A woman has spent four years watching her husband’s family make one big purchase after another. This year alone, her brother-in-law and his wife have spent roughly $300,000 on a pool and a boat while juggling two mortgages and a toddler.
She and her husband just bought their first home and are watching every dollar. Meanwhile, her in-laws keep announcing new splurges like it’s a weekly event.
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Nine Cars in Four Years
Her mother- and father-in-law have owned nine different cars in the four years she’s been with her husband. It seems like they trade one in for something new about every six months.
Frequent trade-ins can be expensive. Cars lose value quickly, and swapping them often can mean taking a loss each time while starting over with new payments.
A Bigger House Down the Street
Her brother-in-law and his wife bought a slightly bigger home just 10 minutes from their first one. The new house cost about twice as much and came with an interest rate three times higher.
At first, they said they’d keep their first house and rent it out. After closing on the second home, they changed their minds and listed the first one for sale.
Two Mortgages at Once
The first house sat on the market for a year and a half. During that time, they were paying two mortgages.
Carrying two home loans can put serious pressure on a budget. Property taxes, insurance, and upkeep double too, often costing thousands of extra dollars every month.
Land Paid for by a Forgiven Loan
Years earlier, they’d talked about building a short-term rental and a small farm. They bought a piece of land in another state to make it happen.
Later, the woman and her husband learned that her in-laws had loaned them the money for the land and then forgiven the loan. In two years, the only thing the couple added to the property was a picnic table.
When they sold it, they came out about $150,000 ahead. Since they hadn’t used their own money to buy it, nearly all of that was profit.
A $140,000 Pool
Before the land sale even closed, they signed a contract to build a $140,000 pool at their new house. They still hadn’t sold their first home.
The pool became a regular topic in the family this year. When the woman and her husband visited last month, the pool had just been filled and the patio still wasn’t finished.
A Request for $6,000
This year, the woman and her husband finally bought their first house. On the same day they wrote their earnest money check, her brother-in-law asked her husband for a $6,000 loan to buy a small Japanese utility truck.
He’s also made comments suggesting her husband must be rolling in money now that his career is growing. In reality, the two couples likely earn about the same, though her in-laws have been earning it longer.
A $147,000 Boat Nine Days Later
At the end of the month, her brother-in-law and his wife finally sold their first house. Just nine days later, he picked up a new $147,000 boat.
He traded in an older boat that had been sitting unused in his parents’ garage for more than a year. To pay for the new one, he took out a loan the couple had never heard of before.
When her mother-in-law texted a photo of the boat, the woman asked if they’d won the lottery. Her mother-in-law said they had equity in their first house, even though her brother-in-law had admitted they’d actually lost money on it.
Solar Panels Next
Last month, her brother-in-law also mentioned adding solar panels to their new home. He’s leaning toward leasing them, which could add another long-term monthly payment.
To the woman, it feels like watching a reality show where everyone has regular jobs but the bank owns all the toys. She and her husband are left shaking their heads, wondering what the next big purchase will be and how long the spending can last before it catches up with them.
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