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With the combination of increasing home prices and rents, a growing number of people are deciding to Buy A Home with a friend, relative, or family member.
By combining their resources to raise a down payment and to jointly qualify for low interest rate financing, co-ownership arrangements can provide benefits that wanna-be home buyers may never enjoy (by purchasing a home on their own).
As one would expect though, any home-sharing agreement works better for some, and not others. Each situation is as unique as the co-owners personalities and ability to co-habitate.
When you buy a home with a friend, your co-ownership decision may prove to be a fantastic joint investment, or it could become an incredibly bad decision, depending on your choice of partner and your agreements. All of the details of co-ownership must be well thought out in advance, including expenses, maintenance, lifestyles, financial heath and risks, long and short term goals, separation terms, and even legal advice, which are all vital for a successful co-investment.
If a home sharing investment sounds like a good idea to you, I've prepared a special article called "Buying A Home With A Friend - What You Need To Know." To get a free copy, just call me at (303) 514-4000. Or, sent the easy form below.
Michael Dagner is an expert in Denver-Area home sales.
Call today, (303) 514-4000, for help with your home sale or purchase.
by Michael Dagner: Google+
The Michael Dagner Group, Brokers Guild Cherry Creek Ltd, 7995 E. Hampden Ave, Ste 100, Denver, CO 80231 Map
5 Minutes From The Denver Tech Center - Near Tamarac Square, 9-Mile Station, & Cherry Creek Reservoir