As more Canadians consider co-owning a home with others, a real estate representative shares what they should bear in mind before they enter into an agreement.
TORONTO -- With home ownership becoming less attainable for many Canadians living in competitive markets, such as the Greater Toronto Area, many would-be buyers are turning to each other to go in on a property together in what is often called a co-ownership arrangement.
“Solving Ontario’s housing crisis is going to take new and innovative ideas,” Steve Clark, Minister of Municipal Affairs and Housing,” said in a press release. “Getting into the co-ownership is easy, getting out is not so easy,” she told CTV’s Your Morning on Tuesday. As the housing market continues to heat up in many regions, however, Gaynor said she thinks lenders will come up with more options for those looking to co-own a home.
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