Unmarried couples buying homes together

The number of unmarried buyers in the U.S. has
risen to 8% in 2003 from 5% in 1993, the National Association of Realtors
reports. The category includes groups of at least two buyers who may be
significant others, friends or relatives…. But buying property together can
bring problems into a relationship, and such couples don’t always live happily
ever after, say therapists and singles
themselves.

…On the one hand, the
partners are committing to merge their finances and living space, yet they may
not necessarily commit to making their relationship permanent. They may even
say buying together is a way of “testing the waters” — ironic, he says, given
that couples who buy property jointly are considered married after three years
of cohabitation under “common-law” rules in some states.

This scenario is becoming more and more common.

The number of unmarried buyers
in the U.S. has risen to 8% in 2003 from 5% in 1993, the National Association of
Realtors reports. The category includes groups of at least two buyers who may be
significant others, friends or relatives. For the first half of 2004, such
buyers accounted for 9% of all U.S. residential property
purchases.

But buying property
together can bring problems into a relationship, and such couples don’t always
live happily ever after, say therapists and singles themselves.

In a sure sign of insanity –

On the one hand, the partners are
committing to merge their finances and living space, yet they may not
necessarily commit to making their relationship permanent. They may even say
buying together is a way of “testing the waters” — ironic, he says, given that
couples who buy property jointly are considered married after three years of
cohabitation under “common-law” rules in some
states.

Read this article at the Realestatejournal before you
take the plunge into co-ownership.

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