Buying a home with others is not such a crazy concept in the current property climate. For millennials through to retirees, the idea of pooling financial resources to share a home together has become more appealing since the advent of the Tenant in Common Exchange (ticX).
ticX is a trading platform for shared ownership interests in real estate.
If you’re considering buying a house with a partner but worried the relationship won’t last as long as the property? Don’t hesitate, ticX will provide you with the platform to sell your ownership share.
ticX members provide a safe uncomplicated way to sell and invest securely in real estate, overcoming affordability issues through shared ownership.
‘Tenants in Common’ is often used for inheritance Tax planning and can also be used to prevent having to sell your home if you need to go into long-term care. And is also a way for couples to protect their share in case of separation or divorce. Should a tenant in common co-owner wish to sell their ownership share it can be listed for sale on the Tenant in Common Exchange.
These days, not everybody wants to, needs to, or can even afford to, buy a property outright on their own.
Watch video “Reinventing Retirement”.
A matching service.
ticX also works as a type of ‘matching service’ where potential co-owners can identify a property they would like to co-own and if successfully purchased (by two or more co-owners) the property then remains listed on the ticX enabling co-owners to monitor the property as well as providing an exit pathway should any co-owner wish to sell their share in the future.
Reference: Channel 10’s mini series “Five Bedrooms“
Five Bedrooms tells the story of five different people at different times of their lives. They bond after they found themselves seated together at the singles table, at a wedding. After a few too many drinks, the solution to all of their problems seems to be buying a house together. A five bedroom house.