Homebuyers Find New Ways to Buy Homes: How Americans Are Adapting in 2026

Buying a home has become more challenging over the past several years, but many Americans are proving they are willing to adapt rather than give up on homeownership. Instead of waiting indefinitely for lower mortgage rates or falling home prices, buyers are finding creative ways to make purchasing a home possible.

A new nationwide survey shows that many prospective homeowners are taking on second jobs, buying homes with friends or family members, receiving financial assistance from parents, relocating to more affordable states, and planning to refinance in the future.

These changing strategies highlight how the American Dream is evolving as buyers adjust to a housing market shaped by elevated mortgage rates, higher home prices, and affordability challenges.

More Buyers Are Accepting Higher Mortgage Rates

For much of the past few years, many prospective buyers postponed home purchases while hoping mortgage rates would return to the historic lows experienced during the pandemic.

That attitude is beginning to change.

According to the latest survey, 62% of prospective homebuyers say they are waiting for mortgage rates to decline before purchasing a home.

While that remains a majority, it represents a significant drop from 80% one year earlier.

The shift suggests many buyers are gradually accepting that mortgage rates above 6% may remain part of the housing market for the foreseeable future.

Instead of delaying their plans indefinitely, many households are adjusting their financial strategies to move forward.

Side Jobs Are Helping Buyers Qualify

One of the most noticeable trends involves buyers increasing their income.

The survey found that 57% of prospective homebuyers have taken on additional work or started a side business to help qualify for a larger mortgage or manage higher monthly housing payments.

Examples include:

• Freelance work
• Consulting
• Ride-sharing
• Online businesses
• Part-time employment
• Seasonal work

For many households, increasing income has become one of the most practical ways to overcome higher mortgage rates without delaying homeownership.

Additional earnings may also improve debt-to-income ratios, making it easier to qualify for financing.

Co-Buying Is Becoming More Common

Another growing trend is purchasing a home with someone other than a spouse or romantic partner.

The survey found that 37% of buyers are considering purchasing a home jointly with another person to reduce housing costs.

This includes buying with:

• Friends
• Parents
• Siblings
• Adult children

Among these arrangements:

• 15% plan to purchase with a friend.
• 12% intend to buy with a parent.
• 9% expect to purchase with a sibling.

Sharing ownership allows buyers to divide down payments, mortgage payments, property taxes, insurance, and other housing expenses.

As affordability pressures continue, co-buying is becoming an increasingly practical solution for many first-time buyers.

Legal Planning Is Essential for Co-Buyers

While co-buying can improve affordability, it also creates additional legal and financial responsibilities.

Unlike married couples, unrelated buyers should clearly establish ownership rights, payment responsibilities, and procedures for future property sales before purchasing a home together.

Important topics to address include:

• Ownership percentages
• Mortgage payment responsibilities
• Maintenance costs
• Exit strategies if one owner wants to sell
• Dispute resolution
• Inheritance considerations

Working with both a mortgage professional and a real estate attorney can help ensure every party understands their obligations and that legal agreements are properly documented.

Clear agreements become especially important because every borrower listed on the mortgage remains responsible for loan payments, even if another owner stops contributing.

Family Financial Support Continues to Grow

Many buyers are also relying on family assistance to purchase a home.

The survey found that 11% of buyers receive most of their down payment from parents or other family members.

This trend, often referred to as assistance from the “Bank of Mom and Dad,” has become increasingly common as down payment requirements have grown alongside rising home prices.

Family support can help buyers:

• Reach down payment goals sooner
• Reduce mortgage borrowing
• Avoid private mortgage insurance in some cases
• Improve loan qualification

While savings remain the primary funding source for most buyers, financial gifts from relatives continue to play an important role for many first-time homeowners.

Personal Savings Remain the Main Down Payment Source

Despite growing family assistance, most buyers continue relying on their own savings.

The survey found that 52% of homebuyers expect to use personal savings for the majority of their down payment.

At the same time, some buyers are exploring additional funding sources.

Among Baby Boomers, approximately 20% reported planning to use retirement savings to help finance a home purchase.

Each financing approach carries different financial considerations, making careful planning essential before withdrawing retirement assets or accepting gifted funds.

Buyers Are Looking Beyond Their Current State

Relocation remains another strategy for improving affordability.

Approximately 22% of prospective buyers plan to move to another state before purchasing a home.

Many buyers are leaving higher-cost housing markets in search of lower living expenses, larger homes, or stronger employment opportunities.

Among those relocating, the most common departure states include:

• New York
• California
• Texas

Popular destination states include:

• Florida
• New York
• California

When asked where they would most like to live regardless of current plans, respondents most frequently selected:

• Florida
• California
• Hawaii

Florida continues attracting buyers because of its warm climate, job growth, retirement appeal, and lack of state income tax, despite rising homeowners insurance costs.

Fewer Buyers Are Waiting on the Sidelines

The survey also suggests that today’s buyers are becoming more decisive.

When similar surveys were conducted in previous years:

• 2023: 66% planned to wait for lower mortgage rates.
• 2024: 67% said the same.
• 2025: That number increased sharply to 80%.

In 2026, however, the percentage dropped back to 62%.

This change reflects growing acceptance that today’s mortgage rate environment may persist longer than many originally expected.

Instead of trying to perfectly time the market, buyers are increasingly focusing on purchasing when their personal finances allow.

Some Buyers Regret Waiting

Among buyers who postponed purchasing over the past year while waiting for lower interest rates, 41% now say they regret delaying their home purchase.

Many continued to face rising home prices, higher rents, or missed opportunities while waiting for mortgage rates to decline.

This experience is encouraging some buyers to reconsider whether waiting remains the best strategy.

Although financing costs remain elevated, improving housing inventory and more balanced market conditions are creating additional opportunities in many local markets.

Many Buyers Still Plan to Refinance Later

Even though fewer buyers are delaying purchases, refinancing remains part of many homeownership plans.

The survey found that 68% of buyers expect to refinance their mortgage if interest rates decline in the future.

That figure is slightly below last year’s 73%, indicating buyers are becoming somewhat less dependent on the “buy now, refinance later” strategy.

Nevertheless, refinancing continues to represent an important long-term financial option if borrowing costs improve over the coming years.

What This Means for the Housing Market

Today’s buyers are demonstrating remarkable flexibility in response to changing market conditions.

Rather than abandoning homeownership goals, many households are:

• Increasing income through additional work
• Purchasing homes jointly
• Accepting family financial assistance
• Relocating to more affordable markets
• Adjusting expectations regarding mortgage rates
• Planning future refinancing opportunities

These changing behaviors illustrate how the housing market continues to evolve alongside broader economic conditions.

Looking Ahead

Homeownership remains one of the most important financial goals for many Americans, even as affordability challenges persist.

The latest survey shows buyers are increasingly adapting rather than waiting for ideal market conditions that may not return soon. Creative financing strategies, shared ownership, family assistance, and geographic flexibility are helping many households continue pursuing homeownership despite higher mortgage rates.

As inventory improves and buyers gain more negotiating power throughout the remainder of 2026, those who prepare financially, explore available mortgage options, and remain flexible may find more opportunities to achieve their homeownership goals in today’s changing housing market. For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group.