Thinking of buying a house with your kids?

November 27 2018

It’s very common for parents to co-buy a property with their children. Some do it to help their college-aged children save money while in school, while others aim to help them get on their feet and eventually buy a home on their own. It can also allow for more time with the grandkids or even helping hands around the house. 

Whatever the reason, deciding to co-buy a home is a big decision, and it’s not one to be made lightly. If you’re thinking of co-borrowing with your child, make sure to consider these pros and cons first.


  • Building Credit - This could help minimize the amount of debt borrowed for student housing, which can help them buy a home in the future. 
  • Gaining Equity - Co-buying can help you build equity, which generally leads to more profit in the long run.
  • Buying Potential - With two incomes and two savings accounts, you may be able to afford a larger property or one with more upgrades. 
  • Making Memories - If you’re cohabitating as well as co-buying, it can mean more quality time with your family.

Potential Challenges:

  • Creating Privacy - If you’re planning to live together, try to find a home with a layout that offers individual privacy with separate entrances or bedrooms on different levels. 
  • Planning Ahead - When co-buying, it can help to create a contingency plan in case one person wants to sell before the other is ready.
  • Sharing Household Responsibilities - How will household duties be divided? How will the maintenance costs be shared? 

If you’re considering co-buying a home with your child, contact us today. We’ll help you make the right decision for you and your family.

Whether you are buying, selling, or refinancing, it is important to have an experienced mortgage professional to help you analyze your financing options, and make sure the closing goes smoothly. As a loan officer with Blueleaf Lending, I have the expertise and experience to get you the right mortgage, and to handle your transaction professionally. With my experience, and our rates and programs, you are sure to get the mortgage that is right for you. Please remember to get me involved early on in your home-buying process. Starting the Process not only gives you a better idea of what you can qualify for, it also gives you a stronger negotiation position when you find the home of your dreams.