tutorquestion90 t1_j6ofqf2 wrote on January 31, 2023 at 7:42 PM Reply to comment by UltimatePlayer3301 in Is it feasible to buy a house with 3 friends for my 4 years in college (or maybe longer)? by UltimatePlayer3301 You’re taking a big risk that everyone will contribute. Also a rule of thumb is that you’ll lose money if you don’t keep it for 5 year’s minimum. There’s also closing costs and all that too. What if you get a roof leak and you need to hire someone? Do you want to go through that? Water heater breaks, furnace goes out. Anything. One of you will have to sign the paperwork. Everyone else could bail and that person is stuck holding the bucket. It’s a huge risk. Just rent during this time Permalink Parent 3
tutorquestion90 t1_j6nfdi4 wrote on January 31, 2023 at 3:59 PM Reply to comment by Traditional_Link_555 in How Bad Of a Financial Decision Would it be for my partner to buy a car? by Traditional_Link_555 Buy it in Florida and drive it to Georgia? Permalink Parent 1
tutorquestion90 t1_j6ofqf2 wrote
Reply to comment by UltimatePlayer3301 in Is it feasible to buy a house with 3 friends for my 4 years in college (or maybe longer)? by UltimatePlayer3301
You’re taking a big risk that everyone will contribute.
Also a rule of thumb is that you’ll lose money if you don’t keep it for 5 year’s minimum.
There’s also closing costs and all that too.
What if you get a roof leak and you need to hire someone? Do you want to go through that? Water heater breaks, furnace goes out. Anything.
One of you will have to sign the paperwork. Everyone else could bail and that person is stuck holding the bucket.
It’s a huge risk. Just rent during this time