Alternative homeownership: Buying with family or friends

Buying a home with friends or family is an increasingly popular way for Kiwis to enter the property market by pooling incomes and sharing costs. While this reduces financial barriers, it also carries risks like joint liability for the entire mortgage.

A formal Property Sharing Agreement is essential to outline contributions, exit strategies, and how to handle disputes. This is typically structured as a "tenancy in common". Not all banks lend to groups, so using a mortgage broker is recommended.