Buying a House with Friends
Due to high housing costs, many young people are considering buying a house with friends to split costs. While this can help financially, it can also strain friendships, so open communication and legal agreements are essential.
Key Points
- High housing costs are driving young people to consider buying with friends
- Open communication and legal agreements are crucial
- Co-ownership can help overcome financial barriers
Pros
- Lower deposit and shared mortgage payments
- Increased borrowing potential
- Ability to get on the property ladder
Cons
- Potential for financial disagreements and stress
- Risk of straining friendships
- Legal and financial complications