Buying Together
Buying a home with family or friends can make home ownership possible, but it needs careful planning.
For some people, buying together is a way to combine resources and make purchasing a property more achievable. But sharing a mortgage and a property also creates responsibilities that need to be understood from the beginning. I'll help you look at the lending side of the arrangement and think through what needs to be considered before you commit.
What is joint ownership?
Joint ownership means two or more people own a property together.
You may share the mortgage, insurance, maintenance and other costs, but it's important to understand exactly how ownership will work between you.
There are different ways of owning property in New Zealand, including joint tenancy and tenancy in common. The right structure will depend on your circumstances.
I'll help you understand the financing side and work alongside your solicitor, who can advise you on the legal structure and put an appropriate property-sharing agreement in place.
The important thing is to have the conversations early - including what happens if someone's circumstances change or one person wants to leave the arrangement.
Get in touch
Thinking about buying with family or friends? I'd be happy to talk through the lending side with you. If you have questions or are ready for a conversation, get in touch.