1. Agree What the Property Is For

Start with the purpose, because the rest follows from it. Talk through:

• Growth or cash flow. A growth-focused property usually costs more to hold in the early years. Is that acceptable to both of you?
• How long you will hold it. Property tends to reward holding for many years, so agree whether you are in it for ten years or two.
• What success looks like. Pick a few measures for year five and year ten, such as equity, rent, or a loan balance.
• How it fits with your other plans. Buying a home, having children, or changing jobs can all change what you can carry.
• How much risk you are comfortable with. This is where couples most often differ, so ask each person to say it out loud.

Write the answers down. A one-page summary gives you something to return to when the market or your feelings move.

‍

2. Run the Numbers Together

Disagreements are easier to resolve when you look at the same figures. Use a worked example of the holding costs, not a general sense of the cost.

In our example of a $600,000 investment property with a $480,000 interest-only loan at 6.7%, the shortfall between rent and costs is about $349 a week. If rates rose by 2 percentage points, it would be about $534 a week. Our blog on the holding costs of an investment property shows how to build the same table for your own purchase.

Then ask each other:

• What is the most per week we would be comfortable adding to our housing costs?
• Could we both live with a higher number?
• Could we carry it on one income if we had to?

‍

3. Agree a Shared Buffer

A buffer protects the relationship as much as the finances. Money worries cause stress when there is no plan for them.

At least three to six months of repayments across all your properties is a common starting point. Agree:

• Where it sits. An offset account keeps it available while it reduces interest.
• Who tops it up, and how much.
• What triggers using it, such as a long vacancy or a repair above a set amount.
• What happens if one income stops. This is the single-income test, and it is worth running before you buy.

‍

4. Understand How Lenders Treat Couples

Lenders assess both of you together.

• Your incomes are combined, which can lift capacity, particularly when both are stable.
• Both sets of debts and commitments count. One partner’s credit card limits, buy now pay later accounts, and loans reduce what you can borrow together.
• Both of you are liable for the whole loan. If one partner cannot pay, the lender can pursue either person for the full amount, not just half.
• Both credit histories matter. A problem on one file can affect the outcome.
• Income type matters. Casual, self-employed, or recent parental leave income may be treated differently by different lenders.

Check out this what you can realistically borrow blog to  understand how lenders assess you. A broker can run both of your positions across several lenders. Search Property works with Refyne Loans, an expert-led mortgage brokerage dedicated to helping Australians make confident, informed financial decisions.

‍

5. Decide How You Will Hold the Property

This is the part to settle with an accountant and a lawyer before you sign. Here is the general picture.

Joint tenants. You each own an equal share of the whole property. If one of you dies, the other automatically takes the whole property, and you cannot leave your share to someone else in your will.

Tenants in common. You can hold equal or unequal shares, such as 50/50 or 70/30. Each person can leave their share in their will, and there is no automatic transfer to the survivor.

Tax. Co-owners generally declare rental income and claim expenses in line with their ownership share. That means who owns what share affects who gets the deductions and who pays tax on a gain when you sell.

The 2026 rules. For established residential properties bought after 12 May 2026, losses carry forward against future property income instead of offsetting wages, while new builds keep full negative gearing. That changes how much it matters which partner holds the loss.

Changing how a property is held after you buy can trigger stamp duty and capital gains tax. Some couples also consider a trust or a company, which have their own rules. Settle all of it before you sign.

‍

6. If One of You Is Not Convinced

Hesitation is a reasonable response to a large decision, and a good partner will want to hear it. Some ways through:

• Find the specific worry. It might be the debt, the risk, the workload, or what it means for your home plans. Each needs a different answer.
• Look at the numbers together, including the stress test, so the worry is tested against figures and not feelings.
• Start smaller. One property, a lower loan, a larger deposit, or a bigger buffer can make the first step more comfortable.
• Agree some limits. A maximum weekly shortfall and a minimum buffer give the cautious partner a safety net.
• Consider rentvesting. If buying where you live is the sticking point, investing elsewhere while you rent is an option. 
• Get a neutral opinion. A broker, an accountant, or a buyers agent can explain the numbers without taking a side.

‍

7. Plan for Things Changing

Nobody likes this part, and it is worth doing before you buy.

• Separation. Jointly owned property and debts are dealt with under family law or by agreement. Some couples consider a binding financial agreement. A family lawyer can explain the options.
• Death or illness. Update your wills, and consider powers of attorney. Life, total and permanent disability, and income protection insurance can stop one partner’s illness or death from forcing a sale.
• Job loss. The buffer and the single-income test cover this.
• Selling. Agree in advance how you would decide to sell, and what happens if one of you wants to buy the other out.

‍

A Checklist to Agree Before You Sign

• What the property is for and how long we will hold it

• The most we will borrow, and the most weekly shortfall we will accept

• The size of the buffer, where it sits, and who tops it up

• Who is on the loan and who is on the title, and in what shares

• Whether we hold as joint tenants or tenants in common

• Who manages the property, the paperwork, and the property manager

• What we do if rates rise or the property is vacant

• What would make us sell

‍

Ready to Plan Your Purchase Together?

At Search Property, we help Australians cut through the noise and build data-driven investment strategies aligned with long-term wealth goals. Our buyers agents have helped thousands of clients build wealth through property because we focus on fundamentals, not headlines.

Book a FREE investment assessment call with Search Property. We’ll go through the numbers with both of you.

‍

‍