Q: My boyfriend and I would like to move in together, but I can’t find affordable rentals that allow pets. With interest rates and prices drop, I’m thinking about buying a starter home. We both have good work and strong trust. My mother suggested reading your column and asking if this was a good idea. thank you! – Rita
A: I have never met any of your important others so I can’t say if it’s a good idea or not, but with a proper plan, buying the property together works well.
Whenever someone who is not married to each other buys real estate together, I recommend drafting a written agreement outlining what each of you is responsible for, and discussing what will happen if you break up.
This is especially important if you are offering more down payments than others. If your relationship is sour, once an agreement is in place, it will be easier and costly to deal with the property.
The process of preparing a joint ownership agreement can also help you set it up for success. Among other details, you need to discuss who is responsible for the costs and maintenance, and what happens if either of you has a career setback or if you get sick and can’t pay the stock.
Drafting a contract is not fun (unless you’re a lawyer), but dealing with these potential issues in advance can make a huge difference in your relationship by ensuring that you are both on the same page.
It is a strong indication that if you can’t cooperate enough to draft an agreement, you may not be prepared to buy a house together.
If a dispute is inevitable, a joint ownership agreement will make it easier and cheaper to resolve the dispute.
For example, adding the requirement to attend mediation before filing a lawsuit often helps prevent small disputes from becoming a long-standing legal battle. Even if it becomes a lawsuit, it will be cheaper as the contract sets your rights and liability and less discussions for your lawyer.
Board-certified Real Estate Attorney Gary Singer writes about legal issues in the industry and the housing market. To ask him questions, email him at gary@garysingerlaw.com or visit sunsentinel.com/askpro.
Original issue: March 20, 2025 6:30am EDT
