The concept of ‘family’ has been a topic of debate and discussion, with one question coming forth-what is best for the children? This means that you have some legal protections in case one party cannot pay or needs to move.” “Burn the rulebook of life” says Holly, as new, not-yet-explored ideas should be considered, if they make the most sense Additionally, having a lawyer draft a co-tenancy agreement is critical if things devolve.
Holly also notes some things to look out for when co-purchasing: “Being careful to understand the financial position of your co-purchasers will ensure that everyone holds up their end of the agreement. The meetings often happen over a bottle of champagne. To keep everything in order, they have routine “homeowners’ meetings”, where they discuss repairs and yard work. iPads, dishes, cups, and everything else that can be moved and used by a young teen gets misplaced or exchanged for another in an unplanned manner. Holly described the situation as “socks everywhere”. And with a lot of kids comes a lot of mess. Of course, as with everything in life, things don’t always go to plan. When we first moved in, everyone assumed we were renters because our house used to be a rental property, but after almost two years, the neighborhood loves that we are homeowners! We have been able to offer hope to others that home ownership isn’t entirely out of reach even in an expensive area.” The choice has provided lots of benefits, allowing for the women to save multiple thousands of dollars per year, as well as support each other emotionally and help out when needed.īored Panda reached out to Holly to ask some questions, one of them being, what was the response from family and the neighboring community and she said that her family members were used to her “unconventional approach to everything and have been supportive throughout. Legally, they are co-investors, as Holly puts it, essentially, living in a condo building with an informal, but legal, agreement between them.
The two friends found two other single ladies, Jen and Leandra, and purchased a four-unit home together.
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