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Buying Alone or Investing with My Brother? (First House)

Hi everyone,

I'm 30 years old, living in Italy, and planning to buy my first home.

Current Situation

  • Savings: €40,000
  • Salary: €1,200/month
  • Affordable mortgage: Under €400/month (loan of less than €120,000)
  • Market prices:
    • New homes: €3,000/m²
    • Auction properties: €1,500/m² up to €2,000/m²
  • At auction prices, I could buy up to 80 m², though 50 m² would be sufficient. A 50 m² home would mean a mortgage of around €250/month.
  • Renovation costs range between €30,000 and €50,000
  • I’m eligible for a 100% mortgage (no down payment) until the age of 36.

My brother recently moved 100 km away. He earns twice my salary, but his cost of living is also significantly higher. Realistically, unless you're earning €3,000 net per month, it's very difficult to afford a home in Italy.

Possible Scenario

My goal is to keep my mortgage low, both in cost and stress.
One option is to buy the cheapest apartment available, move in now, and later, when my income increases or my plans evolve, rent it out and upgrade.

Dilemma

I’d like to start a family eventually, but I currently lack the financial foundation (income or capital) to support that or to buy a larger home. However, there’s another option: team up with my brother to buy a larger, independent house and split it into two separate living spaces.
This would allow me to: make a long-term investment, own an "indipendent" home, align with my goal of starting a family.

Cost Comparison

Option 1: Cheaper Apartment (Auction)

  • €1,500/m² × 50 m² = €75,000
  • Renovation: €25,000
  • Total cost: €100,000
  • Monthly mortgage (30 years): ~€280

Option 2: Shared Independent House with Brother (Auction)

  • €2,000/m² × 100 m² = €200,000
  • Renovation: €96,000 total → €48,000 each
  • Total cost per person: €150,000
  • Monthly mortgage (30 years): ~€360

Question:

Given the financial and lifestyle implications, which scenario makes more sense long-term, buying a small, more affordable place on my own now, or co-investing with my brother in a larger property?

I'm actually wanting to stay here in this place, and make a career (I'm actually searching a better path), tho I could make more money. I like this place because it have all the services if you want to make a family it's perfect, but also if you're co-parenting or having divorce/separation, still can live a good life!

submitted by /u/crepuscopoli
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1l4nvk1/buying_alone_or_investing_with_my_brother_first/
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