So my husband and I both work full time and we make pretty good money. We just found out we are pregnant with our third child due in may. We are 28 with a 5 year old and 2 year old. We want to save money for a down payment for a new house in the next 7 months so we could be moved and settled before baby comes.

One option we are considering is moving in with my husbands parents in their 5 bedroom house ( we would be able to have two bedrooms upstairs away from everyone). By doing this we would be able to rent our current house starting next month for $1200/month. After paying the mortgage (including taxes and insurance) we would have $400 left over each month for maintenance, upgrades or profit.

With still having to pay for daycare/after school for our kids we would be able to save about $17k in cash for our down payment/ pay off credit cards by April. (Mind you we would be living on a very restricted budget to make this happen, but it is feasible).

We bought our current house when we were 20 and have been fully independent from our parents since we graduated high school. So obviously this would an adjustment for all of us, but it's only for 7 months...

The reason we are considering this option was to keep from borrowing from my 401k for a down payment.

Does anyone have experience doing this and did it work out for you? We pretty much always get a long with his family and honestly we aren't home much since we both work, both kids are in school and we usually have plans on the weekend.