My dad lives in an apartment I own. The value has doubled, and I want to sell it - what should I do?

"Dear For Love & Money, Around four years ago, I upgraded to a larger apartment. Upon his choosing and against my advice, my father sold his apartment. We agreed that he could move into my old one, and he has been Meanwhile, the loan amount increased, and to reduce the monthly payments, he gave me some money, which I used to pay down the debt. Nowadays, he pays around ⅓ of the market price for renting a similar apartment in the same area."

"Dear Stay or Sell, From the sound of your letter, you have a sense of what would be best for you financially, but have mixed feelings about how to proceed. However, it's unclear whether your mixed feelings stem from uncertainty over your father's reaction to your proposed transition, or if you're reconsidering the arrangement altogether due to his personality and your closed-off relationship."

The reader moved to a larger apartment and allowed their father to live in the old unit after he sold his own place. The father contributed money to reduce the loan and has paid a reduced amount since, effectively paying far below market rent while the apartment value doubled. The reader considers selling the unit, buying a comparable apartment nearby for the father, and using remaining funds to lower their mortgage. The situation presents two main options: maintain the current arrangement with the father living in a purchased unit or sell and end the housing arrangement. Clear, transparent communication and prioritizing the relationship and boundaries are recommended as primary considerations.

Read at Business Insider