I am talking to a local realter and am starting to look for a house. Ideally I would love to close and be able to move in by May, as that will give me time to move in during good weather and start any renovations or projects.
I have seen several listings that I will visit that are lower than I was expecting to find, and all are in good areas. One of the things that I am looking for is a house that is less than 5 miles from my office as this will make it easier to bike to work. I found two great houses that I can afford by myself and both are 3 bedrooms so I am looking to possibly get two roommates, which will help me pay down the mortgage faster. A question popped up with my parents, they are willing to pay for the house and send me the mortgage payments, do you think this is a good idea. I have enough money in Vanguard to pay for the house outright, but don't want to pull that much money out as it will accumulate. Both of my parents have their cash in the bank, they had terrible experiences in the stock market and I haven't convinced them to put their money in Vanguard. Do you think this is a good idea?
I should add that I work for my dad's company, it is a small company and he is grooming me to take over. Right now I run our company's sales while he does the accounting, purchasing, and day-to-day management. I am learning more about these three functions and am gradually taking more control over these. I don't see them paying for the house and me paying them back as a problem. Right now I send nearly 75% of my pay to Vanguard in weekly investments and I can change this to instead move the mortgage payments to them automatically. With online mortgage amortization calculators it can be done to calculate how much I currently owe.
I know that money can ruin relationships, but since we have been working very closely for the past 3 years, I don't see this as a problem. What do you think?