Just a thought..., if Millennials live in the same city as their parents they should buy the parent home using a seller financed mortgage. Assume the parents have a second home in Tahoe that they have enjoyed. They should move to that home. The scenario solves multiple problems. Fair valuation on the purchase for the children. The asset is well known. There would be no hidden repair costs. A lowest cost note to the parents would avoid reverse mortgage scenario ridiculous fees. It seems as though the structure would work well for all (assuming no competing siblings).
Link to Bloomberg article: Rising Rents Are Finally Forcing Millennials to Buy Houses - Bloomberg Business:
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