Co-buying is the norm, especially for partnered buyersCo-buying has increasingly become the norm for today’s buyers. According to Zillow's 2023 Consumer Housing Trends Report, 62% of home buyers purchase and share ownership of their homes with at least one other person. Of these buyers, 50% co-bought their home with a partner or spouse, while a combined 26% co-bought with a friend or relative. Single, never-married buyers are also more likely to co-buy, citing affordability and a smoother mortgage approval process as reasons for making the purchase.With “Own with a Friend,” Pacaso now supports co-ownership with a friend, partner and other family member. Buyers can effectively split their share with another person and achieve a more affordable ownership experience. Plus, they also split the time in their home, making the program an appealing option for families who prefer to spend around three weeks of the year instead of the average six."Co-buying a Pacaso with my partner has exceeded all our expectations,” said Colin, an owner of a home in California Wine Country. “We have a beautiful home that meets our needs for half the price of a 1/8 share. We wouldn’t have made the leap if we weren't able to share the financial burden — now, we get to enjoy a second home that we both love.”
How "Own With a Friend" worksWhether you want to buy a Pacaso with a childhood friend, longtime partner or trusted business associate, the new "Own With a Friend" program offers all the benefits of co-ownership, including:
- Reduced costs. Split your purchase price, down payment, and monthly operating expenses in half.
- Tailored usage. Divide the time with your co-buyer and make use of the 6-7 average annual stays that come with your share.
- Streamlined access. Enjoy full use of the Pacaso app with your co-buyer, including scheduling, owner support and more.