Introduction

Co-ownership housing is a shared living arrangement where two or more people own and live in a home together. Co-owners may share living spaces like kitchens and living rooms, or the home may be divided into separate units.

Responsibilities for care and upkeep of the home are usually shared, as well as some amenities and services.

For people who want to take advantage of co-ownership housing, this guide provides practical information to help you :

  • explore co-ownership options
  • learn the steps you need to know to protect yourself in co-ownership arrangements

Benefits

Co-ownership housing expands the options available to individuals and families and provides a range of benefits, including :

  • affordability : people can pool resources to buy a house, making home ownership more affordable. It also provides a way to build equity and the security that comes with owning your home
  • access to more neighbourhoods : people have more housing location options within their budget (for example, residential communities with predominantly single detached homes)
  • more efficient use of housing stock : smaller households can maximize the space available in larger houses and heritage properties by co-owning them with others
  • community : enables groups of people to voluntarily create a community environment with facilities, indoor and outdoor common spaces and services that meet their needs

How we developed the guide

More Homes, More Choice : Ontario’s Housing Supply Action Plan recognizes that fresh approaches will give people more options and access to housing that is affordable.

Stakeholder roundtables were conducted to support the development of the co-ownership guide. Those attending these discussions included :

  • co-ownership housing residents
  • representatives who assist co-ownership groups
  • professional service providers and sector organizations
  • municipalities and municipal associations

The roundtables provided valuable input into the content of this guide. The ministry thanks the participants for sharing their insights.

Disclaimer

This guide is for information only and offers a summary of legislation and policies that are subject to change. It is not a legal interpretation of the legislation and policies referred to in this guide. The guide, as well as any links or information from other sources, is not a substitute for specialized legal or professional advice. The user is solely responsible for any use or application of this guide.