HOME SHARING / CO-BUYING/BUILDING

[yahseeker]

I have the money to buy a home, and to build, but was just curious, especially in light of the current economy. if anyone would be up for sharing a home, co-buying, or if that is even possible? Any experiences, or knowledge on this?

I figure, co-purchasing or sharing, could facilitate more flexibility, and even allow some to "keep" their homes, others to buy or build their homes.

Just a thought.

[Carey]

What you are looking at is buying as "tenant in common" or 'Joint tenancy". Each of these has pluses & minuses & is best done with legal oversight.

I did buy a house in the 80's as in tenant in common with a co-worker, it went very well, but we had a very legal arrangement & my future husband was able to buy her share the morning of our wedding, which took some orchestration, but also worked out well (she had gotten a job promotion & transfer before the wedding, so was looking to sell her share)

You must be much more flexible with this type of arrangement, and it really helps to have the ability to buy out your co-owner if things change... but most do not have that luxury.

[yahseeker]

Thank you for your reply.

[EightFingers]

Google "suit for partition sale". Those things can get ugly.

[leilaniguy]

That's how my house got to this lot. The original owner built it on a lot with his BFF, commune style, then found he couldn't stand the guy, jacked up the house and took it with him.

[john the architect]

You could purchase a lot, home design, and permit package from a seller who would retain a percentage of ownership. That would translate to the value of a monthly payment, assuming you were the user/occupant of the finished home. I have three lots in HPP that could go that way, each with an advanced technology solar house plan including optional variations and architectural consulting services.

John Maloney
310.562.0362
johnmaloney3@me.com
Hawaii Architect AR8082
www.jmagreenbuilding.com