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Key considerations for unwed couples buying a home
Key considerations for unwed couples buying a home
  MIAMI – Jan. 20, 2014 – Married couples represent the majority of homebuyers, but more couples are teaming up to buy a home before they get hitched. If they ever do.
Data from the National Association of Realtors show that, on average, married couples accounted for 61.6 percent all homebuyers from 2001 to 2011. By comparison, unmarried couples made up an average 7.5 percent.
Although still a small slice of homebuyers, some unwed couples see positives to buying a home together before getting married.
Teresa Hung, a customs broker in Baltimore, decided to put off getting married in 2012. Instead she chose to buy a home with her boyfriend, James Woody, a retail executive. The couple wanted to take advantage of still-affordable home prices – rather than splurge on a wedding and continue paying rent for months or years.
“I did want the wedding and all that,” said Hung, 29. “It definitely wasn’t an easy decision.”
Here are some tips unwed couples should follow when they commit to buying a home:
1. Swap financial history
Before considering buying a home with your significant other, share all of your key financial statements. That includes bank accounts, ... more

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