More than 1/3 people would consider buying a property with a friend

Moving into a home with a partner or on your own can often be a daunting task. There is always the possibility that relationships may end and you will be left with a number of issues regarding your home. Maybe because of this, over a third (38%) of the UK would consider buying a house with their friends according to an online survey which was carried out by online furniture retailer Furniture Choice.

One of the largest motives for moving in with a friend is that many find themselves unable to afford a house or apartment on their own. Splitting the cost makes it a lot easier to both afford rent and manage the everyday costs of running a house or apartment – and the same applies to buying a house too.

In fact, 54% of people admit to not being able to afford to run an apartment on their own and 42% say they do not currently have a partner they could live with.

35% of people would rather live with a friend rather than on their own, but would still like to have the stability of owning their own home. Of course, the downside of sharing comes with the fact that you are not the only person who owns the property.

Those who are choosing to live with their friends often want the relationship to last. 33% of those who were interviewed admitted to wanting to know their friend for at least three years before making the decision to move in with them. This lengthy period of friendship will show that you have an elevated level of trust for your friend and that you are less than likely to suddenly decide to pack up and leave. It also decreased the chances of fallouts and arguments which could potentially affect your friendship.

Tom Obbard, who is the creative director at Furniture Choice suggested that: “Adults nowadays are much more relaxed about the relationship between having a family and owning a house. High prices mean it’s difficult to buy alone and it’s refreshing to see individuals turn to their friends in order to get on the property ladder.”

Certainly, there are advantages to choosing to live with a friend. Quite often, you have known them for a significantly long amount of time, so will know what each other likes and dislikes. The split costs of living mean you can either set money aside towards your own place one day or enjoy the place you have a lot more than you usually would have been able too.

Would you consider buying a property with a friend?