As house prices rise, people will come up with creative solutions to purchase homes. As such, you may be looking at buying a home with a friend. You might have been friends for a long time, and your lives take you to the same place. Buying a home together makes sense right? Here’s something to think about.

There’s no moving out. You might be great friends now, but life gets in the way. Whether you don’t get along anymore or there’s a serious life change, moving out isn’t that easy. Since the mortgage is in both of your names, you’re both responsible for the home. You’re tied down, in a sense. The only way to get out of that mortgage is to sell the house or refinance it. Both these solutions are complicated and time intensive. It’s nowhere near as easy as moving out of an apartment you rent together.

To get an idea of what’s available on the market, you’ll need someone qualified, someone like Otis Jones. Give him a call at 310-569-3838.