Get to know them

Getting to know other possible co-buyers can be of great benefit and be very fun and interesting experience. A few ideas to help with this are..

Exchange some property details

That is after all what email and the internet is for, well at least partly. A quick and effective way to see if you have the same ideas is to pick some local estate agents in the area where you wish to co-buy, split them and have a browse through for ideal properties. Pick some you like and send them to other co-buyers for their comments. This also saves time looking while keeping a wider eye on the property market. To help with this, Co-Buyers has a list of all co-buyer friendly property companies in the UK within our property section. Search by postcode and you are away.

Make a date

No, not like that, but then you never actually know what’s round the corner. In this case though we mean make a date for a day out with one (or why not more) co-buyers and arrange to do some things that demonstrate the character of the co-buyer and the lifestyle they live, want or desire. It also allows for further discussion on areas such as the declaration of trust and co-habitation agreement. There are loads of different things you can do over the course of the day and best of all it can be a great day out. After all you will have some things in common as co-buyers by arranging to meet in the first place.

Meet for a coffee

Arrange to your fellow co-buyer(s) at their favourite café for a coffee to kick the day off. This will give you a chance to spend some time getting to know them a bit further and talk about the plans for the day and what each is looking for.

Do an activity

This could be rock climbing, a visit to a gallery, cookery course (now wouldn’t that be a winner) or anything really, just something to show maybe their hobbies or past times or how they like to spend their free time.

Visit some furniture or design shops

It’s our guess that not only do you have quite specific ideas about what you want your new pied a terre, house, cottage or loft to look like. We’re also guessing you know what you would like the inside to ideally look like. A great way to discuss tastes and ideas is to take a trip round some furniture shops. Looking through these not only allow you to establish the common ground in your own individual needs but also let’s you get a clearer idea of what is important to you.

Meet the family

By entering in to a shared ownership agreement and co-buying a property there is of course a need to get on with the other co-buyer(s). In addition it is as important to consider their family and friends as it is more than likely as co-buyers your social circles will overlap from time to time, not least the house warming.

Mum’s, dad’s, brothers, sisters

Arrange a visit to meet the family and the family home. Seeing where a person came from and of course how they were brought up is a great way to get to know your possible co-buyer better. Not least by a quick swizz through the old family album with mum. Pictures never lie, well not back in 1978

Friends, lovers and Lama’s

Why not get a group of your best friend friends together one night for some dinner and drinks. Not only is this an ideal way to again get to know possible co-buyers and their friends, but more importantly it allows you get to get a second opinion from your friends about your views. Included in this would of course be any significant other that they co-buyers may have, be that a partner, lover, son, daughter or pet lama. As the word significant suggests it’s a fair bet you will also be coming in to contact with them so et to know them now.

Visit their current abode

Looking at how someone lives can shed a great deal of light on how someone will live. A visit to their current lodgings is also a good idea. It then allows you to have a look just that bit further in to their lives and how your shared ownership would work as co-buyers. A good idea to kill two birds with one stone is to invite their friends, family or lama’s over to dinner and vice versa. Then you can at least work out who is best for cooking at your future dinner parties. Just don’t go to hard on them, paying rent can be a killer, especially saving for a deposit

Visit their work place

Like their current home, visiting where you potential co-buying partner works and having chat their work colleagues gives a further insight in to their life and life style. And you never know, you might make some good contacts from it also.

Rent for a while

If you are you are either currently renting, living at home or looking for a new place to live while exploring co-buying and shared ownership as being an option. If you then find the right co-buyer, while searching for the perfect property, why not rent somewhere together for a few months. This then gives you the opportunity to actually live with the person for a short while prior to committing fully.

Some details

As you will be entering into a shared ownership agreement and with a joint mortgage being taken out in both your names, don’t be embarrassed about getting a credit and criminal report on your potential co-buyers. Co-buying a property is as much a business venture a lifestyle change and should be treated as such. You would after all expect them to do the same to you surely.

A word of advice

Like everything in life when co-buying and meeting other co-buyers some caution should be taken. Meet in a public place or take a friend and tell people where you are going. Don’t disclose personal or financial details over and above what is required. If in doubt, co-buyers says don’t give it out.

But most of all don’t be put off. Shared ownership presents a clear and beneficial answer to making that next move on the property ladder. Buying a house can be a long and tough process. Co-buying allows you to share the pain (should it arrive) but most of all benefit from the gain.