For those who are considering purchasing a property with friends or family, The Urbaneer Team has been exploring some of the opportunities and constraints of co-ownership in Toronto real estate for some time.
Most recently we responded to a client inquiry earlier this year with some guidance; a property owner was considering selling the rental suite in his home to his tenants, which became the subject of a Dear Urbaneer instalment called: Can I Sell Part Of My House For Co-Ownership?. Unfortunately, it isn't as easy as one might hope, particularly with the issues of mortgage financing and liability.
Check it out if you're curious to some of the challenges in creating a co-ownership option in the freehold housing. After all, the idea of co-owning a property with others is an interesting proposition and, without a doubt, it's an arrangement that more people are exploring given the high prices of Toronto real estate!
Just recently, Urbaneer's proprietor Steve Fudge was fortunate enough to be interviewed by Connie Crane of Real Estate Magazine, for one of their online articles. In it, Steve expounds on the particular process and financial benefits of co-ownership, alongside two other realtors from both Toronto and Vancouver. Read the article here: "Navigating The Complexities Of Co-ownership".
If you'd like to learn more about the concept of splitting ownership of a home, including the related trend of today's seniors wanting to "age in place" and the rise in interest in multi-generational housing, visit our blog!
Can my team and I become your realtors of choice, and guide you to the best of the best Toronto real estate?
With a multi-disciplinary education in housing - and 27 years experience in the property market - I believe the search for a Home requires engagement on sensory, intellectual and emotional levels. In fact, it's how I've become a top producing realtor.
Here are some of my related blogs, including those embedded in this post:
With decades of experience navigating the highs and lows of our market, and our commitment to remain acutely aware of shifts and trends, we are here to help without pressure or hassle.
May we be of assistance to you, or someone you love?
Thanks for reading!
-The Urbaneer Team
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage - (416) 322-8000
- we're here to earn your trust, then your business -
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