Is financing with 2 parties possible?

Hello everyone,
We are considering integrating my father into our house building project because he is sick and probably cannot live alone for much longer. Our idea was possibly to design a kind of granny flat for him above the garage. Now, of course, the question of financing arises. How could such a constellation be implemented? We have also considered whether an early payout of the inheritance would make sense.
Best regards, Sonja

How could such a constellation be implemented?

It is not only a question of financing, but also of ownership! Does the father pay rent or not? How and how much equity does the father contribute?

1. Plan a two-family house (condominium ownership) and each party pays their share
2. Build a house with two apartments, you become owners, but the father joins the loan agreement and pays no rent
3. Build a house with two apartments, you become owners, you finance alone and the father pays rent
etc.

Many constellations are conceivable regarding financing and ownership. It depends on your ideas what is suitable then.

If the father is heading towards needing care, the question is also HOW and WHERE he can be accommodated in your project. In my opinion, the issue of accessibility would need to be considered and, in the course of this, it should also be clarified whether his living space needs to be on the ground floor.

Thanks already for the information. We had so far thought of a granny flat above the garage and are not sure about ownership issues. We would prefer if we were the full owners and he has a lifelong right to live and stay. That is probably legally easiest after his passing, right? (I have a sister who would inherit as well) Best regards

In such a constellation, there is far more than "just" the financial aspect. Look ahead with open eyes - is care dependency becoming apparent? Are the approaching limitations of a physical or mental nature? How quickly is the process progressing?

If your father lives next door, it means that you will be involved in caregiving. Of course, this is commendable and often manageable - still, I recommend (from my own experience) to keep a clear view forward.

Now back to finances: If there are other heirs, make sure that you do not end up in an awkward situation if your father has to move out for health reasons - whether due to claims or accusations.

Yes, that was exactly my thought as well, in case he has to leave or dies, that the house belongs to us and not partly to him and thus somehow also to my sister. We get along very well, but I just want clear arrangements, as we suspect dementia due to age.