Merging two families into one home raises where-to-live questions. Whether you’re getting married, moving your elderly parents into your home or combining your household with that of any friend, family member or loved one, merging households presents a number of important issues. Here are 11 issues you’ll need to think about and discuss with your new housemates:

Selling Your Current Homes
1. If you and your new housemate both own your own homes, should you sell your home, his or her home or both of your homes?

2. If you decide to sell one or both of your homes, will you owe capital gains taxes? If so, you should consult a tax advisor about strategies to minimize your tax liability.

3. If your decisions involve the sale or purchase of more than one home, you may want to consider hiring the same REALTOR® for multiple transactions. You may want to see if you can negotiate a commission discount.

4. It’s also a good idea to time your transactions to minimize the hassles and expenses of moving. You may need to arrange temporary housing or make multiple mortgage payments.

Buying Your New Home
5. If you decide to buy a new home together, consider if you want to re-invest all of the equity from the homes you sold or if you want to set aside some of the cash for other uses.

• Previous Page
• 1
• 2
• Next Page