Two friends in their 30s specialized in selling real estate to younger generations after they individually bought their first homes before partnering up in 2019. Stephanie Douglass, 35, and Kristina Modares, 34, want young women to feel empowered by buying properties before marrying.
New generation, new rules
Douglass and Modares advise Millennials and Gen Z to prioritize buying homes before settling down. Douglass, from Austin, Texas, says she heard many women in their 20s waiting to purchase homes after getting married. So, the goal of two friends is to make it possible for young women to become homeowners regardless of their marital status.
Home, not a dream house
Modares advised that the first home does not have to be the one from your dreams. The two friends, who connected on Instagram years ago, have already bought their first properties with other friends before buying four more they share.
Starting young
Modares bought her first home at 25. She shared the expenses of the first property in San Antonio with her friend. The friends spent $130k on it and sold it for $200k. While she knows it is shocking for people to buy homes with friends, she believes it will become standard in the upcoming years.
Investment home
The Lone Star’s real estate moguls told The New York Post that they did not come from wealthy families, so they wanted to create communities of kind women while teaching them that their first home is an investment. Douglass was an elementary school teacher before obtaining a real estate license in 2015.
Tips on social media
The women share their tips on social media, and many videos have gone viral. They also primarily advise younger women on how to get into real estate since they were met with a lack of resources while searching for their first properties.
The rise of buying homes with loved ones
Modares and Douglass run their business with the slogan, “Houses before spouses.” According to the JW Surety Bonds survey, this is a rising trend among younger people. The survey found that almost 15% of Americans own a home with a non-romantic partner.
It is not all about the money
Around 25% of those who bought homes with non-romantic partners said that money was the driving force behind their decision. Others bought homes with siblings, parents, or buddies. Millennials and Gen Z started this trend, but it has the potential to expand to older generations.
The co-buying could influence boomers
Almost a million Americans over 65 live with a roommate, double the number in 2006. Apart from obvious financial benefits, others include sharing a caregiver and having company while not feeling like a burden to your family.
Doing things out of order
A 2021 study from Pew Research found that 44% of adults who are not parents were not planning on having children. Many with children do not intend to get married, with the number of those against the marriage steadily increasing. While there is judgment regarding doing things in previously accepted order, it is slowly fading away.
Single women have more homes than single men
Recent data found that single women own 10.95 million homes, while single men own 8.24 million. In other words, single women make up 12.93% of America’s housing stock, while men make up 10.22%. This data proves that Douglass and Modares chose the right path at the right time.
With or without a spouse
Modares believes buying a home with a non-romantic partner, a sister, or a friend is no different from buying a property with a spouse. She thinks home ownership is a viable financial option regardless of marital status.
Friends over siblings
JW Surety Bonds survey additionally found that 61% of people prefer buying homes with friends over siblings, compared to 57%. Parents are the third option, while the extended family is placed fourth. Coworkers and grandparents are the least likely coowners.
Kate Smith, a self-proclaimed word nerd who relishes the power of language to inform, entertain, and inspire. Kate's passion for sharing knowledge and sparking meaningful conversations fuels her every word.