I'm looking at moving out of my parents house as I have put it off for far too long and I feel I need to move on with my life.
I told them at the new year this would be the year I moved out and so I have been researching properties in my town as well as looking at mortgage eligibility.
The properties (two bed terraced houses) I have looked at are around £170K to £190K. If my calculations are correct I need around £60k for the deposit. I could put £40k towards the deposit but would be happier if it was closer to £30k as this would leave a little bit of money for the legal costs, furnishings and utilities etc.
I have seen a house I like but I feel it may be overpriced at £185K as other houses sold in the local area have either had three bedrooms, a garage or both and have sold for less in recent months. This one is a two bed property with parking space at the front of the property and a private parking space across the road. My ball park figure is £170k as this seems slightly more than houses of a similar nature but accounts for it being a slightly newer house (1994). Does this seem a fair price?
8 years ago my parents gave my sister £15k but house prices were much cheaper then. It is written in their will that she owes this so when they die if she hasn't paid it back it gets taken from her share of their house.
I'm worried about how to approach them to breach the topic and am also worried what my sister will say if they lent me the money.
Any advice is welcome.
Read more: https://allmortgage.net/forum/how-to-ask-parents-for-help-to-buy-first-home.html
