Decision - rent together first or take the plunge and buy

x90tsb

Hi everyone,


Bit stuck and need some advice!


I have been with my partner 4 years now, we have been planning (and saving) to move out of our parents homes for the past year.


We now have quite a big deposit together and are nearly in a position to move out and in together. But, as we both currently live with parents, we have never lived together, we haven't even considered renting a place together before buying but my partners sister thinks we should to see how we get on, before buying (Although my mum thinks we should forget renting, and just buy).


I'm not sure, I think we would be fine buying together straight away but also appreciate that's easy to say, the longest we have "lived" together is on holidays etc for 2 weeks, and that is no problem at all. Although I have heard the saying "you don't really know someone until you have lived with them".


So my question to you guys:


Do we A - Rent somewhere together for a period of time to see how we get on before buying. I do sort of feel put off a bit by this, A its a waste of money, and I think if we were to have "problems" renting is an easy way to get out, instead of working things out?




B - Get on an buy, putting as much into the deposit as possible, and take the risk on how we get on?!


I honestly cant see it being a problem us going straight ahead and buying, but I would really appreciate any advice/suggestions those of you "who have been there and done it" can offer....


Thanks in advance,


Tom

Manchee

How old are you both? Have either of you moved out of home previously? I don't think I would feel comfortable making such a huuuugh financial commitment like buying property with someone I hadn't lived with previously

x90tsb

I'm 24, partner 27, partner has moved out of parents home for couple of years with work but back home again.. Thanks for reply!

burnoutbabe

it could take ages to find the right place to buy together, or you rush into something that is wrong so you can get on and live together.

So I'd rent first and start to look in a few months time.

sarah69696pink

Personally I would want to rent first, but I have many friends and family that have taken the plunge and bought together and it's all worked out fine - only you can really say. I'm very risk adverse so rarely jump into things!

fairy_lights

I would rent, definitely. You'll be able to get an idea of how you will manage your finances and how you will divide housework etc, but it will also help give you an idea of what you do and don't want in a property when you buy.

Waffle_On

Having watched several friends have to deal with a very messy and costly breakup soon after buying together, I'd say live together before you buy together.

millysg1

I say buy. BUT make sure you legally cover yourselves to make sure you are covered if you need to sell up because youve broken up. Have the hard but honest conversation upfront - what would we do if we brok up in 1, 3 , 5 years time.is it 50/50 split?
Also, how are you paying bills? Who does what chores. Who is responsible for what? make sure your expectations are the same for when you move in. How are the finances going to work?

Me and my OH didnt rent together before buying a place together BUT we had both lived away from home for a few years at uni (it was important to me that i wouldnt become my OH new mum and do all the cooking, cleaning, changing bed sheets. I wanted him to know how to take care of himself). Also, we went back packing for 3 months just by ourselves and we had no problems.

FYI we are married now 4 years later with baby on the way. So worked for us.

lazywife

I'd say rent for 6 months. The money will be well spent to make sure.

victory

I would say rent, coming straight from parents house to your own house can be a very large eye opener, rent short term, see how it goes:D

CP26

Rent first and see how you get on as a house purchase is a difficult thing to get out of once it's done.

I moved in with my now ex-husband before we got married. I wanted to rent first but was persuaded to buy. We paid top dollar for a house in a not great area, got married and then it all went pear shaped. Because we bought a place I think we both felt compelled to keep trying to make our relationship work when in fact if we'd have been in an easier position to split we probably wouldn't have got married at all (ah hindsight and naivety)

We've been divorced for 9 months now and separated for 2.5 years and I'm still on the mortgage. Fingers crossed it'll be sorted by the end of the year but all the time in between I'm still at financial risk if he were to default.

There's no guarantees either way but if I could do it again I would definitely rent first to make sure we worked well as a couple with all of life's little hiccups.