It’s no big news flash to say that buying property is an expensive activity, whether you’re buying a home or an investment, but there’s a new buying trend that’s making it possible to enter the market easily and quickly.
In the past 12 months there has been an increasing number of people who are taking the opportunity to ‘buy with a friend’.
There’s now even a range of government grants and stamp duty exemptions that apply to people who want to take the path of co-ownership in order to purchase property.
Of course, buying with a friend or family member should be actioned carefully, however co-ownership offers huge financial benefits if you get it right.
Co-ownership can halve the amount of money normally required for a deposit, stamp duty and related purchasing costs will also be halved, and the workload of purchasing and owning the property can also be minimised – as long as you get your approach right to start with.
Taking the step co-ownership should be discussed with care, and one way to manage the agreement side of things is via Co-operty.
Co-operty, facilitates an independent, standardised co-ownership agreement that brings all parties together equally, outlining individual rights and obligations as well as defining how to deal with situations such as default, exiting and other key decision making factors co-owners should consider.
The agreement is developed and produced via an easy-to-use digital app that takes the complexity out of implementing the co-ownership arrangement by supporting each buyer through a digital process, step by step.
How it works. . .
FOR MORE INFORMATION – Please visit the Co-operty website – https://co-operty.com/
Author: Debra Beck-Mewing
Debra Beck-Mewing is the Editor of Property Portfolio Magazine and CEO of The Property Frontline. With over 20 years of experience buying property across Australia, Debra is a skilled property strategist and buyers agent known for uncovering tailored opportunities — from family homes to multi-use investments.
She has deep expertise in advanced strategies including renovations, granny flats, sub-division, and development. A Qualified Property Investment Advisor (QPIA®), licensed real estate agent, and holder of a Bachelor of Commerce and Master of Business, Debra combines strategic insight with hands-on experience.
Debra is the creator of the Property Smart Track System™ – a professional property buying system that enables buyers to select, assess and buy property independently in today’s market. She also leads Buy Like A Genius™, a premium end-to-end buyers’ agency service for busy professionals seeking expert property acquisition without the stress.
As a passionate advocate for greater transparency in the property and wealth industries, Debra is a sought-after speaker, author, podcast host, and participates on numerous committees including the Property Owners’ Association.
