Gen Z Turns to Co-Buying Homes
With rising home prices and higher interest rates making affordability more difficult, Gen Z is finding creative ways to step into homeownership sooner. One growing trend among this generation is co-buying—purchasing property with friends, siblings, or even extended family. By pooling financial resources, young buyers can qualify for larger mortgages, split the down payment, and share the ongoing costs of ownership.
For many, co-buying represents a practical solution to a competitive housing market. Not only does it allow them to buy into real estate earlier than they could alone, but it also gives them the opportunity to build equity rather than continue renting. Shared ownership can also help reduce the strain of monthly mortgage payments, property taxes, and maintenance costs, making the dream of homeownership more attainable.
However, experts emphasize that while co-buying has clear advantages, it also requires careful planning. Buyers should establish clear agreements on ownership shares, responsibilities for upkeep, and how future decisions—such as selling or refinancing—will be handled. Having these details in writing helps prevent conflicts and ensures all parties are on the same page.
This collaborative approach reflects the values of Gen Z, who often prioritize community, shared experiences, and flexibility. For them, teaming up isn’t just about finances—it’s also about creating a lifestyle where responsibilities and benefits are shared.
As the market evolves, co-buying is becoming a powerful tool for younger generations who are determined to overcome affordability barriers and secure their place in homeownership.