Couple’s Rent-Free in-law Plan Gives Savings a Boost

By: James Daw | Moneyville.com | July 2, 2012

Read More, and see what Scott Plaskett says about living with your in-laws to save.

What’s old is new again for a Toronto family aiming to enjoy a home, an educated family and travel vacations despite inflated mid-town prices.

June, 30, volunteered for a traditional approach to accumulating wealth and rearing children when she married Clark, 36, last year. She moved into his parents’ home, near where they hope to buy a house.

The deal was they would get free room and board, live relatively close to their public-sector jobs, and have the potential to save for a home large enough for themselves, one or two children — and for Clark’s parents, too.

It’s a tried and true strategy for securing comfortable lives for three generations, made more enticing by the potential to continue enjoying travel vacations on a family income of about $102,000…

living with your in-laws to save