South Florida NPR affiliate, SA国际传谋, is teaming up with , along with other local media outlets, to produce a series of stories that put a spotlight on South Florida鈥檚 housing crisis. Readers can find all the stories here.
Shared homeownership isn鈥檛 new, but who鈥檚 doing it, is. As prices surge, more first-time buyers are turning to friends to afford a home.
According to the National Association of Realtors, home prices have risen 56% since early 2020. At the same time, first-time buyers now make up just 21% of the market, with the median age of a first-time buyer climbing to 40-years-old.
For many, including 24-year-old Indiantown residents Jacquelyn Cusumano and Camryn Moody, buying a home together was a way to stop spending money on rent and start investing in their future.
鈥淚 just always knew that I wanted to invest in real estate and buy real estate,鈥� said Cusumano. 鈥淪o, it influenced me to just buy a little bit sooner I guess.鈥�
鈥淥ur rent was just very expensive for a small amount of space that we had,鈥� said Moody, who is a small business owner running a bakery. 鈥淭hat kinda added to our decision as well.鈥�
Cusumano鈥檚 and Moody鈥檚 decision mirrors a broader shift. Several housing industry found that about 15% of homebuyers purchased a home with a friend or relative who was not a spouse or partner.
The process did however come with its challenges, from getting approved for a mortgage to having difficult conversations about how costs are split, what happens if one person wants to move, or if one of them is unable to pay their share.
For Cusumano鈥檚 and Moody, they said that being friends for 10 years really brought that trust in each other to make a decision like this.
鈥淛ust deal with that situation when it comes up,鈥� said Cusumano. 鈥淭here鈥檚 no 100% certainty that something wouldn鈥檛 happen. I mean I don鈥檛 know you guys both have a stake in it so you don鈥檛 wanna screw each other over.鈥�
Co-buying isn鈥檛 only for financial reasons. In fact, a 2024 Zillow found that many choose this route because they don鈥檛 want to live alone.
While co-ownership works, experts say it requires planning. Friends don鈥檛 have the built-in legal protections that married couples do, making written agreements and clear plans essential.
