It’s been mentioned a few times here before and I warn young men and women about it regularly. There’s a serious risk of being left on the shelf due to negative equity. I myself fear the day that my significant other succumbs to bubble mania and buys the ‘investment’ property she’s been hankering for. Australia is still a few years behind Ireland in the bubble cycle and the denial is strong.
In Ireland the reality is clear and present. There are young men and women out there who are carrying a burden of bubble debt and like with herpes if you marry them you take the whole package. Here’s one example from AskAboutMoney but where both parties have been around the block.
Why get married at all? She’s been through a divorce that obviously cacked up her finances for a couple of years, and now she wants to have another special day? If I was a family lawyer I’d set up a dating agency for divorcees on the side.
Move your boyfriend in and he can try rent out his gaff.
“My partner is interested in us buying our own place together in a year or two”. Note who wants to buy the house
How do you know it cacked up her finances, maybe she was married to a sugar daddy and fleeced him? Shes not in negative equity is she, although she may be flirting with disaster if he attempts to get his way.
“I am quiet anxious about the whole thing as it took me a long time to sort out my finances after my divorce and get to the point where I could afford to buy a house for my daughter and myself.”
Given that many vendors can’t sell their house for less than it’s worth, I’m doubtful that those that don’t need to sell have realistic expectations as to what their house is worth. I’d say their equity positions are less favourable than they believe now, and certainly will be in a couple of years time.
I’m still seeing the words “buy” and “let” as the solution where I should be seeing the words “sell” and “rent”
Stealing the words of a contributor here, there are people who think we can return to 2006 if we all hold hands and wish it.
As they say on the Spanish vesion of The Pin. “Puedes elegir cuando quieres vender tu piso o a qué precio venderlo, pero no las dos cosas” (You can choose when to sell your house or at what price to sell your house but not the two at the same time.)
Somehow I can’t imagine a man get away with a query like this.
“I’m about to marry this bird, but she has no money. What shall i do?”
It’s clear she made money from the last marriage, and doesn’t want to share this with her unfortunate boyfriend.
Also no mention whatsoever of the word “love” anywhere in the O.P.
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