Home Buying in Oakland>Question Details

Emily Erekuff, Home Owner in Menifee, CA

The SF Chronicle is interested in families purchasing a home together to cut costs. Please share your story!

Asked by Emily Erekuff, Menifee, CA Fri Jan 30, 2009

Buyers, have you recently purchased a home with siblings or in-laws or are you looking to do so?
Agents, have you closed any deals recently among family members, or do you have a family that's looking together?
Share your story here and you may be featured in the San Francisco Chronicle.

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Answers

2
I have friends/clients who are looking for a 4-5 unit building in Oakland that they can all move into. One daughter has three children, the other has one child and the mother is single. They want their own living spaces and would convert extra space into a family room - for all of them. We have found units for sale, but few have sufficient vacancies. Mom is providing the down payment and both daughters and spouses work and will contribute to the mortgage, taxes and maintenance. They are wonderful people and have been looking for about 6 months.
1 vote Thank Flag Link Sat Jan 31, 2009
I have clients, two sisters who looked for months for the right home. They were actually in contract a few times, spent the money for inspections, several trips to City Hall to research permits, rent control, etc. but backed out for different reasons.

At one time, they were in contract on a four-plex. What they had thought they would do eventually was to have different members of the family occupy the other units. But they ran into rent control issues with a current tenant who sued the previous landlord, won, and ended up paying a token $10/month (yes, only ten dollars month) for several years to come.The sisters backed out.

They finally found a Victorian Queen Anne cottage (high basement style) in Oakland, and it turned out that it is historic because Jack London used to live there.

It has a decent sized yard, which suits their mother well because the mother likes to garden.

It still needs a lot of work, but it suits their needs at this time.
0 votes Thank Flag Link Fri Jan 30, 2009
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