TIC with best friend: good or bad idea?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Q: My best friend and I have been like sisters since we were 10 years old. We happen to both be house hunting in the same area at the same time -- me with my husband, and she with her new-ish (but serious) live-in boyfriend. We stumbled across this super-cute duplex with mirror-image units. It wasn't exactly what either couple was looking for, but the units would work well for both of our households, and we are each qualified for more than half of the price of the building. She and I trust each other implicitly, but the men in the group are wary of all four of us sharing a mortgage. What happens if someone fails to make their half of the mortgage payment? Mindset Management There are lots of lifestyle and relationship considerations to take into account when considering a transaction like you describe -- buying a place with your friends. This is a good point in time for you both to reflect on what your goals for home buying were in the first place and determine whether a ...