{"id":9365,"date":"2019-06-20T09:00:42","date_gmt":"2019-06-20T07:00:42","guid":{"rendered":"https:\/\/my-life.lu\/?p=9365\/"},"modified":"2025-08-27T11:23:14","modified_gmt":"2025-08-27T09:23:14","slug":"what-are-the-implications-of-buying-a-home-together-10027","status":"publish","type":"post","link":"https:\/\/my-life.lu\/en\/what-are-the-implications-of-buying-a-home-together-10027\/","title":{"rendered":"What are the implications of buying a home together?"},"content":{"rendered":"

Buying as a couple is great, but only if each person\u2019s interests can be protected! While the risks are limited for a married couple, what about if the couple are in a civil partnership or cohabiting? myLIFE is here to tell you more.<\/p>\n

Having rented an apartment for two years, \u00c9lodie and Marco are ready to take the next step. They want to buy a home together. But how does it work buying property jointly? What precautions should they take to prevent their dream turning into a nightmare?<\/p>\n

So you\u2019re ready to buy a home together, but what exactly do you want to buy?<\/h2>\n

To begin with, our couple will need to agree on what they want to buy. They have to ask themselves the right questions<\/strong><\/span><\/a> and establish the kind of property they are looking for, taking both their wishes into account: house or apartment, town or country, old or modern, work needed or not, two or three bedrooms, etc. Before they even start looking, \u00c9lodie and Marco need to find some common ground, even if it means making compromises and concessions.<\/p>\n

They should also agree on a budget and how they are going to fund their purchase: What down payment can they afford? Will they each put in the same amount? Will they both be named owners? It is essential to discuss all these aspects before going to the bank<\/strong><\/span><\/a>.<\/p>\n

Banks look favourably on couples buying together<\/h2>\n

In most cases, banks are reassured by a couple buying together because they tend to have a greater financing capacity, the down payment is higher and the risk is spread. A banker may therefore offer more favourable borrowing terms, particularly if they can offer additional services to help the young couple with their future plans.<\/p>\n

Nevertheless, \u00c9lodie and Marco should also remember to take into account how their legal status as a couple will affect their purchase.<\/p>\n

The couple\u2019s legal status has a direct impact not only on the purchase of the property, but also on what happens to the asset should they separate or one of them dies.<\/p><\/blockquote>\n

\u00c9lodie and Marco are not married; they merely live together. This will by no means stop them from buying a property together, but they will need to be particularly careful to protect their respective interests. With good reason: the couple\u2019s legal status has a direct impact not only on the purchase of the property, but also on what happens to the asset should they separate or one of them dies.<\/p>\n

A married couple<\/h2>\n

There are three matrimonial regimes<\/strong><\/span><\/a> that directly affect ownership of the asset.<\/p>\n