I am buying a house with a few friends.

United States
January 19, 2012 8:51pm CST
I am buying a house on the GI bill where I will be the owner (on paper) and there will be four other people moving in with me to help pay the mortage and other things that a house has. After I move in there are a few things that need to be done to make it safer (it is not unsafe now). One is the wiring and plumbing as some of it is over 50 years old. Another thing is a security system (which will lower the insurance rate on the house. What things did you correct after you moved into a house or 2wil move into a house that you will be moving in to in the near future? Are these things that you will do yourself or will you contract out to have them done for you?
2 responses
@mensab (4205)
• Philippines
21 Jan 12
it is always great to buy a house we can call our own. but you will own it with your friends. it sounds problematic for me. unless you spell out the agreement with your friends, then things will be fine. but my advice, if you want to keep hem as your friends, clarify the ownership and use with them. otherwise it will be hard to keep them as friends. just a piece of advice since my friends got into this arrangement and the house cost the friendship.
• United States
21 Jan 12
Yes , we have written down rules for everyone and we also agree to sit down about once a week to discuss anything that needs to be discussed. The first thing was that we all would pay equally on the mortage and utilities and anything that is "common" to all of us including food. We spelled out a lot of things that need to be done and who will do them. I am sure that there will be stumbling blocks along the way but I do not see any that cannot be overcome. If you can thing of any questions that need to be brought up in this arrangement, please let me know about them.
@fannitia (2170)
• Bulgaria
20 Jan 12
Hi, Oscarbartoni, this should be so exciting to have a new house. I was never able to buy one, even with a mortgage. Fortunately my grandfather has bought an apartment many years ago and I live here with my daughter. It needs a lot of repairing, especially the plumbing and the wiring. But in the current economic situation I can only dream about it. I'm a women, I cannot make anything myself and even if I could, the materials are too expensive for me.
• United States
21 Jan 12
What does being a woman have to do with out not being able to do anything? You can learn to do things just as a man can learn to do things. This is not the first house that I have owned but it has been over 15b years since I owned to first one. I lost it when I got divorced.