When it comes to homeownership, money expert Dave Ramsey does not recommend buying a home with someone you’re not married to.
However, Ramsey said to never do this under any circumstances. Here’s why Dave Ramsey thinks buying a home with a partner before getting married could be a financial disaster.
What Should You Buy First? (Hint: It’s Not a House)
According to Ramsey, people in relationships who buy homes together before getting married complicate the breakup “like nobody’s business.”
“You’re gonna buy a house with her? You better put a ring on it first, buddy,” Ramsey said.
The call took an interesting turn when Dominic revealed the couple had been together for six years. Getting married, Dominic said, would cost a lot of money to spend on the wedding.
“You don’t have to spend a lot of money on the wedding,” Ramsey personality Jade Warshaw said, adding that you can get married at a courthouse and have a party later if wedding costs are too expensive.
Don’t Buy a House With Someone You’re Not Married To
Ramsey has heard horror stories over the years about couples who weren’t married and bought a house together.
“Because you now have a partner, you have no protection under the law,” Ramsey said, “Get married and then buy the house.”
Even if you have to put off buying a house because you have an expensive wedding, Ramsey highly recommends making these moves in the right order.
“I don’t want your marriage doomed and I don’t want your finances doomed,” Ramsey said.
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