To drive it home (sorry, we couldn't help ourselves!), here's a real-life case study on co-buying and co-ownership that involves our co-founder Pam Hughes.
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Details:
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👤 Co-buyer: Pam Hughes, CoBuy co-founder & COO

👥 Group Type: Relatives, including married couples

🏠 Property Type: Second home (cabin)

📍Geography: Boundary Waters, Minnesota

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"Personally, my immediate family bought in to a cabin decades ago with two of my husband's siblings. The property had been in my husband's family since childhood. There was no mortgage, but the cabin is old and in a place where the weather takes a toll on the property. We didn't think much about the commitment when we joined in. We were young with kids who would love growing up with summer visits to the 'Lake House.'

Today, we are reverse engineering into a co-ownership arrangement. The place needs to be razed and rebuilt, or so my husband and I think. One of the siblings wants nothing about the cabin changed. We no longer enjoy visiting since the place does not meet our safety and comfort standards. Nonetheless, we are financially obligated to support the cabin's care and upkeep. While the expenditure is small, it would pay for a nice vacation elsewhere each year. The bottom line is that it's harder to change things after the fact and back into an agreement. Had we built a plan in advance, we would have created a different experience."

- Pam Hughes, CoBuy co-founder & COO

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