HOUSING + HOMELESSNESS

Unmarried couples are buying more homes together than ever, report says

Sep 11, 2023, 5:00 PM

More unmarried couples are buying homes together. They make up 18% of all first-time homebuyers, ac...

More unmarried couples are buying homes together. They make up 18% of all first-time homebuyers, according to a new report. (Canva)

(Canva)

SALT LAKE CITY — A new report by the National Association of Realtors found that more unmarried couples are buying homes together.

According to the report, unmarried couples make up 18% of all first-time homebuyers for the first time. That’s up from just 4% in 1985.

Certified Financial Planner with Deseret Mutual Benefit Administrators Shane Stewart told KSL NewsRadio’s Dave and Dujanovic that this can be a risky move for homebuyers.

“It’s something that home buyers, if they’re going to go into a relationship like this, … they’re taking [a] risk,” he said. “The legal system, whether you like it or not, is really set up … for a married couple … Even if there’s a divorce, they can sort it … out a little easier.”

Stewart said for those who do choose to take the risk, it’s wise to look at buying the home as a business decision rather than something to do with the relationship.

“Joint ownership with anyone other than a spouse is full of pitfalls,” he said. “And, there are problems that can happen … So, setting it up more business-like, more corporation-like is always recommended.”

One pitfall to joint ownership is it opens up both people to becoming a liability, according to Stewart.

“Meaning if, you know, if two people move in and they buy a home together, then one gets sued, the other can be attached for and or be sued for all of their assets as well,” he said.

Dave & Dujanovic can be heard on weekdays from 9 a.m. to noon.

Keep reading:

We want to hear from you.

Have a story idea or tip? Send it to the KSL NewsRadio team here.

Housing + Homelessness

a box of food for food pantries...

Heather Peterson

Food pantries running low due to spike in demand

According to Feeding America, 316,980 people are facing hunger in Utah, and 93,050 are children.

2 days ago

FILE: A "For sale" sign in front of a home in North Salt Lake on Monday, Oct. 30, 2023....

Curt Gresseth

Utah home prices not likely to fall soon, says real-estate expert

Utah home prices are back up and so are interest rates -- and they will stay high says a Utah real-estate expert.

4 days ago

Homelessness grew by 12% in 2023 from last year, meaning 70,650 more people were unhoused....

Mariah Maynes

No one-size-fits-all solution to help those experiencing homelessness, expert says

Those experiencing homelessness in Utah often are presented with similar options, regardless of their situation. 

6 days ago

A for sale sign is pictured in North Salt Lake on Monday, Aug. 28, 2023. A new report on Utah’s e...

Don Brinkerhoff

Expert weighs in on home prices in Utah

Home prices in Utah are staying relatively flat however, fluctuating interest rates are pricing homebuyers out.

6 days ago

People experiencing homelessness walk in the street near a winter overflow shelter at St. Vincent d...

Peter Johnston

Code blue bill would open emergency beds at 18 degrees

The legislature is considering whether to raise the temperature at which emergency beds open up during code blue alerts. 

6 days ago

the front of a homeless shelter, budget plan utah...

Eric Cabrera

Salt Lake business leaders show support for governor’s budget plan to help homeless people in Utah

Leaders who approve of the budget plan said they had seen a huge difference in downtown Salt Lake over the past six months.

12 days ago

Sponsored Articles

Mother and cute toddler child in a little fancy wooden cottage, reading a book, drinking tea and en...

Visit Bear Lake

How to find the best winter lodging in Bear Lake, Utah

Winter lodging in Bear Lake can be more limited than in the summer, but with some careful planning you can easily book your next winter trip.

Happy family in winter clothing at the ski resort, winter time, watching at mountains in front of t...

Visit Bear Lake

Ski more for less: Affordable ski resorts near Bear Lake, Utah

Plan your perfect ski getaway in Bear Lake this winter, with pristine slopes, affordable tickets, and breathtaking scenery.

front of the Butch Cassidy museum with a man in a cowboy hat standing in the doorway...

Bear Lake Convention and Visitors Bureau

Looking Back: The History of Bear Lake

The history of Bear Lake is full of fascinating stories. At over 250,000 years old, the lake has seen generations of people visit its shores.

silhouette of a family looking over a lake with a bird in the top corner flying...

Bear Lake Convention and Visitors Bureau

8 Fun Activities To Do in Bear Lake Without Getting in the Water

Bear Lake offers plenty of activities for the whole family to enjoy without having to get in the water. Catch 8 of our favorite activities.

Wellsville Mountains in the spring with a pond in the foreground...

Wasatch Property Management

Advantages of Renting Over Owning a Home

Renting allows you to enjoy luxury amenities and low maintenance without the long-term commitment and responsibilities of owning a home.

Clouds over a red rock vista in Hurricane, Utah...

Wasatch Property Management

Why Southern Utah is a Retirement Paradise

Retirement in southern Utah offers plenty of cultural and recreational opportunities. Find out all that this region has to offer.

Unmarried couples are buying more homes together than ever, report says