Four's Company: Co-Buying Can Make Denver Housing Affordable

arguing that the city and state governments aren't doing enough to protect those who rent, LiveWork Denver's mission is particularly important. costs somewhere between $600,000 and $700,000, Erger notes, whiile the 2022 metro median income for a single-person household was $82,100.

In addition to the mortgage, they'll all sign a co-buying agreement that covers everything from what would happen if one of them wanted to rent out their unit in the fourplex to what would happen if one of them dies. It’s similar to entering into a marriage with a pre-nup: All of the buyers are on the title and the mortgage and were able to be approved at the same interest rate, though Erger says there are workarounds for cases where not everyone in a group can get the same rate without help.“For me, this being my first time buying a home, it’s a big, intimidating process, and having people who have gone through it before has been really helpful,” says Jacobsen.

LiveWork Denver — which comprises Erger, Laura Cowperthwaite, Sarah Wells and Adam Gordon — offers classes to help people through the process of buying homes, with a goal of making home ownership more accessible to more people, especially in a city like Denver. On July 12, it will host a freeclass, and, on July 29, a Co-Buyer Speed Dating event to introduce people interested in co-buying to others who might be a good fit.

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