As house prices continue to skyrocket across Ontario, buyers and renters need to find new and innovative ways to enter the housing market. One such way recently suggested by the Ontario government in their Ontario's Housing Supply Action Plan is through co-ownership.
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.
Living with multiple people has a range of benefits including the option to live in neighbourhoods you couldn't afford on your own, fostering a sense of community with your housemates, and lowering your cost of living.
Buying a home with other people is a big…