choosy, but my wife and I made alot of money. After 3 months, couldn't take it anymore and we decided to rent a house near to the in-laws (for baby sitting convenience) for 2k/month. Best decision we ever made...now wife and I are happy, parents are happy for us living near them and baby's happy since we have more space. Meanwhile, we're waiting for prices to drop in Irvine so we can get a McMansion.





RH
 
<p>LOL Awgee. There can be only one!</p>

<p><img height="281" width="200" alt="" src="http://www.poster.net/highlander/highlander-christopher-lambert-9912090.jpg" /></p>
 
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