I rent a house.I live in Michigan.I have been with my boyfriend for 7 years. Our relationship is strong.?

Question

My boyfriend and I rent a home together. I have a 13 year old child. Although I am secure in my relationship with my boyfriend I am afraid to enter into buying a house together. I am divorced. I have excellent credit, my boyfriend has basically none. I could buy a home in my name only. But without his payment, I would be strapped! I could still make the payment if I did not receive his half of the payment but I do not want to enter into something that would make me stressed about money. I am 39 yrs old. What should I do?

Answer 1

If you are divorced......You know that a mortgage is more binding than a marriage. Trust your gut. If you want to buy a home, do it in your name ONLY with a payment you are comfortable with based on your sole income, and get a little rent from him.

Something is bugging you or you wouldn't have asked the question. I think the most important thing I've said is "TRUST YOUR GUT".......

good luck

Answer 2

Keep renting.

Either that or buy a house and have a carefully worded contract that protects both your and your boyfriends interests. I recommend a per-nup style contract that puts your name only on the title but gives him some interest in the house.

How have you allowed yourself to stay in a relationship with a guy who has had all this time to do what is necessary to build a future together? He doesn't sound like much of a catch. even a guy on minimum wage can build a positive credit history if he works at it.

Build a healthy rainy-day fund that is yours only for when you guys split up.

Answer 3

   if he did not improve his income in 7yrs.lose him.he is taking advantage of you.does he pay half of everything now.i hope so.but i would guess not.he will never improve so long as he knows you will pick up the slack.you say your relationship is strong.insist that he carry his end.then you will see how strong it really is.then you will know if you should buy a home.while you are still with him.good luck.