Buying a Home with a Friend

When friends buy a home together, it’s crucial to have a clear plan for managing the property. This includes splitting costs and responsibilities fairly to avoid any potential conflicts down the road. One of the first things co-buyers should do is sit down and honestly discuss their financial situations and expectations.

This will help determine how to equitably split expenses like the mortgage, property taxes, insurance, and maintenance costs. Putting pen to paper and hashing out who’s on the hook for what is always a smart move.

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