Reply to Would you buy/share a retirement condo with friends?

Forum Index » Eldercare

Reply to "Would you buy/share a retirement condo with friends?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Anyone done this? Successfully? Did you write a contract?-  consisting of what rules and stipulations?

A couple friend of ours asked us if we would be open to buying a condo in Naples, Fla. we’ve been friends with this couple for 20 years, our kids use to hangout together when they were little.  I told my DH I don’t think it’s a good idea. First, We aren’t ready since our kids are still in high school, theirs are in college. 2) I don’t like having to reveal our financials to them, 3) We would have to do construction to renovate the bedrooms to be the same size with a master bath 4) Would need to have rules about guest usage, namely our kids, 5) Will situation to name a few worries/considerations. [/quote]

Nope, nope, nope!

You will both likely want to be in FL at the same time.  What happens when they insist they get the entire condo for 2 weeks because "family and the grandkids are coming to visit"

Unless you are really close and get along great with them (and have for 20+ years) it would not be worth the hassle to me.  What if you want to sell, they don't but they don't want to buy you out?  What happens?  Basically you are stuck and cannot access your money.

What if the relationship turns sour, really bad.  Then you loose everything if they are jerks
[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics