What is co-buying?

What is Co-Buying?

"Co-BuyWithMe"

def:    1. tool for individuals to find & contact other individuals for the
          purpose of buying a property together
          2. empowering co-buying groups to become greater than the sum
          of their individual parts

1.   What is Co-Buying?
2.   Why Co-Buy?
3.   Who Co-Buys?

1. WHAT IS CO-BUYING?

Co-Buying is when individuals legally group together and buy a property between 2, 3, 4 or more people known as 'Co-Buyers'. Simple as that!

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2. WHY CO-BUY?

- Financial:       - increase your financial muscle by buying together
                       - increased deposit amount
                       - increased mortgage amount due to 2 or more incomes
                         being taken into account
                       - reduction of costs as split between 2 or more Co-Buyers

- Emotional:      - buying a house can be stressful! So it helps if you can
                          share the workload with your other co-buyers

- Loneliness:     - many people have always lived in a busy house and
                         simply don't want to live alone, if they can't afford to buy                          on their own co-buying gives them another option.

- Investment:    - we've all heard not to put your eggs in one basket,
                          co-buying property as an investment allows the investor
                          to spread their investment in several properties with
                          other co-buyers rather than just one property owned
                          outright.
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3. WHO CO-BUYS?

Co-buyers can come in a variety of forms for a variety of reasons including:


First Time Buyers - clubbing together to increase their deposit amount and income multiples to get a larger borrowing amount from a mortgage provider and get that vital first foot on the expensive property ladder.

Private Investors - private individuals that want to start or increase their Buy-To-Let property portfolio with other co-buyers to share the cost and responsibility of their joint investment.

Property Developers - whom are looking for a co-buying business partner to share the cost, responsiblity, profits and possiby the work itself.

Overseas Buyers - individuals who want a champagne lifestyle on a lemonade budget! co-buyers group together to buy a holiday home be it for snow, surf or simply a country retreat. Often the costs can be shared and the property is used by all the co-buyers for a set period of time each year. With a goal of enjoying the property and earning an income through rentals and equity growth.

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To get a real feel for Co-Buying read some of our success stories about other co-buyers and their experiences or check out our advice section for lots more information!