"We were renting an apartment in a big city together, but we both knew homeownership there was incredibly expensive and generally out of reach for single people. She worked in a smaller school district about an hour away and was tired of the long commute. As a freelancer, I knew I'd have an almost impossible time qualifying for a mortgage on my own."
"When we told people in our lives our plan, they told us we were making a huge mistake. "It'll end in disaster," they warned. "What if you fight about money or someone gets married?" But we figured married people also fight about money, and we didn't go into this situation blindly. We knew each other well and had conversations that many people avoid (even in marriages)."
Two best friends bought a house together fifteen years ago to afford property, reduce commuting burdens, and overcome mortgage qualification challenges. They selected a modest 1960s house near the friend's workplace where prices were much lower and living space greater. They held explicit conversations about contingencies, agreeing that if one died ownership would pass to the other and that prenups would keep the house out of future marital assets. They navigated skepticism from others but relied on mutual knowledge and legal protections. The co-ownership enabled stronger financial positions, substantial equity growth, and a stable shared home despite occasional imperfections in living together.
Read at Business Insider
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