What should I consider before moving into my in-laws rental home?

[khalid]

My in-laws recently puchased a future retirment home in Florida. They are not planning on retiring for at least 5 years. They asked my husband and I if we would like to move there and live rent free in exchange for taking care of the house. We live in Colorado so it will be a big move for us. What should I be considering before moving? I'm talking about ground rule we need to discuss with the in-laws.

[anson34]

Wow Be sure you both want to go
Use this as an opportunity to SAVE To build your future
1st thing is there work
2nd think about leaving family
3rd talk to & ask in-laws for their ground rules

[byron92]

Get everything in writing. Who pays for capital maintenance and upkeep, real estate taxes, insurance, both home owners and Title?. You will need contents insurance same as a renter to protect your personal property. Spell out exactly what "taking care" means. What tasks and expenses are included? Are you expected to replace old or worn out appliances and will they be yours to take with you when your inlaws retire and move in. Who fixes the heating and cooling units if they require it? Where is this home? Is it in some gated community with crazy covenants that require you to get permission to blow your own nose?

Aside from that can you and your husband find jobs there, is the neighborhood going to be compatible for you and your kids/pets, will it mean you are far away from your own family and will you be able to afford to travel to spend time with them.