Co-buying homes: People come together to stay in their NYC neighborhoods

NEW YORK (PIX11) -- New Yorkers are coming together to afford to buy their first homes. It’s called co-buying.

Nikki Merkerson calls herself a real estate matchmaker. She lives in Bedford-Stuyvesant, Brooklyn, and in her neighborhood housing has become expensive. She wants to empower New Yorkers to not just live here but also own in the communities they love.

Merkerson said New Yorkers can hack the system by coming together and buying together. Merkerson is the CEO of Pairgap, a real estate co-buying platform helping everyday New Yorkers afford homeownership by buying property together.

Merkerson said for 20 years she has helped people achieve their goals of home ownership. She gives potential buyers compatibility tests.

It’s her own story that makes this work a passion. After facing housing insecurity and moving 22 times before buying her first home in Brooklyn as a single mother, Merkerson said she wanted to create a solution to help others.

Tyannie Adams and her partner are one of the couples Merkerson is helping through the process. They are coming together with another family. Their plan is to buy a home in Jamaica, Queens, increasing their buying power.

Merkerson said she helps buyers through what she calls a “Real Estate Prenup” to protect the co-buyers during the process. Merkerson said creating a joint bank account with three to six months of expenses is a good idea and having an exit strategy.