First time home-buyer questions

somemom
Sat, 04 Feb 2012 14:52:08 +0000

I agree, if he likes the guy, rent, do not buy. My niece & her DH co-bought a home in the bay area with friends, as neither could afford to buy alone. Their plan was to own for 5 years, sell and make enough for a down payment on their own home. Everyone warned them not to do it.

They bought before the downturn which meant when the market went south they had no hope of making the down payment they had hoped for, but worse was the day to day living. The two couples agreed, no kids, they other couple chose to get pregnant by the end of the first year. Plus being enmeshed in day to day decisions with some one else and feeling trapped was brutal. Once the first baby came, things were worse. By the time they got out of it a 2nd child had been added to the mix, it was horrible for them.