Should You Buy Real Estate with Someone You Aren’t Married To?

Buying real estate is one of the biggest financial decisions most people ever make. It’s a move that involves significant money, long-term commitment, and a lot of trust. So what happens when you're ready to buy a home—but you're not married to the person you want to buy it with?

Maybe it’s a long-term partner, a sibling, a friend, or even a business associate. While it’s not uncommon for unmarried individuals to co-own property, it’s not a decision to make lightly. Here’s what you should consider before signing on the dotted line.

1. Why Are You Buying Together?

Start with your motivations. Are you planning to live together? Is this an investment? Is it a stepping stone toward marriage or simply a smart financial partnership? Being clear about your reasons helps define expectations and avoid misunderstandings.

2. Legal Protections Are Different

When married couples buy property, the law often provides automatic protections and a default framework for ownership, inheritance, and asset division. That’s not the case for unmarried buyers.

You’ll need to be intentional about:

• How you take title (e.g., joint tenancy, tenants in common)

• What happens if one of you wants out

• How you’ll split equity, expenses, and liabilities

Hiring an attorney to draft a co-ownership agreement is highly recommended. It should address contributions, ownership percentages, buyout terms, dispute resolution, and what happens in case of death or separation.

3. Finances Get Tangled

Applying for a mortgage jointly means both your credit scores, debt-to-income ratios, and incomes are on the line. If one person has bad credit or inconsistent income, it could affect your loan terms—or even your ability to qualify at all.

You’ll also want to discuss:

• How monthly costs (mortgage, taxes, repairs) will be split

• What happens if one party can’t pay their share

• Who gets tax deductions (especially if you itemize mortgage interest)

4. Breaking Up Is Hard to Do

It’s not just romantic partners who break up. Friendships can fade, sibling relationships can get strained, and business partnerships can sour. If things go sideways, owning property together can make a clean split nearly impossible—unless you’ve planned for it.

Without a clear exit strategy, you could end up in court over ownership rights, sale of the property, or proceeds from the home.

5. Selling or Moving Gets Complicated

If one person wants to move out or sell and the other doesn’t, who gets their way? What if one person wants to rent it out and the other doesn’t? Unmarried co-ownership often means more negotiation and fewer automatic rights. A written agreement can outline these contingencies in advance.

6. Think Long-Term

People’s lives and priorities change. Marriage, career moves, children, or personal differences can affect how well a joint ownership arrangement works over time. Buying a house together ties your financial futures—and potentially your credit scores—together for years.

Final Thoughts

Buying real estate with someone you aren’t married to isn’t inherently a bad idea—it can be a smart financial move or a great way to get into the housing market sooner. But it requires more planning, more documentation, and more open communication than many people realize.

If you're going to do it, don’t just trust good intentions. Trust a lawyer, trust a contract, and trust clear financial planning. A little preparation now can save you a mountain of stress—and money—later.