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Thirty-one percent of all Americans and 41% of 18-to-34-year-olds say they’ve purchased a primary residence with someone they aren’t married to, according to a survey by realtor.com®. Further, 55% of Americans and 68% of 18-to-34-year-olds say they would consider it.
“With home prices skyrocketing in recent years, it’s become even more challenging to break into the housing market for first-time buyers,” says Clare Trepasso, deputy news editor at realtor.com®. “Many buyers have needed more than one income to afford a home, especially as rising rents may be eating into their down payment savings. However, the pandemic delayed many weddings. And rising prices forced some couples to choose between saving to become homeowners versus having the big day. This has resulted in many unmarried couples, as well as extended families and friends, pooling their resources so they can afford to become homeowners.”
The most common co-buyers are romantic partners who are not engaged or married (15%). But Americans are also open to buying with extended family members or roommates.
Here’s the breakdown:
- Romantic partner, not engaged or married (15%)
- Parent, grandparent, or older relative (6%)
- Child, niece or nephew, or other younger relative (5%)
- Sibling, cousin, or relative of a similar age (4%)
- Roommate (4%)
- Friend (4%)
Also, here’s who they would consider buying a home with, according to the realtor.com® survey:
- Romantic partner, not engaged or married (27%)
- Child, niece or nephew, or other younger relative (20%)
- Parent, grandparent, or older relative (17%)
- Sibling, cousin, or relative of a similar age (16%)
- Friend (10%)
- Roommate (7%)