Desert Luxury Realty
Thank you for visiting my blog. When you choose Mary Williams, as your real estate agent, you are working with a team of seasoned professionals who cater to your every real estate need. Buying or Selling your home does not need to be full of hassels or needless pressure. Take it easy and enjoy the luxury of the desert. I look forward to assisting you with your search or sell of your home. Contact me today!
Friday, July 5, 2013
Should you purchase a home before marriage?
Now that many more citizens of California are able to get married, the question is not whether you can marry, but if you should. It is still a decision to ponder what is in a couple's best interest.
Inman News online had an interesting article about a recent survey on home buyers …. 25% of couples between the ages of 18 and 35 are purchasing homes before they get married.
Of these new home buyers, many said the home purchase strengthened their relationship and were planning on getting married anyway.
Now as great as this may be for some home buyers, there are some things both unmarried buyers may want to consider before either one is carried over the threshold of their new home.
The big one is - what happens to the home if you break up? You have two names on the title and two names on the mortgage. This can get pretty messy.
How do you take title? Join tenants or Tenant in Common? If you’re not married and/or do not have a will, what happens to the home if either home owner passes away before the wedding?
Is there any outstanding debt that could encumber the title of the new home once it’s purchased?
Purchasing a home without being married may need to be more like a business agreement – it isn’t romantic, but may save you one years of anguish or give you years of bliss. Married couples have actual laws to protect their assets. Unmarried couples do not. You may really want to contact your attorneys before putting in an offer to find out what your options are or aren’t.
With the new opportunities now available for Californians, you need to have the most information at your fingertips so you can make the most informed decisions when buying your home. Call me today!
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