In today's episode, I share details about my family house hacking plan. Long story short, my wife's mother talked about moving from Reno, NV to Denver, CO once we started a family. Like many grandmothers, she wants to spend as much time as possible with her grandchild. She's even offered to watch the little one while we're at work.
As I type this, I can visualize many of the readers cringing at the next sentence: Living near us, morphed into my mother-in-law moving in with us. Living with family can be extremely difficult. But the pros from a financial and family point-of-view, outweighed the cons.
We all moved in together just a few weeks ago. I don't have any firm numbers to share yet, but my back of the napkin math estimates saving $2,000 to $4,000 a month. Afterall, a dollar saved, is worth $1.33 or more earned.
I recorded the podcast to share my strategy and to hopefully learn from others. If you have questions, ideas or advice, please reach out!
Podcast: Play in new window | Download (Duration: 24:24 — 22.3MB)
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Congratulations to you, your wife and to the grand ma' for :
- having the baby
- having such wise, nurturing family team
- discussing and planning so carefully this major decision
Even if you will run into unforeseen challenges, if there is goodwill and love from all parties, everything can be worked out.
Good luck
Eugene, thank you! I agree on the goodwill and love to help with any "speed bumps" from living together.