Are you young, single, and broke? Are you also dreaming of buying your first home, but feel overwhelmed financially? If you can’t face the mortgage payments alone, there is another option for you. A growing trend throughout North America is for friends or family members to purchase property together and become co-owners.

When you buy a home with a friend, you can either live together as roommates, or keep the property as an investment and rent it out. You also have a choice as to how you split up the equity—whether you keep things simple at 50/50 or one of you takes on more of the payments/ownership.

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