As home prices and living costs rise, more buyers in Arlington Heights are choosing to team up—buying homes with friends, siblings, parents, or even long-term roommates. It's called co-buying, and it's an innovative path to homeownership that’s gaining momentum across the suburbs.

If you’re considering buying a home with someone else, here are the key insights you need before making this powerful move.

1. Define the Type of Ownership—and Put It in Writing

One of the first things to decide is how the home will be owned legally. Will it be joint tenancy, where ownership is equal and includes rights of survivorship? Or tenancy in common, which allows owners to hold unequal shares and pass on their portion of the property to heirs?

This may sound like fine print, but it’s a critical decision. Putting ownership terms into a written co-ownership agreement can help avoid misunderstandings later. Think of it as your roadmap—covering who pays what, how decisions are made, and what happens if someone wants out.

2. Choose a Loan That Works for Everyone

Not all mortgage programs are the same when it comes to multiple borrowers. Some loans allow multiple incomes to qualify, while others may have stricter rules about who’s on the title or how credit scores are weighed.

Working with a lender experienced in multi-buyer transactions is essential. The right loan product—whether it's conventional, FHA, or another specialized option—can help you maximize your purchasing power while keeping everyone protected.

3. Agree on the “What-Ifs” Upfront

Co-buying is a great strategy, but life changes—jobs shift, relationships evolve, people move. That’s why a clear agreement should include not just day-to-day maintenance and payment responsibilities, but also exit plans.

What happens if one buyer wants to sell and the others don’t? How will you handle refinancing, repairs, or renting out rooms? Talking through these possibilities upfront can save stress later—and strengthen your investment together.

4. You Don’t Have to Be Related to Buy Together

A common misconception is that co-buyers must be family. Not true. Friends, domestic partners, or even long-time roommates can purchase together—as long as there’s a shared financial commitment.

With proper planning, co-buying can offer a faster path to equity, better neighborhoods, and long-term financial stability—especially in desirable areas like Arlington Heights, where demand is high and the lifestyle is rich with opportunity.

Final Thoughts: Co-Buying in Arlington Heights Could Be Your Smartest Move Yet

Whether you're navigating today’s real estate market as a first-time buyer or looking to make a strategic investment with someone you trust, co-buying offers an exciting opportunity.

At Helen Oliveri Real Estate, we’ve helped countless buyers in Arlington Heights and throughout the Chicago suburbs make smart, well-informed decisions about co-ownership. We’ll guide you through every step—from loan options to legal protections—so you can move forward with confidence.

📩 Ready to explore co-buying in Arlington Heights? Let’s talk.