In 2015, we decided to co-buy a home as family members. We wanted to continue living together, but also to become homeowners. Pooling our resources seemed like a great way to increase our purchasing power and share expenses. We thought co-buying would be easy given our real estate, finance, and development backgrounds. We were wrong.
We learned that buying a home together is complicated. There are many unknowns and closing on the purchase is just the start of co-ownership. Our experience highlighted how traditional real estate fails non-traditional buyers and entirely ignores co-ownership.