QuoteThere's nothing that says "Be my Valentine" quite like a new set of house keys and a fresh new 30-year mortgage. Or maybe not, but about 40 percent of millennials do believe it's a good idea for an unmarried couple to buy a house, according to a survey by Time Magazine.
The same survey said that 37 percent of respondents replied that a serious couple should buy a house before getting married.
"Low-rate mortgages, rising rental costs, and the ability to deduct mortgage interest from income taxes all make being a homeowner now rather than later seem like an attractive option," the website reported.
However, most financial planners would advise against a home purchase between two people that aren't married, but if you're going to do it, here's a few steps to take before signing the deed.
Compare credit scores as they will affect the interest rate of any mortgage
Put any agreement in writing in case hearts later cool
Understand the different implications of how a deed is titled. Depending on how it's titled, relatives could inherit the property in the event of a death.
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Florida unwed couples better be careful, roommates of the opposite sex aree illegal here. And yes, they sadly enforce that.