Is buying residential property now unwise?

[heyya99]

Have any of you ever bought with a friend/family member? I've been offered to buy with a friend (2 bed) and a family member (1 bed but shared ownership).

[northernladuk]

Have any of you ever bought with a friend/family member? I've been offered to buy with a friend (2 bed) and a family member (1 bed but shared ownership).

Don't do it. It won't end well.

[BrilloPad]

Don't do it. It won't end well.

With a proper contract it should be fine?

[northernladuk]

With a proper contract it should be fine?

Ah yes.. Of course it will.

[heyya99]

Don't do it. It won't end well.

Is that to both suggestions? I know buying with friends is dodgy, but a brother?

[LucidDementia]

If you buy wisely you will be able to rid out the storm.

Plenty of folk around with mortgages bigger than their house value even after 10 years paying.
The truth is that property isn't the best investment, unless of course you're buying cash or very very fast.

[northernladuk]

Is that to both suggestions? I know buying with friends is dodgy, but a brother?

It's even worse when you include family. Falling out with a friend is different to falling out with the family. A friend is one person, your brother will include all your family. Involving family in property and money rarely ends well.

[LucidDementia]

Is that to both suggestions? I know buying with friends is dodgy, but a brother?

Potentially even worse. Do you want to fall out with your brother in a big way?

[LucidDementia]

Damn you NLUK

[ITblows]

Have any of you ever bought with a friend/family member? I've been offered to buy with a friend (2 bed) and a family member (1 bed but shared ownership).

Brought a bit of a fixer upper with a friend did not work out well, would not recommend