Opinions on buying an apartment / house with a friend

hayley33

Hi there

Just wondering if any off you have opinions on buying property with a friend. Due to money constraints buying with someone would help. I would like to think we are honest and smart people but who knows when money and property is involved? Obviously legal matters would be taken care of etc. but off the cuff do you think it is a good idea or not?
Thanks

Jo King

Bad idea. There is little point in buying now with prices and rents falling. Getting involved with a friend in a house purchase is bring a lot of unnecessary hassle in to your life.

The_Conductor

If its an opinion you're looking for- my opinion is that you shouldn't do it, under any circumstances whatsoever.......

Have a look at the number of friends who've purchased together and are trying to get out of their joint purchases even just here on this forum........

What may seem like a good idea now- might not be such a good idea in a few years time- particularly if prices continue to fall and there is signficant negative equity to also take into account..........

Victor

Make sure you get separate legal advice.

Make sure there is a contract specifying what happens in any circumstance where someone wants out.