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John McClintock Team

Co-Buying Homes With Friends or Roommates is Inching Up

Unmarried partners often buy a house together, but there has been an increase in friends or roommates buying together as well, and for those buyers, there is plenty to work out ahead of time.

Home purchases by roommates are still a small fraction of total sales, but in the second quarter of 2021, their share rose to 3% of all buyers, up from 2% a year earlier, according to the National Association of Realtors in D.C.

NAR cites a couple of likely reasons, including a drop in marriage rates and people getting married later but not wanting to miss out on homeownership, and, with home prices so high, the significant increase in buying power and saving power two people have.

Roommates and friends buying a home together are not just young buyers. Some are widowed or single seniors.

Source: WTOP News, wtop.com

Are you considering selling and/or purchasing a home across Bucks, Montgomery, Delaware, Mercer, Burlingotn or Phialdelphia? More than ever, you need expert, professional representation. Before you list your home for sale, call The John McClintock Team at 267‑759‑9518 for no obligation recommendations on dealing with bids, realistic prices and precise timing.

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Information is deemed reliable but not guaranteed.