There are both benefits and risks involved when purchasing a home with your boyfriend/girlfriend/unmarried partner.

Let’s review those in an attempt to prevent a potential future disaster. It’s not that it’s not recommended, and done every day, but being aware of the benefits and potential risks just makes common sense.

Benefits of buying a home with another person:

  1. Shared financial burden: When buying a home with another person, the financial burden of paying the mortgage and other expenses is shared, which can make homeownership more affordable.
  2. Improved credit score: Buying a home with another person can improve your credit score if the other person has a good credit history.
  3. Increased buying power: Buying a home with another person can increase your buying power, allowing you to purchase a more expensive property that you wouldn’t be able to afford on your own.
  4. Joint decision making: When buying a home with another person, you can make important decisions together, which can be helpful in ensuring that everyone’s needs and wants are met.

Risks of buying a home with another person:

  1. Differing opinions: Different opinions and expectations regarding the property, budget, and responsibilities can lead to conflicts and disputes.
  2. Financial dependency: If one person is unable to pay their share of the mortgage, the other person may be forced to shoulder the financial burden, which can put a strain on the relationship.
  3. Legal complications: If the relationship between the co-owners changes, there may be legal complications in selling the property or transferring ownership.
  4. Credit score impact: If the other person has a poor credit history, it can negatively impact your credit score and make it harder for you to get approved for future loans.

In conclusion, buying a home with another person can have both benefits and risks. It is important to carefully consider these factors and to have open and honest discussions with the other person before making a decision.

It also makes sense to have a conversation with an experienced realtor at There is never a cost or obligation to have a conversation, and if you decide to move forward you can work with the same LGBTQ+ friendly agent and be assured of full representation. and the 3500 realtor partners have been serving our community for over 25 years!