Hi everyone, I’d appreciate some outside perspective on whether this is a good financial idea.

    My mum wants me and my two brothers to start saving all 4 of us together to buy a flat in Slovakia in about 2 years so that we can inherit it (as per her words). This flat would be rented out. I’m struggling to see the benefits of this, especially for me, and I’d like help understanding whether this makes sense.

    Family background

    Me (25): I don’t own any property. I live in the UK and earn more than I would in Slovakia, currently £30k in an entry-level accounting role in London. I’m aiming to be on £40–45k in about 3 years.
    My plan so far has been to save and buy my own flat in Slovakia in ~3 years, but I haven’t fully decided where I’ll settle long-term. I’d like to return to Slovakia in a few years, but I’m also open to staying in the UK if my personal life develops here, in which case I might not buy property in Slovakia at all. I'd like to have one child myself in the next 5-7 years.

    Mum(56): Owns our 4-bedroom family flat outright. She also has a mortgage on a studio flat where my father lives. She’s an accountant and earns well, but she also financially supports my father as he has no income. Also took out a loan for my second brother's property (more about it later). For now the retirement age for her age is 62.5

    Oldest brother (34): Owns a 1-bed flat with a mortgage. Lives on the opposite side of the country. Single, no kids, unlikely to start a family. Earns slightly above average for Slovakia (~€1.7–1.8k/month) in sales, with good career stability and perks, though he’s already fairly senior.

    Second brother (32): Owns a studio with a mortgage and recently bought a 3-bed flat with his girlfriend. That mortgage is shared between him and his girlfriend with my mum taking out a loan as well for the downpayment. He’s self-employed in architecture (business started last year), doing okay with potential to grow. They’re planning to have a child in the next few years.

    My concerns

    I don’t really see the upside for me in buying a flat jointly with my brothers, especially given our different life stages and financial situations.

    I value flexibility, particularly since I live abroad and don’t yet know where I’ll settle.

    My relationship with my brothers is okay overall, but one of them is extremely difficult to deal with when disagreements arise (yelling, insults, etc.), and he’s the last person I’d want to be financially tied to long-term.

    I was hoping my mum would help me financially with my first property at some point, as she did with my brothers. I didn’t expect a lot, given she paid about 30k whilst I was studying at uni here, but now I’m worried that if she goes ahead with another joint purchase, there may be nothing left to help me later. I know I’m not entitled to this, but it’s something we had talked about doing in the past.

    At the moment, my oldest brother is undecided, while my younger brother supports the idea.

    Am I missing any clear benefits here?
    Is buying a flat jointly with siblings ever a good idea in a situation like this? I’d really appreciate help identifying the pros/cons and forming rational arguments before discussing this further with my family.

    Thanks in advance. 🙂

    My mum wants us 3 kids (me25, sibling32, sibling34) + her to buy a property together in 2 years. I don't see the advantages of it for me
    byu/Horror-Design2046 inpersonalfinance



    Posted by Horror-Design2046

    5 Comments

    1. Seems like a bad choice to buy a flat in your shoes IMO. Save and invest to buy one when you need it for yourself.

    2. “Is buying a flat jointly with siblings ever a good idea” -> NO. Even if you guys have a great relationship, you all have different priorities in life. Do not tie yourself to anyone before you even start your own life.

    3. Lunar_Landing_Hoax on

      I think you should trust your gut feeling. You know there’s nothing in this for you. 

      >I’m worried that if she goes ahead with another joint purchase, there may be nothing left to help me later. 

      Maybe it’s the American in me but I don’t think you should worry about what your mom does with her own money. If she can’t or won’t help you with the purchase, that’s her choice. You should plan without any help in mind, and if she ends up helping you, it should be a pleasant surprise, not an expectation.

    4. I will provide love, support, care etc to my parents but won’t make a financial investment like that. plus, you just started off, you don’t have any money; put an oxygen mask on yourself and politely decline everything else.

    5. W_HoHatHenHereHy on

      If you and your brothers each put in 25%, you’re each looking to inherit 1/3rd of your moms share, or 1/12th of the flat. Is the upside of 1/12th of a flat when your mom passes worth owning it with your brothers and forgoing whatever else you would have invested in instead?

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