Is it reasonable to go ahead and buy a house at 22 yrs old with your 23 1/2 old boyfriend?

Question

There are not many rent homes in our small town that why our other option is to buy a home. Should we?

Answer 1

I'm sorry, but that is the most foolish thing you do right now.  You may be committed to each other but:

1.  You're young

2.  Things can change very quickly in life when you are young

3.  It's just dumb to shack up anyway and be his free prostitute.  (Seriously, why would any guy want to tie the knot when they can just get some whenever he wants anyway)  Plus, you're worth more than that - respect yourself and save it for marriage.

4.  Don't buy a house until your married AND until you have debts payed off and have enough to COMFORTABLY afford the payments plus taxes.  (Generally buy a house that is double your yearly take home pay or less).

Good luck.  Someone has to tell it to you strait.  Too many people beat around the bush or try not to hurt peoples feelings.  

Do the right thing.

Answer 2

Not without a clear, written agreement as to what happens if the two of you split up.  Getting out of a such a deal is, in many ways, more difficult than ending a marriage.  

Answer 3

NEVER!!!!!!!!!!! buy real estate with a boy or girl friend.  

In your case (based on your posts), this boyfriend hits you and is cheating.  WHY!!!!!!!!!! would you ever want to stay with him or buy a house with him.

Plus you are moving out of your parents house to this situation.

Suggestion.  

Get a small place on your own.  Dump him and start fresh.

Answer 4

Why not get married? If you are going to play house, you should make it legally binding. Otherwise, why do it all halfway? When you split up, the division of assets and equity will be a mess.

Answer 5

It's not a good idea. There are too many pitfalls and when you're young life changes in a heartbeat.  If you are determined it won't change, then make sure if nothing else that you take title as Joint Tenants.  

Answer 6

Marriage laws lay out all sorts of rules.  

What happens when one person wants to sell and the other does not?  What happens when one person leaves and the other one can't make the payment by themselves- and yet is stuck?  Who is responsible for paying for repairs?  There are thousands of reasons most friends should not buy houses together and romantically involved friends often have even more reasons.

But if you are going to do this I would recommend that you get a lawyer to write a partnership agreement of some sort for you both.