Overview
Cohome is a startup that democratizes homeownership for all home-buyers by enabling co-buying and investing. We use a secured algorithm to pre-qualify the user's finances for a list of homes, show them interested co-buyers, and let them co-buy a home instead of renting. I am in charge of the whole part of design work like low to high fidelity wireframe, prototyping, creating a design system, solving problems, workflow, and also the communication with the engineering team. I would define myself as a product design lead or project manager in the team because I made decisions and the product has been launched and asking for feedback so that we can constantly iterate.
Problem
A major issue in today's society is the soaring cost of housing, making homeownership increasingly unattainable for many people. This problem is particularly severe in urban areas, where demand far exceeds supply, driving prices to unaffordable levels. As a result, many are forced to rent indefinitely or move far from their jobs and communities.
Solution
Cohome is developing an online platform that simplifies the home co-buying process. We offer financial pre-approval, facilitate friends co-buying homes together, and allow investors to join purchasing groups.
Marketing Research
1. Owning a home puts more money in your pocket over time.
2. Homeownership allows you to build equity year after year.
3. Enjoy the benefits of co-owning rather than renting.
Problem Solving
1. Claim a percentage
We’ve decided to let users specify the percentage of the home they wish to own when joining a buying group. Using percentages instead of assigning specific rooms benefits both buyers (occupants) and investors (non-occupants). Cohome provides clear guidance to help buyers determine their ownership share, making the process smoother. This approach also allows multiple investors to participate in the purchase, maximizing investment opportunities.
2. Affordability
Cohome calculates each user's co-buying power by assessing their income, budget, and credit score. We then combine the financial profiles of all users in the group to estimate their collective buying power, indicating the price range of homes they can afford. The search results are color-coded to represent affordability, making it easy for users to distinguish between homes within their budget and those that are out of reach.
3. Buying group list
The house detail page includes a list of buying groups, making it easier for users to view the specifics of each group. This list displays the type of buying group, the number of available rooms, and the percentage of ownership already claimed. If users find a group they're interested in, they can click for more detailed information.
Design System
This is a collection of reusable components for the visual design, serving as the key elements of our product. These components enable designers and engineers to efficiently build and maintain our platform. I continually updated the system while adapting the design from the website to the mobile app.
Takeaway
I'm grateful to work with such a talented team. Throughout my time at the company, I've learned a great deal from colleagues with diverse backgrounds and have been involved in product development from the very start. Co-buying introduces complexity to task flows, so we focus on making the process clear and intuitive for users through thoughtful visual elements and streamlined interactions. Facing challenges together is something I truly enjoy, and I find it incredibly rewarding when we collaborate to find solutions and overcome obstacles.