Growing co-buying trend increases access to some aspiring homeowners

When sisters Tara and Natasha were looking to buy their first home, they knew they needed to pool their resources. But co-buying a home is complex with many pitfalls and moving parts, which can cause friction, uncertainty, added costs and avoidable risk.

So I referred them to CoBuy – an end-to-end platform to make buying a home with friends or family simpler, safer and more affordable – and they went to work on helping the sisters formulate plans for how future changes in their lives would affect their property ownership and how to move forward.

We soon found a duplex in Upper Rainier Beach that offered them separate spaces with the option to socialize when they wanted. The house had been on the market for 12 days, but as luck would have it, they received multiple offers, so we ended up competing.

I advised Tara and Natasha to have a pre-inspection done to strengthen their offer, which was accepted, and they got the house. First, they made some systems upgrades and remodeling before moving in. Then they moved in and were enjoying their new home. In less than a year, Natasha landed a job out of town and needed to move. Fortunately, they worked with CoBuy and had a plan for this scenario.

SUCCESS STORY: Sisters Buy & Sell their First Home Together

Watch the video to learn more about cobuying a home with friends or family.