30 year marriage. Hope you like each other and get along perfectly. As said…HORRIBLE idea.
there is actually only ONE scenario where this would be a good idea…purchasing a home that needs significant updates that is listed far below the value of surrounding homes in the neighborhood to do a flip-job on.
I.E. the two of you joint-purchase, and split the costs/work to update the living hell out of the house on a budget over period of time “X” and then list the house for sale and split the profit.
Until ‘Friend A’ decides he no longer wants to waste his time on the house and leaves ‘Friend B’ to do the work and put in funds himself. Then when ‘Friend B’ finishes the house and wants to put it on market, ‘Friend A’ expects half, since it is half in his/her name.
yes, but the difference with this scenario and just living in the place GREATLY reduce the risks. At least this way the timeframe is far shorter, and keeping reciepts and keeping paper/spredsheet record of who spent/did what will help keep shit even, and should one of the two bail at some point, the other has those records to take to court if it came down to that. Could even go so far as to have both parties initial each time the records are updated if there is really that much worry.
Two guys I work with became pretty good friends and have started flipping houses TOGETHER in this same fashion, and they’ve been doing so for a couple years now, with about 12-15 houses under their belts and it’s worked out great for them.
I’m just saying thats really the only way this should even be considered
I guess I just jump into things with my thoughts to quickly. I didn’t even discuss this with my mom when I was talking to her about homes, sorta knew what she would say. I knew it was a bad idea in the back of my head but I found a house that is perfect and I wanted it. I talked to my friend and he is willing to rent from me so I’ll see where I can go with that and if I can’t afford this house I’ll move on. Thanks for the kick in the head lol.
:tup::tup::tup:
NYSpeed - Life coach forum.
I’m guessing you knew it was pretty likely she was the one you were going to marry though when you decided to buy a house together. Either that, or you’re dumb. 
When we bought our house my wife and I were engaged but hadn’t officially tied the knot. Her maiden name was on the mortgage until we refinanced.
went through some shit when we got married, her maiden was on the first house w/mine, and when we went to sell… it got sticky, bunch of red tape.
I know someone who bought a house with their gf lol!
just be careful here…more than once I’ve had a friend say they were 100% going to be my roommate in a renting situation, and then move-in day comes and they bail. Make sure you can afford to live there without a roommate just in case!
yeah, we knew…we would have probably waited longer, but we wanted to buy while Obama was still offering us a free 8 g’s.
I’ll have money in the bank to fall back on for sure. Going to get my student loan payed off very soon so the only bills I will have are house car insurance and phone. I should be getting a decent raise here soon as well. Kinda was use to just blowing money and not really caring to much. That’s really the only thing I need to change is my spending habits and I will be set.