Unmarried couples say 'I do' to a different long-term commitment: Buying a home together
Ryan McNichol, 31, and Courtney McNichol, 29, have been together for five years. They tied the knot last April and will soon celebrate their first wedding anniversary. But before they said 'I do,' they made another legal commitment: They bought a house together.
“We knew we loved each other, enjoyed each other’s company, and wanted to spend time together, so it just made sense,” Courtney McNichol said (and Ryan McNichol agreed) about the purchase of their home in Madison Heights, Michigan in 2022 while still dating.
They are part of a growing trend of couples who prioritized financial stability over marriage, opting for keys over rings.
"It's not necessarily a brand-new trend, but we're seeing more of it, in part because of affordability and the cost of buying a home continues to go up,” said Jeanette Schneider, president and regional director of Re/Max of Southeastern Michigan.
In 2023, approximately 555,000 unmarried couples nationally reported purchasing a home within the past year, according to a Detroit Free Press analysis of Census Bureau data. This marks a 46% increase from a decade earlier when just under 381,000 couples made similar purchases.
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The trend did dip a bit last year. According to the National Association of Realtors Profile of Home Buyers and Sellers 2024, married couples accounted for about 62% of all buyers, while single females made up about 20% and single males about 8%. The share of unmarried couples buying homes together decreased slightly to about 6% in 2024.
Rising housing costs and strained finances are contributing to this decadelong trend, with more couples combining resources to purchase homes together.
A recent report from Realcomp, a multiple listing service that tracks real estate data, shows a 9.2% increase in the median sales price of a home, rising from $228,000 in January last year to $249,000 this year. The data excludes private sales.
Meanwhile, the U.S. inflation rate rose by 3% over the 12 months ending in January.
Finding a place to call home
The McNichols turned to Rich Rubba of Real Estate One to navigate the competitive housing market.
The search was challenging. It took nearly two years to find the right home after looking at properties in surrounding areas.
“It was brutal,” Courtney McNichol said, recalling how homes in their price range were often bought with cash or sold for thousands over the asking price.
The couple toured more than 10 homes and faced multiple bidding wars before finally securing their current house.
Brian Cuddington, 45, and his girlfriend, Ann, are taking a similar path. The couple, together for 10 years, are preparing to buy a home together as they move back to Michigan from Florida.
"This is our first home buying together," Cuddington said.
While they're making a long-term financial commitment, marriage isn’t currently in their immediate plans, he added.
Joe Bigelman from John Adams Mortgage says he regularly sees unmarried couples buying homes together.
“This is a big investment, and couples need to think through and talk about uncomfortable situations that could arise. I always recommend, speaking to an attorney.”
Likewise, Schneider, of Re/Max of Southeastern Michigan, has advice for both unmarried couples and married couples purchasing a home together.
1. Have open financial discussions
Transparency is crucial. Discuss income, debts, credit scores and financial goals upfront to prevent surprises during the home-buying process.
2. Create a cohabitation agreement
A real estate attorney can draft a legally binding agreement outlining:
Ownership percentages.
Expense responsibilities.
Contingency plans in case of breakups.
3. Determine how the property will be titled
The way a home is titled impacts ownership rights:
Joint tenancy: Equal ownership with the right of survivorship, meaning the home automatically transfers to the surviving joint tenant.
Tenants in common: Allows for unequal ownership shares, useful when partners contribute different amounts toward the down payment or mortgage.
Sole ownership: Only one person is listed on the deed.
4. Plan for 'what ifs'
Consider various situations, such as:
A partner relocating
Variations in income
Breakups, and how they could affect the jointly owned property.
5. Understand mortgage options
Develop a mortgage application strategy that considers each partner’s credit score, employment status and income. Generally, the partner with the stronger credit score will qualify for the best mortgage rate.
As home prices continue to rise, more couples are reshuffling the traditional timeline of life milestones. While marriage remains a goal for many, some are choosing to build financial security first.
For these couples, love isn’t just about romance — it’s about investing in a future together, one mortgage at a time.
The McNichol family couldn’t be happier.
“We love the house — it’s super cute and perfect for us and our dog, Royce,” Courtney McNichol said.
Brendel Hightower writes about real estate and other topics for the Detroit Free Press. Contact her at bhightower@freepress.com. Support local journalism: Subscribe to the Detroit Free Press.
This story was updated to add a video.
This article originally appeared on Detroit Free Press: Why unmarried couples buy homes together: 5 things to consider
