How do I buy a house with a friend?

Eric, it is nice to see that you are ahead of the curve and thinking of worst-case scenarios. Make sure you have an agreement in place that outlines all of these possible scenarios. The biggest concern would really be if someone wanted to move out as although, in theory, a buyout would work, you have a limited buying pool, so typically the house ends up getting sold. I would suggest both you and your friend speak with an attorney to discuss the options available to you and ensure you are both on the same page. Best of luck! Keith Jean-Pierre Managing Principal The Dapper Agents Operations In: NY, NJ, FL & CA

This is a popular concept now with high home and rent for young adults and seniors. Before you move forward -- make sure you take into consideration that buying a house is a long term event. Where do you plan to be in 5 years or 10 years? How about your friend? There need to be a lot of questions asked and answered and maybe some legal documents created. If one of you looses your employment, couples up, want to move or your friendship changes -- how will that be handled, etc. There are greater chances for financial setback buying than if it is just your roommate. Do your research and ask those difficult questions before proceeding!

Eric, this is a great question and a tricky one for sure. Values are up and housing has become less affordable but buying with a partner can be amazing and disastrous. The only way to get someone off a deed in most states in through a refinance so if you do not see your income changing drastically if things did not work out you would be forced to sell. I would be very cautious about this arrangement. Concord, ma real estate