Co-Buying

The Pros And Cons Of Co-Buying

Posted on by TMN Editor
Co-buying has gained popularity as Americans search for ways to afford a home. But for all its benefits, it also comes at a cost. A new survey from LendingTree found that 29% of Americans would consider co-buying a home with someone other than a spouse or significant other. That number varies by generation, broken down into 36% of Millennials, 25% of Gen Xers, and 13% of baby boomers. Most of those open to co-buying said they would prefer to buy with a family member who wasn’t their spouse (63%), while a good friend or current roommate would suit just over half (57%). Six-figure earners are the most likely income group to consider co-buying (38%), while those making between $35,000 and…

Millennials Are Willing To Co-Buy In Order To Afford Their Dream Home

Posted on by TMN Editor
As first-time buyers struggle to find an affordable home, many Millennials say they are willing to co-buy in order to access bigger mortgages. Pairadime, a new fractional ownership solution with a focus on co-buying, surveyed 1,000 Millennials who say they don’t want to wait for marriage to co-buy a home. Instead, they want to co-buy with their parents, friends, or other family members in order to afford a house in current market conditions. Only 4% of respondents said they would wait until marriage to buy with another person. “During the pandemic, people have been renting and they may have wanted more space, and so they looked at, perhaps, their roommate and decided, ‘Let’s go buy a home together,'” Jessica Lautz,…