House buying & co-habitation?

I am thinking of buying a house w/ my boyfriend. I am 23 and I know it is a "buyers" market, a great time to buy. We have agreed that I will be the one signing for the house because of his poor credit score, it will save us money that way. But, what happens if we break up and we have a house together?

Do we sell it and split the profits (this is what he suggested)? Do I keep it & he is stuck w/ no investment return from his payments?

I have great credit and I'm probably putting money (mine) down on the home. If I lived there I would probably want to stay even after a break-up & not sell it right away. It is a huge investment.

I just don't want to be trapped owning a home together if it doesn't work out. And I don't want to be stuck alone w/ a huge mortgage as a single woman. Any advice or experience on this one you can share??

Do NOT buy a house with a boyfriend. Do NOT put him on title. If you can afford to buy then do it on your own and have him pay rent. Why should he get half if he didn't put an equal down payment on the house?

If he is on title then he has equal rights to the house and can force you to sell in the event of a break-up. That also means you can't bar him from your home (in the event of a break-up) without a restraining order. What if he doesn't pay his 'rent' but is on title? When you sell, he still gets half the home.

It sounds like you are wary. Trust yourself and don't be swayed!! You're asking the right questions.

It sounds like you are the one who is ready, willing and able to purchase the house. Why don't you just do that and have him agree that he will just rent from you. That way if you split up, he is entitled to nothing as far as equity. That is only fair anyway since he would have to rent somewhere regardless. Otherwise you have the legal entanglements. Buying a house together is a huge commitment.

Good luck.

I think it is a bad idea. Buy it by yourself and have him pay rent--get it in writing! I take that back. Get married, then buy a house. If he is not the marrying type, he is not the type to buy a house with.

Entangling yourself into a huge financial burden with a person who IS NOT your husband is a very risky endeavor. I think that your last paragraph says a lot and speaks to your own lack of uneasiness in this decision. If you are putting the money up, then I would purchase the home. There is also another serious consideration that you would need to consider. Should your boyfriend have legal or credit issues, his creditors could go after the home that you and he would own. Now, is this a situation that you would invite with someone who you do not have a legal relationship? I think that you know that answer here. Good luck!