RSteve
Well-known member
- Joined
- Feb 9, 2008
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Rents for even modest apartments in the Twin Cities have skyrocketed. A 2-bedroom apartment in a decent neighborhood is about $2000 a month. Two of my friends live in the same building. It's a mixed use building in St. Paul with a Whole Foods Market and a couple of small shops on the main floor and three floors of apartments above. Both people have 2-bedroom apartments; one uses one bedroom as a den, the other uses the second bedroom as her office. They're both paying $2500 a month; 30k annually. Tenants have a heated garage, party room and exercise room. If these apartments were in downtown Minneapolis, rent would likely be $3000/month.
I'm pretty certain that it's getting to be time for me to move out of my house. Because of location and design, plus the scarcity of homes on the market in my neighborhood, my house would move fast at top dollar. The question becomes, if I sell my house, where do I live. Do I buy a townhome or condo or rent? Living in my house is fairly cheap. It's paid for, so it's taxes and upkeep.
My older daughter lives in a very nice suburb of St. Paul. By choice, she and her husband have no children. Her house is large for only having three bedrooms, three bathrooms. Their basement is an unfinished walkout to the backyard. The other day, she said, "You know, Dad, Evan and I would love to have you live with us, but I know that you'd want your own place. For the cost of two years rent, you could probably build out our lower level into a good sized apartment, plus we'd be at hand if you have any health issues in the future."
I don't want to impose on my daughter's privacy. I know this is not about having me pay for a build out. My daughters know they are beneficiaries of 90% of my assets. The only reason for a basement buildout would be to accomodate me. The question for me is would my privacy be compromised?
I'm pretty certain that it's getting to be time for me to move out of my house. Because of location and design, plus the scarcity of homes on the market in my neighborhood, my house would move fast at top dollar. The question becomes, if I sell my house, where do I live. Do I buy a townhome or condo or rent? Living in my house is fairly cheap. It's paid for, so it's taxes and upkeep.
My older daughter lives in a very nice suburb of St. Paul. By choice, she and her husband have no children. Her house is large for only having three bedrooms, three bathrooms. Their basement is an unfinished walkout to the backyard. The other day, she said, "You know, Dad, Evan and I would love to have you live with us, but I know that you'd want your own place. For the cost of two years rent, you could probably build out our lower level into a good sized apartment, plus we'd be at hand if you have any health issues in the future."
I don't want to impose on my daughter's privacy. I know this is not about having me pay for a build out. My daughters know they are beneficiaries of 90% of my assets. The only reason for a basement buildout would be to accomodate me. The question for me is would my privacy be compromised?