What is Co-Ownership housing?

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.
Co-owners usually share responsibility for care and upkeep, 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 and learn the steps you need to know to protect yourself in co-ownership arrangements.

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.

More information is available on the provincial website at Ontario.ca/HousingInnovation.