top of page
< Back

Purchasing a Condo

Save this article  > 

Buying A Home With Friends - Can It Work The Pros and Cons

Toronto Realty Boutique
Publication date:
December 1, 2022
Article Summary: 

Buying a home with friends is an option for those facing challenges in purchasing a single-family home in the soaring Toronto real estate market. There are pros and cons to buying a home with friends. The pros include easier home loan qualification, shared monthly expenses, and home equity gains, while the cons include difficulty moving, potential credit score damage, and difficulty qualifying for other loans. To ensure a fair arrangement, the parties should get everything in writing, split the house evenly, determine the percentage split of the home based on square footage, layout all cost splits, create two bank accounts, and set a time each month to review expenses and costs.


buying a home, friends, Toronto, real estate market, home loan qualification, shared monthly expenses, home equity gains, credit score damage, moving, loans.

Source Citation: 
Toronto Realty Boutique
Buying A Home With Friends - Can It Work The Pros and Cons
December 1, 2022
Did you find this article useful? 
Your feedback is important not only to us, but to all the other key players in the condo industry.  Help us by letting us know if this article is relevant and useful.  This will help us prioritize articles that provide helpful guidance to other key players like you. 

Please login to use this feature.

bottom of page