Buying a Home as an Unmarried Couple

Ask Connie: Your Real Estate Pro

buying a houseDue to the nature of today’s culture, it’s more common to find unmarried couples/significant others purchasing a home together. While this may seem like a romantic notion or a way of taking a relationship to the next level, it’s critical to realize the precautions that must be taken so that the process is done right. Do your homework ahead of time to alleviate future potential headaches.

Because a property agreement is a legal contract, if your relationship doesn’t last, it can be even more difficult to get out of co-owning the home than it is to file for a divorce. Are you splitting the investment evenly? Is one person putting more money into it at the beginning than the other? These issues all factor in, since if the relationship ends, one person may actually own more of the house than the other does. So it’s best to talk things through…

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