I am a 28 year old woman who works full time at a minimum wage job. I am currently living with my parents after completing 3 years of college with little prospect of a job in my field. I have started to save money slowly in order to purchase a house in the future. My grandfather recently passed away and in his will everything goes to my mother, including his house. My parents want to sell the house in order to help pay off their mortgage and complete some renovations. The house was built in the early 1900’s, and while it is liveable it is in desperate need of updating, requires new flooring and stairs, and a lot more cosmetic work we well as some structural work.
This house is very special to me as I have visited the house on a near weekly basis for the last 28 years and have made so many incredible memories in this house before my grandparents passed away. It would break my heart to have my parents sell the house and risk having it torn down or turned into student housing.
I am attempting to convince my parents to let me move into the house, fix it up and pay monthly rent until I can afford to purchase the house from them. Ideally trying to save around $20,000 for a down payment on the house, and plan to apply for loans to meet the purchasing price of the house.
I realize that the dollar amount is way up there, and do not expect to meet it any time soon. I greatly appreciate any help that you are able to offer.