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To buy or not to buy with friend...?

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Comments

  • chickmug
    chickmug Posts: 3,279 Forumite
    Beyonce wrote: »
    A 3 bedroomed semi but with rota times for the kitchen and bathroom agreed and posted in the kitchen. Even the fridge had bits of cardboard in it to seperate his and hers. So laughable but and so immature but was true:confused:


    That would be my worst nightmare!!!

    I have have been on holidays with my best mate, and she currently has lived with me for the last month, and I am happy she is staying. But as u said - anything can happen...[/QUOTE]

    Despite the 'doom and gloom' predictions I think you need to be aware but I AM SURE there are many that do it and it works out great. So get your gut instinct into gear and go with it.

    Good luck:j
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • Beyonce_2
    Beyonce_2 Posts: 13 Forumite
    Thanks Chickmug. Im really not sure to be honst. Sounds like an easy option to do, but with many complications as the OP said...need to look into this more.
  • chickmug
    chickmug Posts: 3,279 Forumite
    Beyonce wrote: »
    Thanks Chickmug. Im really not sure to be honst. Sounds like an easy option to do, but with many complications as the OP said...need to look into this more.

    In life it is best to wait until you are really sure but that never seems to happen:mad: Does it?

    Perhaps you need a crystal ball;)
    A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.
  • Beyonce_2
    Beyonce_2 Posts: 13 Forumite
    A crystal ball is just what I need!!! Lol!!! Thank you everyone for all your advise. Id also be interested to hear of any experiances people have had buying a house with a friend...
  • before_hollywood
    before_hollywood Posts: 20,686 Forumite
    chickmug wrote: »
    My - you sound bossy:p

    But you have the right idea providing you really do know your friend. I thought I knew one of my friends when I went into a business partnership with him. I broke it a few years on as he wasn't the person who I knew as a friend - he turned out bone idle:mad:
    she was the one who said the whole landlord/lodger thing.

    i'm thinking more along the lines of an unpaid house sitter that pays towards the bills in return for not going home :rotfl:
    things arent the way they were before, you wouldnt even recognise me anymore- not that you knew me back then ;)
    MercilessKiller wrote: »
    BH is my best mate too, its ok :)

    I trust BH even if he's from Manchester.. ;)

    all your base are belong to us :eek:
  • lostinrates
    lostinrates Posts: 55,283 Forumite
    I've been Money Tipped!
    Beyonce wrote: »
    A crystal ball is just what I need!!! Lol!!! Thank you everyone for all your advise. Id also be interested to hear of any experiances people have had buying a house with a friend...

    I have a couple of friends who've done it, in London in the peculiarity of the property market which has seen quite well off young professionals unable to buy alone. The ones who seem to have more success are all male households of three people. Less concerned with decisions over what colour loo roll matches the bathroom decor (buying the cheapest/easiest to reach on the shelf...) and what curtains to buy (the cheapest t IKEA etc) and accepting that only non serious girlfriends/one night stands are acceptable! The three I'm thinking off in prticular have an ''annual review'' before the end of each tax year, and have gone on to also buy an investment property and agree that the one they live in will remain an investment when they out grow their living arrangement: with who ever leaves providing rent to the other two/letting his room. They could all now afford to buy alone, but baying this way have given them more room and house rather than a flat (first property now let was a flat). They are all fairly well paid and don't feel ''trapped'' financially in the relationship eforced by the house.
  • before_hollywood
    before_hollywood Posts: 20,686 Forumite
    Beyonce wrote: »
    Who would your friend be paying the rent to?
    me

    i would set up a special account at her bank so i get it the same day by direct debit rather than waiting 5 working days.

    just not touch the money till the bills come in and send cheques out till i have enough history for reliable fixed direct debits :j:j:j:j:j

    those would come out my main account with the other being used as an emergency fund
    things arent the way they were before, you wouldnt even recognise me anymore- not that you knew me back then ;)
    MercilessKiller wrote: »
    BH is my best mate too, its ok :)

    I trust BH even if he's from Manchester.. ;)

    all your base are belong to us :eek:
  • Beyonce_2
    Beyonce_2 Posts: 13 Forumite
    before_hollywood wrote: »
    me

    i would set up a special account at her bank so i get it the same day by direct debit rather than waiting 5 working days.

    just not touch the money till the bills come in and send cheques out till i have enough history for reliable fixed direct debits :j:j:j:j:j

    those would come out my main account with the other being used as an emergency fund


    Thats a great idea. My best mate knows that I am going to sell my flat and buy a house. Maybe she can be a lodger, suppose it will be mates rates though. Its such a big step to take, and I want to be 100% on my decision - as I am now 50% - 50%
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