The Gen Z Secret to Home Buying in 2024?

Gen Z has turned to a new method of homeownership that is pretty unorthodox: buying a house with your friend. Not a spouse in a binding marriage, but just your friend. We've got to dive in.
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[@JonesyTheFirst69]

Buying property with friends is typically a horrible idea. Some really good friends are gonna make it but it's definitely not the majority

[@DavidZ4-gg3dm]

Yes, most friends aren't suited to house-sharing.

[@Rot24.mu00q]

@@DavidZ4-gg3dm Maybe you all have wrong friends...

[@user-er5ez2qx6r]

I mean it’s the same with your bf/gf. You never know how it’s gonna go but you do it anyways

[@girlsdrinkfeck]

@@Rot24.mu00q yes . seems americans dont know the difference between friends and mates , mates are people u know and hang with , friends are as loyal as trusted family members . in europe , lot of mortgage lenders now do generational mortgages instead , so instead of lets say a 20 year mortgage for 1 person or couple , its a 50 year mortgage for father and son , i myself went with a part buy part rent deal in 2014 , bought a 50% share of a property and pay the remaining rent at a massive discount

[@Killswitch1411]

@@Rot24.mu00q It doesn't matter if you have the right or wrong. It will likely go wrong.

[@jaxonjaxoff3291]

Apartment. I ain’t getting married anytime soon, and I ain’t gonna share anything with my friends because I don’t want to fight.

[@arsondarksea]

God bless you in the name of Jesus Christ, who is the name above all names & the only way to Heaven❤

[@paddington1670]

@@arsondarksea alright just calm yourself

[@DavidZ4-gg3dm]

Marriage is also a foolish choice - divorce is very common, stressful & expensive.

[@DavidZ4-gg3dm]

@@arsondarksea How is that relevant to this topic?

[@TheStax5150]

U need better friends

[@polycarphunter2257]

best way to lose a friend, is to live with them. good luck with that.

[@lilblackfish2009]

That’s why I would rather buy a duplex that way each person could have their own department lol

[@praetorian3902]

Gen Z have friends ?

[@nogames8982]

Yep. I had somebody tell me that once and I did not believe them. Yeah well, they were 100% correct.

[@rrrealqueen]

​@@praetorian3902 lol some of us do. But just for gaming. 😂 nothing more or less.

[@andrewvanoort8539]

​@@praetorian3902😂

[@Sarah_1102]

i dont care how broke i am or if i dont make enough money. I just aint buying a house with any of my friends because thats where the problem will start

[@DavidZ4-gg3dm]

Yes, it'll likely ruin the friendship. I like my friends, but I wouldn't want to share a house with any of them long term.

[@marvinmallette6795]

I've seen it start with girlfriends. What woman wants to be a wife with a half a house?

[@snuffeldjuret]

@@marvinmallette6795 better than no house seriously, brett audience seems like completely rtded

[@marvinmallette6795]

@@snuffeldjuret "Better than no house"? I am baffled as to your perspective on the situation, is the American Dream dead en mass? Is home ownership to the point where people have given up and are grateful for merely half a house? A 30 year mortgage is a contract one does not typically enter into until ones 20s. This means that the 30 years will extend into mid-life, and past a woman's reproductive cycle (biological clock). Men are accused of cradle robbing if they wait out a 30 year mortgage. Say you start with two individuals, and a two bedroom, one bath, house. Bring two significant others into the mix, marry them, and let them have offspring, and you get six individuals in a two bedroom one bath house. Given the risk of waiting out the 30 year mortgage is severe regarding the potential for childbirth, there is pressure for 8 people to share one two bedroom, one bath, house. However, if you are a mother, and you can arrange to have the other household evicted and gain control over the entire house. One bedroom for the parent, and one bedroom for the children, what would prevent such an attempt? Shall we assume the attempt would always fail, and backfire?

[@Sarah_1102]

@@snuffeldjuret its not just about having a house its the future repercussions that may follow in future. It seems nice and all to have a roof over your head but you can never register for how long that time may be. One or more of the friends may decide that they want to sell the house or rent it out which may cause a series of complications which can then lead to a legal battle. If you lose that legal battle you will still have no house at the end of the day which brings you back to square 1. I agree it is better than having no house but in general it is better to just buy one yourself or with your partner. It may seem favourable at the time but you must not only acknowledge the present but the soon to come future. The odds and negatives outweigh the good and positive side of this, that is my opinion.

[@camikazi2737]

I helped a friend out by letting her stay at my home with myself and my husband. I'm glad I could help her get back on her feet, but it ruined our friendship. Wouldn't recommend unless necessary, sorry. 🤷

[@CaptainCJ97]

Ah damn

[@andrewsmith74]

For how long did she stay with you?

[@camikazi2737]

@@andrewsmith74 for a little over a year. She didn't pay on time either, and eventually she stopped paying all together which is why we told her she would have to find another place. She was only supposed to pay $320 a month to cover her utility usage anyway which seemed pretty reasonable if not generous.

[@hiddenhand6973]

@@camikazi2737 very generous

[@Galactus23]

@@camikazi2737 I would of payed the 320 a month happily!

[@AuramiteEX]

Don't mix friends and finances/business/investments

[@scott8934]

Went amazingly for me.

[@DavidZ4-gg3dm]

@@scott8934 Long term?

[@manoftomorrow5987]

Exactly. This is shaping up to be a badddd idea. What happens if one decides that they’ll get married who gets the house and could the one staying afford the mortgage? Smfh…this sounds like a disaster waiting to happen

[@jaxonjaxoff3291]

Yup.

[@scott8934]

@@DavidZ4-gg3dmyep. Bought the first place at 21, 7 years ago. Before the massive inflation hit and was able to, because of that initial purchase, roll it into a much nicer place now on a still low interest rate. Made a LOT in equity overpaying slightly as well. If I didn’t take that risk early I would be 150k ish behind where I am today because of market circumstances. I do review expenses against our shared account when I pay bills though. Still have to be careful.

[@scott8934]

I’m roommates with my brother on a house we bought. It’s great tbh. Split bills and save for the future, we don’t live alone in an already individualistic place. No problem at all as long as you establish terms for splitting costs very thoroughly up front.

[@samuelcohen2362]

For some reason, doing this with a sibling seems more reasonable and realistic. Probably because you already lived with them in a house in theory 🤷‍♂️

[@scott8934]

@@samuelcohen2362True. I’ve had a couple friends split with us and they were a bigger issue than my brothers. Mostly due to a difference in problem solving method. If you’re in an old house that needs more upkeep, problems and expenses arise and it’s helpful to have the same problem solving mindset. I would rent to a couple of my friends again today but way fewer than in the past due to that and standard of cleanliness.

[@davidfebreeze428]

Two brothers owning a home is vastly different then a couple of frustrated women in their 30‘s😂

[@scott8934]

@@davidfebreeze428ehhh the principles are the same. They would just have to know eachother very well I suppose to determine whether or not they could make it work.

[@rebekahmontesdeoca565]

And as long as you do it with someone unquestionably trustworthy. Not everyone is very good at judging who is trustworthy.

[@rebrock67]

My son bought his first house at the age of 22 ten years ago. Market was much better back then. Anyway, it was a three bedroom home that he rented out two bedrooms to multiple people friends over the five years he lived there. The renters basically paid for the house and he paid for the utilities and all upgrades to the house because it was in his name. When he got engaged, he gave his renters time to find somewhere else to live. It worked out great for him, back then. I don't know that he could afford to do that now.

[@Fc9ers]

man he bought that home relatively cheap. like 200-300k cheaper i bet. it never crossed my mind back then but i and many missed out

[@user27278]

House hacking works, buying a house with friends doesnt

[@DavidZ4-gg3dm]

How did he afford to buy a 3-bedroom house at 22?

[@user27278]

@@DavidZ4-gg3dm houses were dirt cheap in 2009-2019 my neighbors house was bought for 30k back then and mine costed 200k in 2020. Here in CA

[@Fc9ers]

@@user27278 especially around 2012

[@samantharawson4216]

Horrible idea. My husband's siblings bought a place together and now one wants to sell and the other doesn't and neither can afford the mortgage on their own. Never ever buy a home with someone unless you are married to them.

[@messagegoeshere741]

Maybe rent the room out for the guy that wants to sell? It will pay his half of the morgage and he wont be tied to the house as tight.

[@samantharawson4216]

@messagegoeshere741 she doesn't want to live with a stranger. The sister went into this excited to live with someone she knows and now that the brother wants to get married to his baby mama he doesn't want to share a space with his sister. We warned them it wouldn't work and literally after 6 months is when the issue started when he got a girl pregnant. But they both claimed that their lives weren't going to change

[@eleyanar.8086]

My husband did this with two friends of his after we bought our family home. They formed an LLC and wrote out thorough and detailed contracts in case it ever needed to be dissolved. My husband always wanted to invest in property and this was a great way to get started.

[@Lemonpepperwett]

I know so many men that have bought houses with their friends guys have been doing this for a while and siblings have also been doing this too

[@jayc342009]

Using property as investment is one of the reasons we have a housing crisis in the UK

[@billbuffington3037]

Works well if you have a lot of cash going into the deal. If you're financially set prior to buying the home, it could work. If not, its next to impossible to get a lender to finance a property to an LLC or S-corp. And even if all parties are financially established, the lender is still going to require personal guarantees from all parties of the LLC. Why would any one investor in the deal be willing to personally guarantee the entire amount of the loan, plus the accruing interest and penalties in the event of default?

[@dovakeen1179]

U wanna lose a friend, turn them into a room mate or business partner.

[@lilblackfish2009]

no different than a marriage you guys gotta have respect for each other either way or else I’ll fall apart

[@marvinmallette6795]

@@lilblackfish2009 Have a pre-nup in place before buying the house, to decide whose spouse gets it in the will.

[@lilblackfish2009]

@@marvinmallette6795 i dont belive in prenups in marriage and they also could get thrown out in court

[@Abaddon231]

Big facts

[@thealisterr]

@@marvinmallette6795just don’t have the state or government get involved in your marriage. You guys can still live together but don’t get contractually obligated

[@joelplatt2651]

Nothing like entering in to a legal partnership with the person that you go drinking with on the weekends

[@NJGuy1973]

Then don't do it with your drinking friends, do it with your friends who live dull lives. Pretty soon the best kinds of friends will be the ones who aren't Good Time Charlies.

[@catherinemedina7387]

I know a girl who did this with her friend and she now regrets it. She wants to sell and get out of the mortgage, but her friend is refusing to sell.

[@marvinmallette6795]

I'm very curious as to the details. Presumably, this is a financial decision, and I am wondering as to why one part of the agreement would be financially disadvantaged as to prefer to get out of the mortgage, while the other would, living within the same economy, still consider it to be a more prudent financial decision?? I suspect that it is some clashing between personality types, such as with regards to chores or some such. Somebody has to be the clean freak, and the other the messy one. Everything is relative, as they say. I would think the proper advice in such a case would be to tell them both to "grow up", and work it out. Are you sure your friend is making sound and responsible decisions? I would by default side with her friend that is refusing to sell. This is what they both signed up for.

[@ProtoNecron]

This idea………..will not end well.

[@morninmichigan1824]

This... has been a thing for years. This is nowhere near anything new.

[@ICallItAsItIs]

@@morninmichigan1824 LIES!!!

[@paddington1670]

not common, at all.

[@morninmichigan1824]

@@ICallItAsItIs My dad moved in with two of his friends after he graduated. This isn't new, anyone who says this is a gen z thing is ignorant.

[@juliemesser2053]

​@@morninmichigan1824That's only for a little bit. My brother did the same thing.

[@angiepatterson6338]

It’s a lot easier to find a good house than a good spouse.

[@zaynamoore]

People are not always aware of the additional costs and responsibilities of home ownership vs renting. There's insurance, taxes, utilities, landscaping and emergencies that you have to budget for. Even as purely an investment with the intent to rent the property out, you become a landlord with all its inherit responsibilities and expenses.

[@Lemonpepperwett]

Landscaping is you tripping landscaping is not in the budget.

[@cdot2four]

Mortgage payments end, renting payments do not

[@Lemonpepperwett]

@@cdot2four not true. I know like 13 people that didn't pay rent for like 3 years

[@amandacarrasco9393]

Inherent*

[@NJGuy1973]

​@@cdot2fourDoes property tax end? Does the house require no more roof replacement, no more lawn care, no more anything?

[@grimover-288]

The issue i have with people buying property to rent out or investing in real estate is that a majority of people cannot afford to pay the ridiculous amount of rent or will never be able to save money for a home due to rent so then now you have a home thats empty or rotting and prevented some family from buying a home and moving in. What im saying is your a part of the problem and not the solution.

[@user-ff8rs7gk6r]

This should be the pinned comment on the video. It's the stupidest thing I've read on the internet all day.

[@rebekahmontesdeoca565]

I think this could work well for a small number of people who have a friend who is absolutely trustworthy and reasonable. But most people are bad at judging who is trustworthy.

[@rrrealqueen]

Or friends💀 i only have gaming friends none i would actually sign a paper with.

[@billbuffington3037]

You can have the best friend in the world, that you 100% trust, but if bills and obligations come due, and one party can't cover their portion, it gets real ugly real quick. Just imagine if one owner gets in a car accident, gets sued, and the injured party gets a judgment against one of the owners. The ownership of the property is at risk.

[@rebekahmontesdeoca565]

@@billbuffington3037 that's a good point

[@JjJjJ200]

There is a reason bf/gf don't buy houses together. It is a financial commitment. For most people roommates are a disaster. There is always the one that doesn't clean up after themselves as egregiously or doesnt take care of their bills.

[@jth_printed_designs]

I was going to buy a house with a gf. Each person puts up half the money and each person owns half the equity. If the relationship dissolves you either sell it and split the proceeds, or one person buys the other out. I am never getting married, so if I was going to buy a house with a woman it would be bf/gf buying it. I've got my own paid off house now though, so no need to worry about that.

[@andrewsmith74]

That's couples, which is far more common & very different to friends. Millions of unmarried couples buy houses together.

[@andrewsmith74]

@@jth_printed_designs Good luck trying to find a GF who'll pay half.

[@jth_printed_designs]

@@andrewsmith74 Really no luck needed, if they dont pull their weight in the relationship then it's strictly a fuck em and chuck em scenario

[@johnfriedgen357]

I think the bigger issue is that it’s reflective of how shit dating has gotten that no one can find someone romantically speaking they want to invest 30+ years into to buy a house with

[@spiritanimal7516]

Feminism told women that sleeping with multiple guys is going against the patriarchy, now it's having severe consequences

[@darklordsauron3415]

That sounds awful. No way I wanna live with anyone for a year let alone 30.

[@johnnk3256]

Financing a house with a friend is collosally bad idea. One change of heart, and you'll end up having to sell your dream house. 😡

[@user-ty7eb4lw7z]

I am a conservative and my cousins are democrats. They always ask me. "Are you really ok with voting for the person who has been arrested and charged with dozens of felonies. And is currently out on bail for hundreds of thousands of dollars. Because he tried to illegally overturn the election and disenfranchise our votes?" I tell them "Yes, the former president trying to overturn the election that he lost. And trying to illegally disenfranchise your votes is not a big deal to me. At all." They are always shocked. 😀

[@nogoodusernames100]

If you want to get a place with a friend, just rent an apartment. If you want to save up to buy a house, you should live with your parents as long as they let you and either by a house on your own or ideally with your future spouse.

[@emily_257]

Dave Ramsey is going to loose his marbles when he hears this.

[@user-ff8rs7gk6r]

Thats fine, I don't take advice from people who pull weapons in staff meetings anyways.

[@bettygrable6440]

Loose them or lose them?

[@courtneytautges4997]

I have a couple of different friends who were single in their early 30’s, and they bought their own houses and then invited a trusted friend to rent from them until they got married. This worked super well for them and they were able to avoid the sticky co-owner bit! Clear boundaries of ownership are always a good idea!

[@TheNotimprezed]

People keep listing "what of they are messy, dont clean, are gross, etc" as why this wont work or hasn't worked for them. Thats nothing. The microwave breaks and one person doesnt want to go halves because they like the toaster over anyway. The living room needs a new tv and 1 person wants a $500 tv and the other wants a $2500 one. The AC unit dies and is $7k to replace, but one person doesnt have $3500 laying around and doesnt mind the heat. And if/when they replace the AC unit they inspect the furnace and recommend replacing it while doing the AC unit since its nearing the end of its life - it will save $2k vs doing it separately when it fails, but it will double the cost today. The roof leaks and cost $600 to repair but one person doesnt have an extra $300 to split the cost. The roofer recommends a new roof because its 25 years old - $20k estimate. One person wants a fenced in yard, buts thats $20k and not a priority. A retaining wall collapses and is also $20k to repair. (All of these things but the roof my house has needed in the 5 years I've lived here, my previous house needed a roof). And finally - one person wants to move and now wants 50% of the market value, which means selling the house whether you want to or not and then fighting over the $ because one person spend $30k upgrading the hvac system and having that fence installed and wants their cut to be $30k bigger and the other person didnt value those upgrades and wants a 50/50 split.

[@misterkittyandfriends1441]

This comment gave me PTSD. 😂

[@eberechukwualadi4838]

This will end bad, unlike a friendship, your spouse's life and yours correlate together. You want to move, you move together, want to start a family, you start together. Your life paths are parallel. With a friend, one might decide to get married, moved in with their partner, or have kids, what do you do then.

[@theblackishboy1105]

Get a roommate

[@kyivgaming4036]

Living with friends all comes down to personal preference. But, if you have a good relationship with your parents, the best option is to stay there as long as you can. Pay rent (something reasonable, a.k.a. not an outrageous $1,500-$2,000 a month like most apartments these days), take care of their house, learn to fix things yourself where you can, clean the place for them, show respect, make dinners, whatever is agreed upon. In this economy, living with parents is the financially smart decision and a blessing. Not to mention, other countries have generational houses. For some reason in the US, this became a crazy idea.

[@BluBurryRae]

I'm still living at home with an abusive relative because rent is unaffordable right now. I contemplated getting somewhere with a friend, as she was losing her apartment from inflated prices. We hunted and we couldn't find anywhere even AVERAGE for our mixed income, let alone nice. That's not me being privileged, I grew up in a water damaged, tilted, caving and cracking home and I still live here. She's still house hopping. I don't know how anybody is surviving because jobs don't pay that much. I'd love to know whenever secret others seem to know.

[@Based_4_Life]

Move to a completely different city with better apartment prices, a fine environment, and a suitable job. Forget family and friends - just find a good city with a good job. I moved from an unaffordable city to Corpus Christi TX, where everything was so much cheaper. Everything was great for me until I made the mistake of quitting my job there without finding another one first.

[@NJGuy1973]

So are you gonna stay there forever or until your relative beats you senseless?

[@kacyandlaura]

I am younger than most of the people I rub shoulders with. I wondered the same thing and then I realized that everyone’s secret is that they bought years ago, like 10 years ago. Whereas we bought more recently and therefore can’t afford the nice homes that I see.

[@MattW-vh1ew]

Houses with “friends” is a lot like starting a business with friends it’s a train wreck in waiting. Very few ventures work out to the benefit of all involved.

[@Ange1ofD4rkness]

I have to this day always questioned why people would by a house when dating, asking myself "what happens if you break up, who gets the house?"

[@dearthofdoohickeys4703]

Unfortunately that choice even happens with kids. It’s become a terribly common reality .

[@laurenpool8367]

As a Gen X, I'm all for this! The WEF and companies like Black Rock that want to make home ownership impossible probably didn't account for this type of push back from Gen Z. New motto: We will own it together, and we will be happy. Kudos, Gen Z 👏👏👏

[@eldirector1936]

We will defeat them once we realize who the true enemy is. The tiny hats who go to synagogues. They own black rock and the federal reserve and all of the other systems that are oppressing the people.

[@kelsiewilson]

Black Rock is just an extension of the wealthy democrat party

[@ilgiallo0]

Gl with that , imaging when you find your gf and wanting to make Family trying to sell your part to others 😂. That's how a frienship end ... Even when all your friend keep watching your gf/bg

[@holliec955]

I bought a duplex 10 years ago with another lady. We both live on either side and it’s working for us. Will have it paid off when I’m 54 and that feels good.

[@nemesis91101]

This was something i noticed ages ago. Its great until friend gets married and kicks you out of said home. Happened to my friend.

[@ahapka]

Wasn't his name on the deed?

[@nemesis91101]

@ahapka I can't recall but that would make sense. Long story short he moved back in with parents, worked awhile and got himself a house by himself. Now he wants hit to Japan for a wife who don't want kids lol can't blame him. I told em they most likely will want one. Those _leftovers_ tend to want a family and I'm all for it but he is not.

[@logandavies5950]

My friends don’t make enough money I’ll be buying the house myself

[@countskippy]

I can understand renting w/ friends, as that's ultra-common in college and not exactly the worst idea...but...not actually owning property together.

[@Girraficusthewise]

I understand why, rent is out of control, and the only way they can afford a house is with friends cosigning, but..... What if 2 friends have a falling out? What if one has a bf/gf you dont get along with? What if you want to get married and buy a house with your spouse? All things that are going to be extremely difficult to navigate when your name is on a 30yr mortgage

[@kevinm.8682]

One rule of investing is to buy with intention. Y'all won't be there on 30 years, maybe 5 is stretching it. Get your agreements in writing by all parties.

[@sh0t0kan]

Going into owning a home with a friend is nightmare fuel.

[@ohokay7628]

Totally unrelated, but how are you not talking about the bear vs man debate happening rn 😂

[@RandomNY1234]

I can see Contract Lawyers going CHAAA CHING!! Keep going GenZ.. We need new mansions.

[@jkbrown5496]

I do remember that back in the early 2000s there was a house in Amsterdam that had finally sold for a price higher than it had during the Tulip Mania back in the 1600s. Adjust for inflation and such. So, if you can hold a property for 400 years or more, you're likely assured to come out ahead.

[@spinstercatlady]

Darn mortality always getting in the way of good equity! 😂

[@TrailBlazer_Wanders]

Me and my friends have already been talking about this for a few years now. I am aware of the problems that come with living with your buddies but I have a good friend group that’s pretty reliable.

[@DavidZ4-gg3dm]

Have you shared a house with them before? What if one of you wants to move their significant other in?

[@nrsimmons178]

Even if it's family, get your own lawyer and sign a contract that you all agree to, or don't do it.

[@tkraid2575]

From my experiences, once you live with a friend, it all goes downhill from theirs, because you realize people's living habits aren't in the same way as yours.

[@HisLilyPrincess]

I was unconventional and bought an old camper and renovated it. Lived in it for $250 a month while saving and paying off debt. The goal was to buy a house in 5 years. Did it in 3. Get yourself some motivation.

[@Floridablaze97]

Condo is affordable. Luxury RV too. Those are realistic options for me with today's economy, even with a good paying job. My mom was able to build a house in 2001 for around the same price that a Condo goes for today.

[@maui.tech.0415]

AT LEAST WE CAN OWN SOMETHING WITH SOMEONE.

[@rjdestiny-mx4ir]

Everybody that is saying they would never do this. It sounds like all of your "friends" are really just acquaintances. Or more simply friends of circumstance. When i think of a friend i thinkof someone that is ride or die. Not what youre all decribing. We all need real friends

[@LVMT124]

I rented a house for a few years and moved into my new husband’s house right after we got married. No issues whatsoever! 😊

[@DavidZ4-gg3dm]

Did you live with friends?

[@BlueDauntless]

So you purchased a house with a non-spouse and had no issues? Because that’s what the video is about.

[@gloriathomas3245]

um, I graduated HS in 1998 and many of my friends were doing this back then. Its nothing new

[@gulfbreezediver]

Thats what I was going to say. This is common.

[@DavidZ4-gg3dm]

Many of them? How did it work out for them?

[@beeniecat9411]

Folks gotta get their start somewhere.

[@paddington1670]

not common

[@RicoRaynn]

I did the same in 1999 a week after graduating HS. It was the only way to move out in a semblance of being on your own. I made $685 a week. The average rent in my hometown was $1400 a month and no apartments were available. It's why I roll my eyes when kids talk about not being able to afford a home immediately out of high school. Been that way for ages. Yet somehow we all progressed. All about working to try and make it easier for people, but acting as if no one has EVER dealt with this before is stupid and invalidates anything you say because you obviously haven't looked/researched past your own selfish thoughts.

[@ZachClarkFilms]

Just by the title alone I will say, my friends and I are legit planning on doing this

[@Pikawarps]

Don’t do it. If any one of you get in a car accident you ALL lose the house when the injured driver sues them

[@consciousness3466]

Hope you trust your friends for the next 30 years

[@DavidZ4-gg3dm]

Outright or on a mortgage? Have you shared a house with those friends before? Are you sure you'd love to live with them long term? What happens if one of you wants to move your GF into the house & the others dislike her? What if one of you wants to sell up & move out but the others don't? What if one of you dies?

[@paddington1670]

@@Pikawarps our insurance comes with millions of dollars of insurance

[@ICallItAsItIs]

@@paddington1670 LIES!!!

[@gleeman959]

Millennial here and I bought a house and had my two best friends live with me. 3 bed/2 bath was plenty of room for us. I took the total of mortgage and utilities, and divided between the three of us. They got rent that was significantly lower than any apartment, and I reduced my bills while I increased my wages enough to live on my own. That's the thing, though. I always knew and was prepared that the roommates would eventually leave and I would shoulder the cost of the house myself. I got the house early 2021 before the interest rates blew up, and my roommates lived with me until last year. They both got married and live with their wives now (one was able to get a house and the other now lives in an apartment with another roommate). We made it work. There has to be a social contract. I was the sole owner of the house, but I understood that I couldn't just kick them out whenever I wanted. We respected each other's spaces and addressed whatever pet peeves might crop up to release tension. It's no a permanent solution, but it can help pull you and your friends out of the rut that is today's housing market.

[@KristinaLJohnson]

As a millennial who is still friends with maybe five people from my 20s and earlier-and an attorney who paid attention in property class-buying houses with your friends is right next to “renting to your family” and co-living with an ex after a messy divorce. Do. Not. Do. It. Unless you have someone basically write a friendship prenup cause dear lord just no.

[@dearthofdoohickeys4703]

It’s doable, but it’s not like it’s so much easier than buying a house with a wife/husband. I’d argue it’s harder in some ways. What’s important is you work well together under pressure. You can’t just go off by how much fun you have together.

[@breannagamez27]

This is like the only way to buy a house anymore

[@bigbay1159]

Nope, i bought home by myself which is a challenge but the idea of splitting a home with someone....yeah no...this is like the co-signing on something. Which nope....

[@Leos131]

Waiting for a partner is the preferred avenue to buy a house. The truth is, though, and my life philosophy has been, "If I'm constantly waiting for a partner to do X, then I'll never do anything." This mantra has led me to hiking, going to the movies, eating out Whenever I want. I'm now closing on a house by myself.

[@user-di4ud4xn5h]

Congrats. I’m going to remember your philosophy. It’s helpful

[@StoopidityCinemas007]

Hi Brett, love your videos, keep up the good work! You’re making a difference in a world where everyone is so confused ❤

[@laurengodbey2727]

I bought a house with my brother. We got really lucky and got it when I was 21 and he was 19. Best thing for us but we are like best friends

[@Amdog123]

In high school I had made a plan to move out with my friends after graduation. 2 years later I don’t even know who those people are anymore and what became of them.

[@ImReadyAyu]

Wait till they find out each other's living habits and then countless arguments on who isn't cleaning around the house

[@Yesica1993]

I will never again have roommates even renting an apartment/house together! It didn't matter who it was or what the arrangements were, I was the one who ALWAYS ended up doing the majority of the cleaning! Having a schedule would work may be a week or two, and then it was back to me doing the bulk of it. The final straw was when I was sick and went to heat up some tea or something in the microwave. (MY microwave, by the way, that we were all using.) I opened it and there was spaghetti and sauce all over it. I don't mean a little had splattered, to where you may not have noticed it if you were in a hurry. I mean sauce and even pieces of spaghetti were all over the inside. It was disgusting! There was no way you could miss that. How can you leave an appliance that way?! I am the type of person who hates conflict. I usually stay quiet to avoid problems. But this time, I did speak up. This was decades ago, so I don't recall my exact words. I'm not someone who swears or anything like that. But I did speak up in a strong way. I was then accused of being the person in the wrong. That settled something in my mind. NEVER AGAIN. The roommate who did it actually apologized to me later. So there is that. Moral of the story is that most people are pigs.

[@ImReadyAyu]

@@Yesica1993 Totally agree with you and sorry you went through all that. They step over your boundaries even when they're set in the beginning of situations like yours. I've seen people at work who need help getting a new place to stay/rent and then when they move in it's all, "Hey, I'm gonna be late on rent. I'll get it to you soon." Then you find out they went out on an expensive date out of town the night before 😑 Fr, some people have no shame

[@Yesica1993]

@@ImReadyAyu Thanks. It seems to be a common problem. At least in my situation the person did sincerely apologize. That's rare.

[@dearthofdoohickeys4703]

I had roommates for a few years. We worked extremely well together; cleaning, cooking, taking turns between chores. But we weren’t exactly friends. I don’t think we so much as watched a movie together. But we got along, and most importantly we knew we could rely on each other. “Home” meant a clean place to rest and refresh, and we were all on the same page about that. I was very sad when I eventually had to move. Now I live with family, and it’s SO much harder

[@markmunroe-hz8rf]

I would suggest renting an apartment or staying with your parents, sacrifice, save as much as you can and invest small.

[@DavidZ4-gg3dm]

This is a bad idea that can go wrong in many ways. What if one of you has a kid or wants to move their BF/GF in? What if one wants to sell their half & move out? How do you sell half-share, third-share or quarter-share of a house with someone living there? What if one of you dies?

[@Yesica1993]

Right? So many problems!

[@scott8934]

My terms with my brother who I live with is when that happens sell. No arguments. No buying out. The only way to determine value unequivocally is to list and sell, so no buyouts. Sell whenever one wants to leave regardless of market conditions.

[@Yesica1993]

@@scott8934 A sibling would be a bit different situation, since there's already a bond there. Friends can leave and disappear and that's it. But no matter how bad things get, you will always be brothers.

[@jth_printed_designs]

@@scott8934 You could list it to sell, take the highest offer, and then half of that is the buyout price. The person making the offer wouldn't be any the wiser when their offer is declined, and the person that wants to keep the home gets to.

[@scott8934]

@@jth_printed_designsnot a terrible idea! I’ve never listed myself but I think I’d have to in order to avoid losing my ass on realtor fees

[@bookofeli4640]

😂😂😂😂 I can't wait for all the "is gonna be different with us, i promise"

[@vulcan3625]

Dude, I won't even crash at my friends' houses when I go out of town for a week or two to visit them, even though we've been friends for almost 2 decades and they always offer and have no issue with me staying with them. I always make sure I have a hotel to stay at just so I can avoid putting any type of unnecessary strain on our friendship that comes with living together. There's no way in hell I'd split a mortgage with them.

[@user-di4ud4xn5h]

Staying with someone for a week or two is not at all like moving in with them. If I couldn’t take staying at the same place with my friend for a week, I wouldn’t consider us great friends. That means you couldn’t even go on a vacation with them. No beach house or mountain trip together

[@user-oj4jx6rx4b]

I bought my first house as a two unit when I was 23. I lived downstairs and rented out the upstairs unit. It was the only way I could afford to live on my own at the time. I still have that unit and my husband and I now have 9 rental units total along with our personal home. It is a great way for young people to be able to start out... though it is a lot of work and can really be a headache if you get the wrong tenants (and depending on the state you purchase in).

[@mdlazova]

And why not just buying alone? Plenty of first time homebuyer options with low down payment. I did that and just rented out a room to a friend to help with the cost in the first years. Win-win

[@M-X39462]

I'm never buying a house with anyone ever again. I bought a house with a girlfriend of a few years at the time and then she revealed her true colors and made my life a hell right after. Tried to force me to give her the house for free and even tried to make false allegations to get it. My lawyer and he police made sure I got justice and my fair share but it was a nightmare until then.

[@RedRose-jg1ej]

I think there's something most people overlook-it's not just the cost of the house. It's also the cost of the upkeep. And if it's an older house there may be systems that break and walls and floorings that need to be redone. And then there's the yard-constantly. That's a lot of shared responsibility that may need a contract to keep straight or make clear everyone's individual responsibility beforehand.

[@AgainstTheCensoring]

When friends become roommates, the relationship changes.

[@gobigorgohome3745]

Houses are ridiculously expensive right now. Not a great buyers market

[@warcraftaddict117]

Yep. Houses have property taxes that one of yall has to get stuck with for one of the financial slots of responsibility. Or mortgages--I don't know how that would work. It not like a renter at an apartment that one can a little easier go in with friends to do and then in a year or 6 months lease decide whether or not this friendship can survive living together long term. Its pretty insane the cost of rent in Dallas TX and other particular cities. Its like how after rent do the complexes expect a single person to afford basic needs like food? I mean its insane pricing in the apartment market in Dallas. Insane.

[@onebeatsongs9326]

Lmao this could only work with dudes and it still wouldn't work long term😂😂.

[@aratictvAlt]

I think it shows both, how bad the housing market is, and how bad the dating scene is. You can’t buy a house on your own because it cost to much. You can’t find a partner you love to buy a house with because the dating scene is bad.

[@marvinmallette6795]

The dating scene does not necessarily have to be bad. One must be able to cover three months rent should they lose a roommate, to provide time to find a second one. Thus one must be able to afford a house on one's own before buying one. One has to generally trust the community to provide roommates/tenants that you can trust. Perhaps if all you had were the clothes on your back, you wouldn't have to worry about theft. However, the standard of a big screen TV and a video game system raises the stakes a bit. Those things must become disposable and replaceable. With modern Digital Licensing and Distribution, the ease of replacing those goods increases as time goes on. We are on the path that having an XBox stolen could mean that your cell phone and car cease to function, since you've lost access to your account to manage "connected goods". Good luck getting to work on time if your XBox gets stolen. If your XBox gets stolen and it leads to you losing your job, then you might be unable to pay your cell phone bill to maintain 2-factor authentication. Losing your cell phone number could then permanently lock you out of a number of accounts, your car included, if you did not buy it locally (out of town, or moved since purchasing it). If the thief was able to get access to an account which provided sensitive information to authenticated individuals, this could lead to identity theft. Hopefully you can contain the situation before you lose proof of residence long enough to lose the ability to acquire state issued identification required to get a job. Generally, the reason you have a roommate, is because being a "boomerang generation" is out of the question. Anyway, I suspect that all of this weight on one's confidence might negatively affect one participating in the dating pool, and thus the housing situation is what causes a bad dating scene. Just my thoughts.

[@aratictvAlt]

@@marvinmallette6795 I agree financial stress does play apart of your dating scene, but getting a Xbox stolen by any means make you lose your phone and have your phone and car stop working

[@marvinmallette6795]

@@aratictvAlt I'm just saying, Windows 11 Microsoft Accounts (MSA), are a national security issue. Up there with putting DRM on John Deere tractors. Tesla's are a step in the direction towards having a Microsoft Account (MSA) cause your car to stop working. And as far as my phone goes, in order to save money and keep to a tighter budget, my circle has moved to doing business with a phone company that does not have a local presence. I have to manage it via a computer, via a Microsoft Account (MSA). XBox consoles use Microsoft Accounts (MSA), and are generally expected to be the same exact one used to login to Windows 11 to pay the cell phone bill.

[@Meditations2024]

Always go with the 15 year mortgage. If more investors means you pay a house off faster, that means you make more money on the deal too. It's not a terrible strategy. Starting an LCC with other people and doing this can absolutely help everyone involved build wealth. You all just have to be crystal clear about the goals of that LLC.

[@qtipanonymous]

My husband and I are the definition of the word "scrappy." We spent the first four months of marriage in a camper and are now in our starter home just in time for our first child. We will be debt free before I turn 21. Be scrappy.

[@thetiredone4538]

I had a thought like this a year or 2 ago. Just buy a mansion with my cousins and friends and commute on the train station.

[@pharmcat8484]

For security reasons? Someone has a stalker.

[@jenro643]

I mean I could see some instances where this would work. Buying the house, but renovating it into a duplex or two small apartments so each has their own separate space. That way you are neighbors and not roommates. My friend and I have been best friends for 13 years, for us, I think it would work. For younger friendships, maybe not.

[@Saddles_N_Sauvignon]

As someone who’s owned high dollar horses with “friends” as an investment…. I highly recommend never doing it. What usually happens is you go in evenly, but things start to pop up (expenses) and there is argument on who pays what… then the financial burden tends to eventually fall all on one party. Or one person does the main investment upfront and the friend says they will “pay them back” ect… then either falls behind or stops completely… Then you have one person who wants to sell and the other doesn’t and the one who doesn’t want to sell usually doesn’t have the upfront funds to buy out the other half. Honestly, doing anything like this with friends 99% of the time goes wrong.

[@pauln6917]

This was happening from 2013 in Colorado. Young DINKS were forming Real Estate Holding LLCs and buying homes or condos with couples taking over rooms and sharing common spaces due to the high costs of buying homes there. marijauna growers and dispensaries were buying out everything for cash to park there money somewhere at the time.

[@AgnesMariaL]

The key to buying property under joint ownership is to form a corporation, and then buy the property through the corporation. That is what we did! All protections for the individuals are in place if the corporate contract is written correctly.

[@HanGhost99]

I would love to see Bretts opinion on people, especially Gen z buying vans & campers to live in full time

[@Katiemtz099]

I’d buy a house & ask my friend if they wanted to be roommate 😐… I wouldn’t buy a house with them

[@coreyhendricks9490]

Hi there Brett, thanks for sharing as always, you take care and have a nice day 🥰❤️😊

[@towel-ie7554]

Buy the house and RENT to friends. Then you keep the equity, and they help you get there. First to qualify for the loan wins.

[@pinkroses135]

You can buy a fixer upper solo then share it with a spouse later. Reno hassles may be less stress than sharing a new put together place with some people. What's gonna happen in the next chapter when the roommates want to move on? They're rarely going to live as a forever family.

[@cccc7006]

Brett is the goat of segues to sponsors

[@carlawisch]

I'm a boomer. It wasn't all that different when I was in my twenties. My friends who owned property at that time were women who were married or had inherited a house from a deceased relative. Even though I was college educated and had a stable job, I was well into my 30's before I could qualify for a loan on my own. I had not been against marriage; no one seemed interested in me as a spouse until I was well into my thirties and this was after I was able to buy a condo.

[@ed_Skynight]

My problem with this is the fact that these guys are quick to buy homes with friends instead of nipping this problem at the bud and demanding these damn politicians to stop screwing around with us. I get that the economy is in a weird state but there has to be ways around that! And it should be addressed because frankly having to be almost 23 feels more stressful to me knowing that I still haven’t met any big goal I want to get to in life.

[@MrStevo411]

Honestly I was thinking about this the other day….but in a different way. I was thinking about how people should just go back to marriages like before. Marriage for convenience as opposed to love. Two people get married, after making sure they’re compatible for such, and share in the benefits of tax breaks from marriage, a dual income, etc etc. They don’t have to gave sex, sleep together, etc., but still live together legally bound under marriage. If one of them finds someone they want to marry, they can get a divorce and move on. No emotions, no harm no foul, everyone is happy

[@shaffanshahwer]

That was smooth Ad Transition.

[@mattolivier1835]

Thanks nerd. We love your videos.

[@mthayne1000]

What quick and expensive way to ruin friendships! 🤦🏻‍♀️

[@lisay3631]

I bought myself a house at 30yrs old and it was the best investment. My husband and I (we met shortly after I bought my house) would have never been able to afford to buy a house in 2020 if I didn’t have a house to sell.

[@billbuffington3037]

I've seen situations where it works, and some where it don't. Its normally not about getting along with each other, but what happens when the unexpected occurs. What happens when one loses a job, changes a job that involves a move or longer commute, or one starts a relationship that complicates living arrangements, or a large maintenance expense occurs and someone can't pay their share, or parties differ on who is going to do the yard work, or daily chores. It gets even worse when one wants out and just leaves with little notice, and the ones left behind have to find a way to end the co-ownership or lose their share of the property. Most investment advisors and attorneys would recommend against it, but Gen-Z needs to learn their own lessons. We've all made dumb decisions.

[@sn5806]

I think this makes sense if you've lived together for a while, both make enough money to pay the bills without much trouble, and can work with an attorney to work out the details along with some contingencies should your situations change, but I can also see this going really poorly.

[@stormeliz7406]

My dad was an attorney. His advice is partnerships are not a good idea. Stay away from co-ownership of homes.

[@billbuffington3037]

Entering in decisions like this is what make attorneys rich

[@rinoacooly2]

My lifelong best friend and I went to the same university. We agreed to never to live together so we can stay friends. I think that was the best decision we ever made 😆 On the otherhand, one of my roommates later became one of my best friends. If I was still unmarried, I could see myself doing something like this with her because our relationship was created differently. Overall, it's still better to do this with a spouse.

[@thelifeofriley815]

This is how most of my friends are able to afford their homes and/or cost of living. They buy larger than they need and rent out every room. Splitting costs 3-5 ways is the only way to survive the current market. Rent went up 30-50% in the last year and median home value is up 50% in the last year. Sucks we have to move to a new area and get new jobs just to afford living.

[@GodBound.]

You all right. It might cause friends to fight or one break one another down.