Property in Pairs

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Q: Some friends and I are thinking of buying a summer home. Any things I should be mindful of before entering this type of joint property purchase?

Buying an apartment with friends can be great or it can be a disaster. In most cases, it depends more on your relationship with that friend than with the property you are purchasing. For example, lets say in 2 years you want to sell it for a profit but your friend doesn't. What then? It can go from this is a great idea' into what the heck was I thinking' really fast.

Maybe a better idea is to purchase a home near your friend. Or if you really want to get a place with a friend, how about renting? This way there is no long term obligation or commitment. It might not be as thrilling as buying, but it might keep your friendship intact!

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