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A non-traditional trend to buying a home is gaining momentum in the Valley

Valley friends take an unconventional route by buying a home together and see success.

PHOENIX — It’s a path that’s not traditional and it’s gaining speed in the housing market. 

A recent Zillow study suggests more prospective buyers are leaning towards buying a home with a friend or relative, someone who is not a spouse or partner. 

The survey found 19% of prospective home buyers planned to buy with a friend or relative in the next 12 months. Housing affordability and qualifying for a mortgage were cited as the top reasons for taking this path.

The trend is happening as the median selling price for homes in Maricopa County is about $477,000, a nearly 18% increase in the last year.

Alexandria Jones found that affording a home of her own at just 24 years old was easier to accomplish when buying with a friend.

>> VERSIÓN EN ESPAÑOL: Una manera no tradicional para comprar casa esta de moda en el valle

“Doing it as young as you can, I know it’s scary," Jones said. "We used a down payment assistance program to start. The monthly payment was very scary to us. The out-of-pocket was very scary to us. But we wouldn’t have had this trajectory of where we are today without just doing it.”

While Jones has had success, she recommended writing down all of the terms for a home-buying deal, because it’s easier to sort out if there are any issues that come up along the way. Jones also advised taking this step with a trustworthy person and having an exit strategy planned for when the time comes to sell. 

Through her positive experience, Jones added she would do it all over again.

When buying with a friend, Zillow recommended extra planning for accountability in case plans change. Interested parties can consult with an attorney before taking the homeownership leap, and buyers should make sure a good agent is involved who knows zoning issues and restrictions about how the home can be used down the road.


The Valley is growing but at what cost? All this week at  6 p.m. and 10 p.m on 12News. 

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