While you may think Mom and Dad are too old to consider trading up for an even better house, and believe an increased mortgage to be monumentally too expensive for them, your Parents know better. What you don't know is their complete financial situation and don't realize that the older your parents get the likelihood their income is much more than you had thought. Plus the fact that 50 is still quite young. Also you don't realize that buying a house is an investment that pays off when you sell it as it rises in value over time just by owning it. Lastly I am certain this decision wasn't made without thinking about it, it just wasn't discussed with you.

Instead of trying to talk your mother out of buying the new house I suggest you talk to her about why it is so important to her.

Question Cont'd:

Sorry, I ran out of space.

It just seems irrational to me to be making such a life-changing decision without even thinking about it. She literally saw the listing a day before she made an offer. My dad hasn't even seen the inside of the house yet! What should I do?

What's all this "we" stuff in your question? How much of the current mortgage are YOU paying?

Your parents, and the bank that will ok or deny the nortgage, will make these decisions.

That's sad for you and your family if she decides to buy the house.

3 years ago my mother decided to get a real estate license. In the last three years she has not used this power at all; that is, until just about a week ago. My Mom and I were sitting next to each other in our family room when she asked what I thought about a house. When she came back to me saying that she made an offer on the house I was more than surprised. I was even more shocked when I heard the price. She made an offer for 1.7 million dollars. The problem is that we don't have that kind of money. Our current house is valued at a humble 1.1 million dollars, which is a lot of money but still not even close to covering the price of the other house. We currently have a mortgage of 700k to pay off, and even if we sell our house and pay off the mortgage we will still need to borrow around 1.3 million dollars from the bank. Once she buys the new house the new mortgage price will be 3,000 dollars higher per month than ours right now. Now I know it's not my place to tell her what and what not to do(Im 15 btw), but my parents have reached the ripe age of 50 years. My dad has worked 25 long years to establish his own business and to have a steady 6-figure income. To buy a house like this at this stage of one's life just seems illogical. I mean, we live in a nice house and a nice life. I told my mom that if she wants to move, move to a smaller house, (both my brothers have just gone off to college, so the house has been empty recently) but she won't hear any of it.