According to the National Association of Realtors more and more millennials are co-buying their homes with friends. The NAR reports at approximately 4 percent of first-time buyers in the period between June 2018 to June 2019 purchased their home with a housemate (non-relative). This represents a 100 percent increase from the previous year.
Of course, there are always issues to be worked out, such as the names on the title, responsibility for paying the mortgage, not to mention repairs and maintenance.
Ultimately, of course, it’s a business transaction even among friends. So far, many millennials seem to have it figured out.
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