Alternative Solutions for Home Ownership

By Sandra Kilgore, GRI, ABR, SFR –

With housing inventory gradually increasing, interest rates remaining elevated, and home prices still out of reach for many buyers, it may be time to consider alternative paths to homeownership.

Fortunately, creative ownership structures—such as shared ownership—can open the door to the market and help buyers start building equity sooner. Exploring different ownership strategies can reveal opportunities you might not have considered.

Ways to Hold Title

One of the most common methods of co-ownership is joint tenancy. Often used between spouses or partners, this arrangement gives each owner an equal, undivided interest in the property. If one owner passes away, their share automatically transfers to the surviving co-owner through the right of survivorship.

Shared Ownership as Tenants in Common

Another flexible approach is shared ownership as tenants in common, which allows multiple individuals to purchase property together by pooling their resources. This can make homeownership more accessible and often more affordable. Unlike joint tenancy, tenants in common may hold unequal shares that reflect each person’s financial contribution.

Each co-owner also retains the right to sell, transfer, or will their share independently—offering both flexibility and control. For buyers seeking affordability without sacrificing individual ownership rights, this structure can be an attractive solution.

Consider Professional Guidance

While shared ownership can offer practical and financial benefits, it’s essential to understand the legal and long-term implications. Consulting a real estate attorney or financial advisor ensures that the ownership arrangement fits your needs and protects everyone involved.

If you’d like to explore whether shared ownership could be the right approach for you, please don’t hesitate to give me a call.

Kilgore & Associates Real Estate
Sandra Kilgore GRI, ABR, SFR
Cell: 954-540-5593, [email protected]
AshevilleKARE.com

Asheville Kare Property Management
828-333-7101, [email protected]
AshevilleKAREpm.com