The cost of being single – and how friends are teaming up to beat it
Summary
Two friends, Leanne and Sarah, bought a house together to afford a home in an expensive area, sharing costs and responsibilities. Their partnership helped them avoid higher living expenses often faced by single people, sometimes called the "singles tax," and inspired a platform to connect singles for joint home buying.Key Facts
- Leanne and Sarah decided to buy a house together because owning a home alone was too expensive.
- They split mortgage payments based on their incomes and shared household bills through a joint account.
- Singles often pay more for rent, bills, and discounts because many offers are made for couples or groups.
- Around 36.8% of the UK population aged 16 and over had never been married or in a civil partnership in 2024.
- An estimated 8.6 million people lived alone in the UK in 2023, almost one-third of households.
- Buying with a friend helped Leanne and Sarah afford a property sooner and share costs like meals and bills.
- They sold the house after four years for a profit and used their equity for separate home purchases.
- The example led to the creation of Cucoon, a website that connects single people interested in co-buying homes.
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