There’s a new new home-buying trend for Gen Z: “Houses before spouses”.
In essence, more and more people are buying houses with close friends rather than “waiting” for a romantic partner to come along. Then, when and if someone pairs off into a relationship – they sell the home a split the costs and move on.
This way, they aren’t trying to figure out how to purchase and maintain a home all alone, but rather enjoying the perks of home ownership (and equity) with a friend instead of paying rent!
The main warning message from those who have been burned
If you do decide to buy a home with someone you are not legally tied to, from personal experience, PROTECT YOURSELF just in case the relationship goes south. Make sure you have some sort of legal agreement beforehand.
The overall 3 main “pros”:
You can get approved for loans faster
You can work together for down payment
Use the properties as an investment.
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