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Two heads make a monster.
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Thanks Bill - I will.:popcorn: |
couple ownership
i have always heard not to do business with family or fiends
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One issue that you will need to address is master bedroom usage. Most homes have a large master bedroom with en suite bathroom. Guest bedrooms and bathrooms are very small with small closets. So who gets to sleep where when both couples are there for 3 or 4 months? Also I have been told each home only gets two resident ID's. Who gets those? Two golf carts and two cars? Need a large home with a very large garage. Probably a premier with a three car garage.
A better solution would be to each buy a smaller home very close together, even side by side. Two patio villas or two courtyard villas. Even two small ranch homes side by side or on the same street. Also give you lots of extra space for other friends and family. |
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That is a good solution. We had friends, two couples, who together bought a cabin at the lake. They got along fine there, but the kids would come and bring friends and they would not take good care of it and that caused tension. If someone spills wine or coffee on the furniture it usually can be fixed if attended to right away but not if it is set in and dried for weeks....as an example. Or if one couple would arrive to find that the beds weren't changed and stuff was left in the refrigerator and the blinds weren't pulled. or the water wasn't turned off, or the door left unlocked...it is hard to express criticism of another's kids or guests. I think the side by side or near each other idea is a very good thing to consider. I think anyone could get along with you Coach Ed, and I know you choose like friends, but think and think again on this. Familiarity breeds contempt.Plus.... What if one couple never puts a new toilet paper roll in? When you're older, little things mean a lot. ;) |
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Methinks the developer needs to look closely at this issue. If everyone on the deed gets an ID, we could have group ownership, and a whole new set of nightmares with lower degrees of vested interest by owners.
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Ed:
It sounds like you thought long and hard on living together with this couple. Have you been on trips before where you shared acomendations? Was it totally harmonious? I have a friend that is like a brother to me and stay at his house once in a while. We are totally harmonious and never have any problems. BTW - He's married. It sounds like a win win situation that you are going into with your eyes wide open. I say go for it. |
Ed,
It seems that you have thought this thru and have tested the waters by living with each other for a two month stretch already. Since it worked for you, I say " Go For It" You are very lucky to have found such a good friendship. |
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Since you are both familiar with renting, why not one couple buy the house and rent to the other? Would make tax time easier(one couple getting the deductions, rather than splitting interest and property taxes to the satisfaction of IRS) and also parting ways if at some point things don't work out.
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I know of people who rent every year together and have this problem. They have decided that odd years, one person gets the master bedroom and even years, the other. It seems to work for them.
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