Friends buying homes together can make economic sense

This weekend the Star Tribune ran an article (Home-buying buddies, Dec 9, 2005) on buddy buyers, which are friends of roommates that buy homes together sharing expenses and equity or solo buyers who intend to rent to friends and colleague.

Buddy buying is a phenomenon that is growing with Gen X-ers and Gen Y-ers, people who are interested in buying but lack the resources along to make it practical. With home values rising so quickly and many people getting married much later buddy buying is a tactic that makes sense.

Most buddy buyers are buying for the first time. They are buying into a different investment than their parents did – so they are in great need of buyer representation, sich as Minnesota’s Buyers Real Estate Group – real estate agents who look out for the interest of the home buyer exclusively.

Category: Mortgage Info

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