Buying a house: which scenario is better?

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Buying a house: which scenario is better?

Buy the house by myself, pay 100% of the mortgage/down payment myself, I own 100% of the house
10
83%
Buy the house with a woman, split the mortgage/down payment 50/50, I own 50% of the house
2
17%
 
Total votes: 12

Topic Author
INTRESIS
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Joined: Sat Nov 15, 2014 12:39 pm

Buying a house: which scenario is better?

Post by INTRESIS »

Buying a house: which scenario is better?
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ResearchMed
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Re: Buying a house: which scenario is better?

Post by ResearchMed »

Buying the house yourself is one option you've given.

The other is "Buy the house with a woman, split the mortgage/down payment 50/50, I own 50% of the house".

Is there something presumably peculiar about purchasing a home with a woman that wouldn't occur with a man, or a more general "significant other" or "partner", etc.?

RM
This signature is a placebo. You are in the control group.
Topic Author
INTRESIS
Posts: 94
Joined: Sat Nov 15, 2014 12:39 pm

Re: Buying a house: which scenario is better?

Post by INTRESIS »

ResearchMed wrote:Buying the house yourself is one option you've given.

The other is "Buy the house with a woman, split the mortgage/down payment 50/50, I own 50% of the house".

Is there something presumably peculiar about purchasing a home with a woman that wouldn't occur with a man, or a more general "significant other" or "partner", etc.?

RM
this would probably be a wife at that point.
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grabiner
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Re: Buying a house: which scenario is better?

Post by grabiner »

The advantage of buying the house jointly with your wife is that your combined incomes would be used to qualify you for a mortgage, and thus would allow a higher monthly payment. Even if you plan to buy the same house, there is still an advantage, as you could take a shorter-term mortgage to lower the interest rate, or put less down to borrow a larger amount.

The disadvantage is that qualifying for the mortgage would depend on your wife's credit history as well as yours. If your wife has a poor credit history, this might lead to a higher rate, or might make it impossible for her to get a mortgage; you might need to apply in your own name even if you are married.
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Sportswhiz00
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Re: Buying a house: which scenario is better?

Post by Sportswhiz00 »

Without having any facts, my view would be if that she ends up being your wife at some point, and stays your wife, you should at the end of the day have been indifferent because your combined net worth will be the same. If she is not your wife and does not become your wife, it's going to be messy to sort it out financially at some point even if it's an amicable breakup. Tails you break even, heads you lose.

If you provide facts, I'm sure people can share their experiences, since I'm more or less talking about of my arse here.
jjface
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Re: Buying a house: which scenario is better?

Post by jjface »

is she good looking?!
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jfn111
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Re: Buying a house: which scenario is better?

Post by jfn111 »

I'd say if you're not married and not planning on it I would buy the house myself.
GoldenFinch
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Re: Buying a house: which scenario is better?

Post by GoldenFinch »

Married? Buy it together.

Not married? Buy it alone.
Dandy
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Re: Buying a house: which scenario is better?

Post by Dandy »

Buy a house with a "woman" - not sure what this means except a co owner that isn't related to you by marriage. I say not a good idea. Divorce has its own issues by a non spouse co owner is just asking for trouble. You need both parties to sell and if one wants out the other has to buy out him/her out. What is a fair price is it isn't on the market?

I'd rather have a bank mortgage than a non spouse co owner.
Trader Joe
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Re: Buying a house: which scenario is better?

Post by Trader Joe »

Buy the house and own it 100%.
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