He Offered To Buy His Struggling Son A House, But His Son Got Angry When He Said It’s Not A Gift And He Will Need His Money Back
Currently, his man’s son is really struggling financially, and he has a wife and daughter. He knows it’s difficult on everyone right now with the way things are, but his son actually asked him if he could spot him rent for a couple of months.
He said he would absolutely help him out, so he gifted his son $2,000. He didn’t want his son to pay him back, as the money was a gift and not a loan.
He then got to thinking about how bad it’s going to be for his granddaughter to have to grow up in such a small apartment.
So, he began looking for a home to buy for his son without consulting with him first, and that wasn’t a good idea.
“I found a townhouse for a reasonable price,” he explained. “If I put down a huge down payment, then I could let my son and his family move in there, and it would only cost $850 a month for the mortgage and property taxes.”
He liked the home because it’s close to where his son lives, as well as his granddaughter’s school. He was ready to pull the money for the downpayment out of his retirement account, and his plan was to eventually sell the home after he retires to get his money back.
He brought his son and daughter-in-law over to look at the house and filled them in on his plan. He said they could live there in the beautiful home, and it would only cost a bit more than half of what they pay on rent right now.
Their rent is $1,750 for their small apartment, and if they had gone for his plan, they would only have had to come up with $850 a month, meaning they could save $900 every month.
That way, his son and his daughter-in-law would have an opportunity to pay off some bills or squirrel away some serious cash.
Victor zastol’skiy – stock.adobe.com – illustrative purposes only
“They said that it was a very generous gift,” he added. “I corrected them. I was buying the house by taking money from my retirement account.”
“I would need it back. They got really mad that they would be paying a mortgage and not getting equity in the property.”
The conversation turned into an enormous argument. From there, he chose not to purchase the home for his son, and he informed his real estate agent of his decision.
Later on, his real estate agent called him up, confused. Apparently, his son called his real estate agent and asked the woman to show him the home again.
She couldn’t show her son the home anyway, as it’s pending, and another person jumped in to buy it.
“Now my son is upset with me for taking away a house with a yard from his daughter,” he said. “It seems like no matter what I do, I have done something wrong.”
You can read the original post on Reddit here.
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