How we did it
I was renting in Sydney, leasing out my spare room to try and save for a place. But buying on my own just wasn’t realistic.
I figured I was already sharing a home, so why not share the ownership too?
On Letterbox, I found someone in exactly the same position. Now Liam and I own an apartment together, 50/50 as joint residents. We’ve both got a place to call home without putting our lives on hold to get there.
The only thing we’d say is don’t avoid the awkward conversations.
What happens if someone wants out? How are we splitting costs? What do we both want long term? We talked through all of that before we bought, then had it put into a co-ownership agreement. It meant we both knew the plan from day one.
There’s 8 of us…
We didn’t want to choose between enjoying our twenties and getting into the property market.
Buying on our own still felt a long way off, so instead of waiting, the eight of us bought a home together.
We each own a 12.5% share. Four of us (two couples) live in the home and pay rent to the four of us who don’t. We’ve got a five-year plan, a co-ownership agreement, and a clear process if anyone wants to leave.
We joke that it’s a bit like a racehorse syndicate but for property. Looking back – have the awkward conversations early. It makes everything easier later.
Joe & Diane – Silent Equity Partners, Sunny Coast QLD
Like a lot of people our age, we’d worked hard, built up some savings and wanted to make sure they were going towards something meaningful.
We’d always planned to retire on the Sunshine Coast, but watching prices climb every year made us worry we’d eventually be priced out.
So instead of waiting, we became silent equity partners in a home, owning a 30% share.
We’re building towards a place we genuinely want to live one day. In the meantime, our share earns rental income, and we don’t have the day-to-day responsibilities of living in or managing the home. Knowing that we have helped a young couple to get a foot in the property market is something we’re really proud of.
On reflection…
The biggest shift for us was realising we didn’t have to wait until retirement – buying a share in a home gave us certainty. We knew our money was going towards somewhere we’d genuinely want to live one day, rather than simply hoping we’d still be able to afford it in the future.
It wasn’t the traditional path, but it was the right one for us.
Taylor, Chelsea, Abbey & Sara – Joint Residents, Brisbane QLD
I actually joined Letterbox looking for two other people to buy a place with.
But once we started comparing prices in our area, we realised the jump from a three-bedroom house to a five-bedroom house wasn’t nearly as much as we’d thought.
So we changed the plan.
Now there are five of us. Two of the girls own larger shares and have the ensuite rooms, while the rest of us own smaller shares.
We have a home we love, we’re building equity, and we can still afford to enjoy our twenties.
Stay open-minded. We started out thinking there was only one way to make it work, but once we looked at the numbers, everything changed.
We also realised ownership doesn’t have to be split equally. We found a setup that felt fair for everyone, and that’s what mattered most.
Samantha & Isaac – Resident Partners, Brisbane QLD
We loved Brisbane, but buying the whole property just wasn’t realistic.
Instead of waiting, we bought a 40% share alongside silent equity partners who plan to move here in a few years.
They’ve secured a home for their future.
We’ve got one to live in today.
Our biggest learning was recognising that people’s timelines don’t always line up—but sometimes that’s exactly what creates an opportunity.
Current opportunities
These examples are user-submitted and provided for general information only. Every property arrangement is different, and independent legal and financial advice should be considered before making any decisions.
