Overview

• Rising housing costs have pushed the median homebuyer age to roughly 56, leading more younger buyers to consider teaming up with friends.
• A survey cited in the coverage reports that nearly 15% of Americans have purchased a home with a non-romantic partner and that 70% of Gen Z would be open to it.
• Pooling resources can accelerate buying timelines, improve chances of qualifying for a mortgage, and divide payments that could be cheaper than renting.
• NerdWallet flags added complexity, noting some lenders and real estate agents accustomed to working with couples may hesitate with multi-party purchases.
• NerdWallet and real estate expert Brendon DeSimone advise legally binding cohabitation or purchase agreements that define timelines, sale triggers, and buyout terms.