I bought my parents’ house at below-market rate — my sister wants me to give her $50K to build my mother an annex. Is that fair?

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'I bought my parents’ house at below-market rate — my sister now wants $50,000 to build my mother an annex. Is that fair?' ‘My sister has a bunch of lumber sitting on her lawn, and no money to pay the contractor.’ The Moneyist quantanamo replies

My mother turns 81 this year. For years, she and my sister talked about building an annex onto my sister’s house so my mom could move in with her. My mom promised to pay for the addition.

It would have been easy to finance all of this by selling my parents’ fully paid-off house. But to complicate matters, my stepfather decided he wanted to stay in their house, and not move to my sister’s house. COVID has, of course, sent construction costs skyrocketing. My sister has informed me that she now doesn’t have enough money to complete construction on the addition for our mom. In her mind, because my parents’ home was appraised at $800,000, my mom’s trust should get $400,000 from the sale.

We are fighting about this pretty hard, and it’s bringing up a lot of resentments. My sister feels I’m being selfish because I got our parents’ house for a “song.” I feel resentful, because I never wanted the house and have constrained myself financially so the three of them could have what they wanted — and now I’m being asked to stretch myself even more.

 

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