My SO currently lives with me in my house and pays me $1000/month. I pay the mortgage ($1732, going up to $1950 in Sept.), all utilities, and any costs associated with home repair. I have major home maintenance costs coming up over the next few years which I estimate will total $40000. In five years, when all maintenance is completed, we plan to sell the house and buy a new house. By that time we will be married and in our mid-fifties, and five years from retirement, and I think we should co-own that house, though not necessarily in equal shares. My question is, how do we determine what is financially fair to both of us? I would just do 50/50, but I want to protect myself in case of divorce and also I would like to leave as much as I can to my two children.
When we sell this house, I should make $100000, to be used as down payment on the next house, which will cost around $300000. SO is not in a position to buy in to the equity in the current house but could contribute to the cost of the upcoming repairs over the next few years. I'd love to hear ideas about what would be a fair arrangement.