Wisconsin residents may feel that buying a home with a partner is easier than getting married. However, the opposite may actually be true. For instance, those who want to end their marriage may only need to divide joint assets. To leave a house, a person will need to find a buyer, and that may not be easy depending on the condition of the home.
There is generally no returning a house once it has been purchased. This means that an individual may not have as much leeway to change his or her mind without incurring a financial loss. When a person plans on getting married, there is generally still time to back out without losing everything that was spent on a ring or the wedding itself. As people get older, they tend to get better. This is generally not true with a home.
As it ages, it generally becomes harder and costlier to maintain. Furthermore, it is not possible to overlook problems with a home. If even a minor issue is allowed to linger, it could result in expensive and time consuming repairs. Improving a home may also be harder than improving a marriage. While a couple may pay a few hundred dollars for marriage counseling to improve a relationship, it may cost thousands to fundamentally alter a home.
As a general rule, real estate transactions are complex and may take several weeks to complete. Therefore, it may be a good idea to have an attorney review the final purchase agreement. Legal counsel may also do title searches or assist during the process if property lines or other boundaries are in dispute.