Nicole McGowan

Buying a duplex with a friend is not a bad idea at allaEUR"in fact, for a lot of people right now, it's one of the most practical ways to get into the market when buying solo isn't realistic. If the plan is to live in it for a bit and eventually turn it into a rental, that's actually a solid strategy. You're able to share the cost now and build equity, while also setting yourselves up for future income. The biggest thing I'd focus on is your exit plan. If one of you wants out down the road, you need to already know what that looks like. Can the other person buy them out? How are you determining value at that time? And if neither of you can buy the other out, are you both agreeing to sell? Another big one is decision-making. At some point, you're going to disagreeaEUR"whether it's about selling, refinancing, rent prices, or repairs. Deciding ahead of time what requires both of you to agree versus what one person can handle will save a lot of stress. Without that, deals can stall or relationships can get strained. The legal side has already been mentioned, so that's good. And one thing people don't always think aboutaEUR"life changes. If one of you gets married, has a financial shift, or needs to relocate, that can impact the property and your agreement. Planning for those " what ifsaEUR? upfront makes everything a lot smoother. Overall, this can absolutely work and be a really smart moveaEUR"as long as you go into it with a clear plan, honest communication, and structure in place from the beginning.

Not dumbaEUR"but it can go very wrong if you treat it casually. I work with a lot of relocation buyers (especially military), and plenty of them close on homes without ever seeing them in person. The difference between a great experience and a disaster usually comes down to how much visibility the listing provides. Then the agent, lastly the inspector. A good 3D (Matterport style) tour can give you a true sense of layout, flow, and spacing in a way photos just can't. You can virtually walk the home, look at angles, and start to understand how it actually lives. Then, a FaceTime walkthrough becomes the second layeraEUR"where your agent is confirming details, opening things up, checking condition, and giving you honest, real-time feedback. That combinationaEUR"3D tour + live walkthroughaEUR"is what removes a lot of the guesswork. Then the Seller's Disclosure aka Property Disclosure. this is a legal document that the sellers have to answer in regards to different aspects of the home mechanics. And I'll be honestaEUR"if a listing agent really wants to market a home properly (especially in a competitive or relocation-heavy area), investing in a 3D tour is becoming more of a standard than a luxury. Your inspector is your next layer of protectionaEUR"but your agent is your 1st line of defense. And here's the part most people don't think about: you need a clear exit strategy built into your contract. Inspection periods, contingencies, and knowing when to walk away matter just as much as the home itself. Is there risk? Yes. Is it crazy? Not at all. It just requires a higher level of diligenceaEUR"and the right systems in place to make sure what you see virtually matches what you're actually buying.