Borrower Beware: Couples Buying Homes Out of Wedlock Should Be Cautious

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Borrower Beware: Couples Buying Homes Out of Wedlock Should Be Cautious

Mar, 23rd 2017

Couples who want to buy a home before marriage should proceed with caution

More couples are choosing to advance their relationships with mortgages before marriage.

The number of unmarried young couples (between the ages of 24 and 35) buying homes has risen to 15% from 11% in 2005, according to research from real estate website Zillow, an increase of 36%. Many millennials face debilitating financial hurdles, such as student loan debt, that could delay homebuying, but first-time home buyers are still expected to drive existing-home sales this year. Some millennials choose to continue living with their parents until they’re ready to buy a home, and they’re even skipping the “starter home” altogether for a bigger house.

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