When you buy a home with your kids you share responsibility for the costs involved while receiving the benefits of investing in property.
It’s important to understand that as a co-owner you are included on the loan and are responsible for the entire debt until it is repaid.
So that means even though as a co-owner you’d technically own only half of the property, if your child failed to pay their part you could be responsible for repaying the entire loan.
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It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.
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