Financing Home with Friend

[mandiees]

I know everyone will probably think this is a terrible idea, but would you purchase and finance a home with a friend in a similar situation as yourself? I have heard of many bachelors moving in together and buying a house because of the convenience, but what happens when they go their separate ways?? Could this possibly work?

[bubble]

There is no reason at all why this could not work. If the financial arrangement was made all above board, with both parties agreeing to take on their equal share.

[elvenrunelord]

I've always be hesitant against making business deals with friends. It usually ends up with a fight and failed business. And a lost friend.

[mandiees]

I am glad to hear that someone else has heard of this type of arrangement. A college friend of mine has recently purchased a house with another girlfriend and all I could envision were all types of bad things happening!

[jhellie_baby]

i would rather finance my house on my own. because you'll never know when your friendship stops or you'll have a misunderstanding..

[Mindy]

I think that I would rather buy somewhere smaller on my own than buy half a bigger place. I think it could cause all sorts of problems.

[jhellie_baby]

Originally Posted by Mindy

I think that I would rather buy somewhere smaller on my own than buy half a bigger place. I think it could cause all sorts of problems.

yes i very much agree with you. buying a house with a friend could be complicated.

[mandiees]

To follow up on this post, my friends have decided to buy together, and so far, things are working out ok for them. We will see how it goes down the line though, like when they decide to get married and have kids of their own. Maybe they will flip a coin and see who gets the house??

[jhellie_baby]

Originally Posted by mandiees

To follow up on this post, my friends have decided to buy together, and so far, things are working out ok for them. We will see how it goes down the line though, like when they decide to get married and have kids of their own. Maybe they will flip a coin and see who gets the house??

Well, as far as I am concerned, there is really nothing wrong with financing a home with a friend, but I prefer doing it myself.