How Many People should I Involve in the Home Purchase?
Glad you asked. Usually, a good Realtor will find a way to ask you this question, but it’s a good idea if you have thought about it first by yourself. The first thing to consider is if you will be involving anyone in the financial aspect of buying this house. It amazes me when someone calls me to see a house and then tells me that their brother, or sister or uncle is paying for the home. When I tell them to contact the said relative, I never hear back from them. Bad communication!
So if someone is paying for the home, or putting a down payment on the home, realize they will probably want to be involved in the process, be it parents, or whoever. It is usually a good idea to find a time to go looking for a house with them. Also please understand that if they are going to buy the home for you, the lender will consider it an investment property, since they will not be living in it by themselves.
Even if no one else is contributing to the financial aspect of buying the house, if you need a second opinion, be sure to pick your “critic” wisely. Pick someone you know whose house you like and someone you see as having had some success in buying and maintaining a good property. Also be very clear on what you intend the do with the house (will it be a rental later?) and pick your critic accordingly.
One other person besides you (and your spouse) seems to be the consensus. Like with many other things, too many cooks spoil the escrow along with the broth.
