Buying a house together We aren't married... or engaged for that matter
Posted Mon Nov 01, 2010 02:12 PM
Me and my girlfriend are both planning on moving in together, and I will probably ask her to marry me sometime in the next year. We both agree that we should buy a house instead of renting a place. The money we would be throwing away in rent could be put into the equity of a house.
Although neither of us has said anything, I can tell we both want the house in our name. Worst case scenario if for some reason we were to split, is there anyway as a dating couple that the equity be returned to one of us by law?
Posted Mon Nov 01, 2010 02:22 PM
Posted Mon Nov 01, 2010 03:40 PM
Posted Mon Nov 01, 2010 06:46 PM
Posted Mon Nov 01, 2010 06:51 PM
your solicitor will deal with all of this anyway. My ex husband and I owned our house together, I owned 70% and he 30% as I put the deposit down and thats how the lawyer said any equity would be split in future
Posted Fri Nov 05, 2010 02:34 PM
Posted Fri Nov 05, 2010 03:15 PM
One of you could add the other to their lease (i.e. you add her to yours or she can add you to hers), and you can move in together that way. You could choose the apartment where you tend to stay more nights. If you stay at hers for four nights a week and at yours for two nights a week, then move to her place. Or you can choose the apartment that's larger. There are positives and negatives, so try to weigh the options together before making a decision.
If you move in together in one of your two apartments, then you could stop making two rent payments every month. It is a sound financial decision.
Posted Fri Nov 12, 2010 07:38 PM
-market still can drop prices as there is NO tax credit for fthb's due to drop in demand
-No tax credit incentive to you (if your combined income isn't over 250k I think?)
-There's been no significant decline in unemployment... more foreclosures to increase supply
-its something to do as husband and wife, use this year to keep an eye on the market and get good feel of prices, go house hunting to get feel of prices, but not to buy (for now).
This post has been edited by kevb: Fri Nov 12, 2010 07:38 PM