Over the years, I’ve seen a lot of buyers get in the way of themselves. When partners aren’t honest with each other, a home purchase may never materialize.
If you are buying a home or property with a partner or spouse, take the time to talk about what is important to each of you. Sit down together and write out each of your wants & needs in a home, and then share with each other. Decide which items you can both compromise on, and remember that communication is key. You must decide what you want collectively. Savvy buyers will have this conversation before seeing any houses in person.
Similarly, if you are purchasing with a friend, draw up a partnership agreement that addresses percentage of ownership, and the amount that each of you has invested as a down payment. It should also address the process of one of you wants to sell your interest. This will ensure everyone is on the same page from the start!