They Wanted $300,000, I Offered Them a Home

My husband and. I have built a nice life in Wisconsin. I’m a salesperson, he’s a teacher, and we have kids too. We saved up a good chunk of money but we’re not rolling in it.

My parents are in deep financial trouble. They’ve got a house but it’s drowning in debt. They rent out the main floor and live in the basement, completely unaware of their true financial standing.

When they wanted to buy a $300,000 apartment, I said no to co-signing a loan. Instead, we proposed buying it ourselves, allowing them to live there for cheap rent. They loved the idea.

After months of planning, we were ready to make the purchase. But out of nowhere, my parents decided the apartment was too small.

Now they want a fancy condo with fees over $1,100 a month, claiming they can afford it by counting on $400,000 from their house, which we believe is unrealistic.

They think the $300,000 we’re prepared to spend on the apartment should just be given to them. Their reasoning? If we’re willing to spend that much, why not just give them the cash?

I had to tell them we weren’t giving away that money. I explained there’s a massive difference between buying them a home and handing them cash like a gift. That led to a tense silence, their faces falling as they realized we wouldn’t budge. They can choose the condo if they want, but we’re sticking to our plan of helping them with a more affordable option.

Now. I feel trapped in this situation… and. I keep asking myself if. I’m being too controlling by wanting to help them responsibly.

Your take

Should. I just give them the money instead?