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Pros

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There is a better chance of home loan approval - Having two or more people on the home loan application can facilitate the process and increase the chances of being approved as two incomes are generally better than one.

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Split expenses - Buying a property with someone else means you’re splitting all the costs, making it easier and more affordable

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Cons

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Unpredictable circumstances - A fall out with a family or friend is not uncommon, so it is important to remember to separate business from pleasure and not let personal issues get in the way of your property ties.

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Selling - Unforeseen events can have you or the other party/s wanting to sell up. You need to make sure that you have a strong relationship with the person you are buying with.

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When entering into any type of financial agreement with family or friends, it’s wise to get a co-ownership agreement drafted by your solicitor to avoid any disputes.