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.

Why Co-Buy?

Financial:
- increase your financial muscle by putting your pennies 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! it helps if you have someone there for emotional support when the tough gets going.

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.

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

Who are Co-buyers?

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 & UK Holiday Homes    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.

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!

How it all began

Co-buywithme.co.uk, was the first to launch in May of 2006 from a basement in London, already it has 500 customers registered in Britain. The startup of the Australian service grabbed 200 clients in its first two weeks.
"It all started six months ago with me text-messaging Stephan and saying, 'I've got it: an on-line dating network for people who want to buy houses,' " Mr. Michaels said. "The trend has happened; co-buying is already starting to become mainstream in the United Kingdom." Theo Michaels, the 29-year-old business recruiter who started the site with his brother Stephan, 23, in May.

Even HSBC Bank in Britain recently unveiled a new mortgage product aimed specifically at co-buyers, Theo Michaels said in a phone interview from London.

The Canadian site was the most recent addition to the service. The Michaels brothers chose to expand into Canada because they saw the housing market here as following a pattern similar to that in Britain: Prices have escalated beyond the reach of many first-time buyers, who have become desperate enough to consider new ways of buying real estate.

Want to Get Started?

Find your Ontario Co-buyer

link to www.co-buywithme.ca

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