Co Buying With Friends or Family for Greater Buying Power
I recently had two couples ( a brother and sister with their respective significant others) go in together on the purchase of a lovely duplex I had listed. This got me to wondering how many other people out there may benefit by joining themselves up with other family or friends and purchasing property together and what it might entail.
A bit of research has shown me that 17.4 % of purchases nationwide in just the first part of 2018 involved a deed being filed with non-married buyers listed. This number is up nearly 3% year over year and shows no signs of slowing its’ climb.
With the combined incomes, and therefore higher down payments and greater borrowing power, this could be the perfect way to be close to those you enjoy being closest to all while living in a nicer home and building a future.
Build yourself a little compound, multi-units and pool could be your very own piece of heaven.