When embarking on a property journey with others, it's crucial not to rush into ownership arrangements. In this episode, Amy and DJ provide insightful guidance on the essential factors to contemplate when agreeing on an equity split or profit arrangement.
1. Individual Deposits: Consider the deposits contributed by each party, as it impacts the ownership share.
2. Repayment Plans: Explore how each person's contributions, including mortgage repayments, shape the equity division.
3. Fixed Costs: Learn how to navigate shared expenses like rates and insurance, ensuring a fair split.
4. Variable Costs: Delve into the allocation of variable costs such as utilities, ensuring equity and transparency.
5. Residency Arrangements: Determine who will reside in the property and how this influences equity distribution.
By understanding these factors and taking a thoughtful approach, you can forge equitable and harmonious property partnerships. Don't miss this episode, your key to successful equity splitting, and make confident, informed decisions on your property journey.
We use a few figures in this episodes examples so if it all gets too much don't forget to check out the online tool and work things through in your own time.
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