The Moneyist: ‘He’s not willing to live in my house because it has fewer amenities’: My boyfriend wants me to move in and pay half his monthly costs. Is that fair?

by | Oct 26, 2022 | Stock Market

Dear Quentin, My boyfriend owns a house with a 30-year mortgage balance of $150,000 on a 4% interest rate. He has $275,000 in cash and retirement accounts. He is retired. My house is paid off. I have $50,000 in cash and retirement accounts. I would like to retire within one to two years.

We wish to cohabitate but have not been able to agree on a fair “rent” to pay. He is not willing to live in my house because it has fewer amenities. 

“‘He believes I should pay half of his monthly cost at his nicer, more expensive house. He could pay off his mortgage and save $600 a month, but he likes to have cash. ‘”

He believes I should pay half of his monthly cost at his nicer, more expensive house. He could pay off his mortgage and save $600 a month, but he likes to have cash.  I have forgone that luxury and paid off my mortgage. I am now working on building my savings. I don’t feel it is fair for me to pay half of the mortgage interest expense.  I don’t know what repair and maintenance costs should be expected from me, if I have no equity in his house. There are many points of view, none of which feels fair. These are the options he set forth: · I live in his house and thus get to rent mine out. Pay him half of what I net from that rental. · Pay half of the actual costs of living expenses and upkeep on his house while I live there. · Pay him what I pay to live in my current home for taxes, insurance, and utilities: $800/month. What say you, Moneyist? House Owner & Girlfriend Dear House Owner, I’m sure your house is just as nice. And just because he believes you should pay half his costs, does not make it so. If you are paying no mortgage on your own …

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