Struggling Homeowners Take on Roommates

In order to reduce expenses, some cash-strapped home buyers are teaming up with a friend to buy a home together as tenants in common instead of buying as a single person.

Personally, I think most single people are better off trying to qualify for a home on their own and taking on a roommate in a rental capacity rather than in a co-owner capacity. The reason is if it's your home, it's your rules. If you own a home with another person, you've got to make compromises.

Plus, taking on a roommate can help make your mortgage payment more affordable . . . read more about Roommates.

More Articles by Elizabeth Weintraub:

• 10 Good Reasons Not to Buy a Home
  
• Buying a Home the Seller Rented
  
• Safety Tips for Women Home Buyers

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}