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Elizabeth Weintraub

Home Buying With a Roommate

By April 3, 2013

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To stretch how much a buyer can qualify for, some home buyers are asking a roommate to buy a home as tenants in common instead of renting.

This can be a friend, an acquaintance, a person you work with, somebody you've known your entire life or even a person you plan to settle down with until the day you die. Buying a home with a roommate can make it much more affordable, especially if you've got two people to split the down payment, the closing costs and the monthly mortgage. But like renting a home with a roommate, there can be problems if you're both not prepared to deal with the unexpected.

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

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