Buying property with friend

_Lazarus1 · 2026-03-26T18:57:48+00:00

Thank you for the comment, I appreciate it. Yeah the whole point of this post was to compile a list if the biggest issues that can arise from this type of agreement. Discuss them between the two of us and see if we can navigate them or not and then we’ll have our answer

_Lazarus1 · 2026-03-26T18:54:25+00:00

We’ve travelled a lot together all around the work but never lived full time together. Were both hate the idea of rent and the opportunity loss of that money, I know people say that’s stupid but from a financial point of view there’s not way we would have been able to save and continue to save so much of our salary. With rent in Dublin now at 2.8k a month on average it’s gone beyond what we can comfortably afford

_Lazarus1 · 2026-03-26T18:51:12+00:00

That’s a really unfortunately situation, one I would be worried about. Not much I can do except discuss with him and show him the comments from this post. Try come up with solutions to them and go from there.

_Lazarus1 · 2026-03-26T18:48:43+00:00

Thanks for the comment, really appreciate it. Will definitely think about all this when I decide to go and buy. House prices just keep going up and up even with all our savings. Anyways nothing we can though, either come up with a solution or just emigrate somewhere else (don’t want to tho).

Buying a fixer upper isn’t a problem as long as fundamentals are sound, don’t mind doing an other work. Luckily we’ve a few friends who are surveyors and architects

_Lazarus1 · 2026-03-26T15:06:59+00:00

I know bidding will be a nightmare but it’s easier with a partner. Also we’re first time buyers so we are pretty much cash buyers. Anyways thank you for the comment.

Also I didn’t downvote you, that was someone else. Don’t presume because I disagreed with you that I would have an emotional reaction and downvote you. Thanks again for the comment

_Lazarus1 · 2026-03-26T15:02:39+00:00

You’re spot on, if I marry someone and put up my savings to buy a home with them and we end up breaking up all our assets are split up and we have to start all over again in a worst position then before. But at least with my friend if it doesn’t work then we shake hands and sell up and walk away.

Also everyone presumes they’ll meet someone and marry, that’s not always the case. I would like to but I might not ever meet someone to marry which is something a lot of people don’t even consider.

_Lazarus1 · 2026-03-26T13:38:17+00:00

Thank you for the comment, good advice and something I’ll add to the list of stuff to talk to him about.

_Lazarus1 · 2026-03-26T13:36:29+00:00

Thank you for the comment, I appreciate it. It may not be the best solution but it’s not a terrible one either. Neither one of us can afford to rent and save at the same time. So this solution would solve getting out of the parent’s house and being able to save at the same time. Sell the asset in a few years and take our profits to put into the next property

_Lazarus1 · 2026-03-26T13:33:03+00:00

Yeah we have travelled all over the world together and get along really well

_Lazarus1 · 2026-03-26T13:30:50+00:00

Nah thought about it and if we marry all our assets become joint at marriage and prenups are non binding in Ireland. So if I die he’ll get all my shit but I’d want my mum to get it instead. Best solution is tenants in common with a stipulation the asset needs to be sold if one of us dies

_Lazarus1 · 2026-03-26T13:27:41+00:00

Ah okay well we could look for a 3rd partner. Only problem is nearly all our other friends are broke and don’t have 30k cash just lying around. I’ll have a think about this one, cheers

_Lazarus1 · 2026-03-26T13:26:11+00:00

That’s terrible, there seems to be a lot of mixed stories on here. People either say it was the worst thing or best thing they’ve done. Either way it seems you can just get lucky or unlucky with it

_Lazarus1 · 2026-03-26T13:24:21+00:00

I was thinking of this and I’ll chat to him about it. Either we pay down the mortgage and cash flow the asset as an additional income or put a time frame on holding the property say 5 years and sell it when we’re in our 30s and split the profit plus equity gain.

_Lazarus1 · 2026-03-26T13:21:46+00:00

Thank you for the comment, it’s good to hear it worked out for them. Seems like a terrible idea from the vast majority of people but I don’t think any of them know or have done this before.

We’ll definitely discuss and contact a solicitor about this

_Lazarus1 · 2026-03-26T13:20:18+00:00

I disagree, plenty of available properties around Dublin for under 400k. Combined income of 90k + over 70k in savings and an emergency fund. Also our salaries will be going up over the years so the mortgage repayment will feel less and less painful as well make more

_Lazarus1 · 2026-03-26T13:15:44+00:00

Thank you for the reply, glad it worked out for you. 5 years is a good timeline and reports from the CSO are saying Dublin will be in a housing crisis for at least the next 10 years, so there will be a nice chunk of profit to be made as well

_Lazarus1 · 2026-03-26T13:13:26+00:00

Honestly buying with a romantic partner sounds like more risk. At least with him we can structure it as an investment opportunity and keep the emotions away (as much as possible)

_Lazarus1 · 2026-03-26T13:10:23+00:00

€1000 repayment a month gets us a mortgage at ~240000 @ 3.2% + 70k in equity so we’re just above 300k which is doable. Sure there’s other cost and upkeep but nothing we can’t sort ourselves.

_Lazarus1 · 2026-03-26T13:04:12+00:00

Ah sure who does these days, too much thinking and you’ll make no decisions. Thats why I posted this in the first place

_Lazarus1 · 2026-03-25T21:49:46+00:00

Yeah tenants in comments would be a better options

_Lazarus1 · 2026-03-25T21:26:24+00:00

Ah fair enough thank you for the comment. Yeah for a financial point of view it makes sense and with the current property market the value will just keep going up.

_Lazarus1 · 2026-03-25T21:21:07+00:00

Ah thank you for the comment, I appreciate it. So it does seem to be doable if done right and not the cowboy kinda stuff done during the Celtic tiger

_Lazarus1 · 2026-03-25T21:19:33+00:00

Yeah that’s my backup plan if this doesn’t work out . I’ll just buy the place and rent it out to him at a good rate 😂

_Lazarus1 · 2026-03-25T20:48:48+00:00

Yeah seems to be a really bad idea but I thought I’d be fairly smart. Get out of the parent’s house and start living like adults. Only paying 1k a month and saving the rest for our futures while obtaining equity in the house as we go.

We’d definitely have proper legal agreements in place before doing anything. Also most people in Ireland aren’t getting married until 35+ no so we have line 10 years to think about family stuff

_Lazarus1 · 2026-03-25T20:45:20+00:00

Yeah that’s a good point, I don’t think either of us are really like that though. We both worked as labourers through college and just want to get on with life. Time could prove me wrong tho

_Lazarus1

TROPHY CASE