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Susan has over 25 years combined in Real Estate Selling Lake of the Ozarks. She has achieved her ABR, GRI and CRI certification. Experienced: Over 25 years combined of Selling Lake of the Ozarks. Respected: By Clients, competing agents and the community. Trusted: The team you can count on when buying or selling property at Lake of the Ozarks, Osage Beach, Porto Cima, The Villages, Laurie, Eldon and Camdenton. Please Sign Up For The Latest Listings and the Latest Real Estate News
Financing Your Home >Buying Cooperatively
Today it is becoming quite common for friends to pool their resources to buy a larger home than either of them could afford alone. Some builders cater specifically to this group of buyers by offering homes with two "master suites" instead of the more typical room arrangement. If you are considering a joint purchase, you and your buying partner should outline clearly your agreements about your shares in the down payment, the monthly mortgage payments, and what you will do if one of you decides to move out.
Before committing to a property, sit down with a real estate professional to discuss your options. Should you take possession as joint tenants? Will you have a 50/50 interest in the property, or should the interest be adjusted to reflect each person's share of the down payment or the monthly mortgage payment? Your agreements with your buying partner should be clearly expressed in writing.
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What is the average price for a home in the United States?
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According to recent data published by the NAR, the national median price for existing single-family homes is now $230,000. |
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