Buying a home with friends? Be clear on goals, share finances openly, consult experts and plan for exits, co-homeownership pros say.
NEW YORK — Real estate broker Amy McKenna and mortgage lender Ruby Grynberg work with groups of people who are interested in co-homeownership. The pair hosts info sessions nearly every month throughout Seattle on the finances, legalities and benefits of co-homeownership. Here are some of their expert tips on how to buy a home with friends.
Write out your intentions
Be clear with your friends about why you're doing what you're doing. Is it to save money? To spend more time with the people you love?
Two of the most common incentives for co-homeownership are affordability and community, McKenna said. Having an intentions document as a reference is critical to making sure that everyone is on the same page and is entering co-homeownership for clear reasons.
It's also critical to be aligned on expectations and contingencies. This includes everything from how to split expenses, such as emergency repairs, and how to share responsibilities and communal spaces.
Being able to articulate early on how you envision co-homeowner life on a day-to-day basis can help determine whether you should be a co-homeowner at all.
Read more: https://www.floridarealtors.org/news-media/news-articles/2025/05/tips-co-owning-home