Hi all,
My wife and I are buying our first home.
The long term thinking is that in a few years time, we will upgrade and rent this one out.
My question is, does it make sense to set it up as Tenants in Common 50/50 now, and then change it to some other proportion later (as we have different levels of income) when we rent it out?
Is it just as easy as that? Can we change the proportion of Tenants in Common anytime we want? Whats the catch?
thanks!
My wife and I are buying our first home.
The long term thinking is that in a few years time, we will upgrade and rent this one out.
My question is, does it make sense to set it up as Tenants in Common 50/50 now, and then change it to some other proportion later (as we have different levels of income) when we rent it out?
Is it just as easy as that? Can we change the proportion of Tenants in Common anytime we want? Whats the catch?
thanks!