Buying a home with friends sounds like a dream, right? Sharing costs, hanging out by the fire pit, and splitting solo weekends at a fraction of the price—it’s a tempting idea. But as *The Wall Street Journal* reports, the dream can quickly turn into a dilemma when you want out.
Take Celeste King, for example. In 2021, she invested $100,000 with two friends to buy and renovate a lake house near Austin. But after two years, the time and energy spent fixing it up—and the stress of vacation renters breaking pool rules—left her wanting out. She had to make a tough choice: give up her share of the 50% appreciation on the home’s value, or risk her friendships.
Many people bought homes with friends during the pandemic when solo ownership seemed out of reach. Data shows co-buying surged, especially as housing prices spiked. But now, as some look to exit, they face the tricky task of untangling finances without damaging relationships.
Now, I can't imagine attempting this. It's hard enough cohabitating with someone you love, let alone be financially tied to a friend, no matter how close they are.
This phenomena screams desperation. These are people who badly want a piece of the American dream, but know it's out of reach. It's actually pretty sad.
What about you? Would you buy a home with friends, or does it sound like too much risk?
On that note, I’m James Brown, and as always, be well.
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