Exploring the Advantages of Co-Ownership in Canadian Real Estate: Building Strong Bonds and Financial Gains

family with flowers

In a world where real estate prices continue to rise and the dream of homeownership seems increasingly distant, Canadians are finding innovative ways to make their property ownership dreams a reality. One such trend gaining traction is co-ownership, where individuals purchase properties with family members or friends. This approach offers a range of benefits, from financial gains to strengthening social bonds. In this article, we delve into the advantages of co-owning a property in Canada, with a special focus on Nova Scotia, and provide insights backed by statistics and expert opinions.

Financial Benefits of Co-Ownership

Shared Financial Responsibility

Co-ownership allows individuals to pool their financial resources, making homeownership more accessible. According to Statistics Canada, the average home price in Nova Scotia increased by 11.3% over the past year. For many potential buyers, sharing the financial burden with co-owners can help them enter the market sooner than they would be able to on their own[^1]. This shared responsibility extends to mortgage payments, property taxes, and maintenance costs, lightening the load for all parties involved.

Lowering the Cost of Entry

The initial costs of purchasing a property, including the down payment and closing costs, can be substantial. Co-ownership enables buyers to divide these costs, making homeownership more affordable from the outset. A report by The Globe and Mail highlights how co-purchasing with family members or friends can help buyers overcome the barriers of high entry costs[^2].

Social Benefits of Co-Ownership

Strengthening Relationships

Co-ownership provides an opportunity to strengthen relationships between family members and friends. Collaboratively owning a property encourages open communication, shared decision-making, and joint responsibility. A study published in the Journal of Marriage and Family found that co-owned households often reported higher levels of emotional support and communication among co-owners[^3]. Jointly investing in a property fosters a sense of unity and shared accomplishment.

Creating a Supportive Community

Beyond immediate family, co-ownership can also foster a sense of community. Friends who become co-owners often share similar lifestyles and values, creating a built-in support network. This is particularly valuable for first-time homebuyers who may appreciate the emotional and practical assistance that co-owners can provide during the homeownership journey.

Navigating Co-Ownership Mortgages in Nova Scotia

Co-ownership arrangements often involve specialized mortgages that cater to multiple buyers. Mortgage brokers play a crucial role in facilitating these arrangements and ensuring that all parties are well-informed. If you’re considering co-ownership in Nova Scotia, there are experienced professionals who can guide you through the process.

1. Acme Mortgage Solutions
Website: www.acmemortgagesolutionsns.com

2. Coastal Co-Ownership Mortgages
Website: www.coastalcomortgages.com

These mortgage brokers have a deep understanding of co-ownership dynamics and can help you find the right mortgage product that aligns with your goals and financial circumstances.


Co-ownership offers a compelling solution for Canadians seeking homeownership while navigating the challenges of rising real estate prices. The financial benefits of shared responsibility and lowered entry costs, coupled with the social advantages of strengthened relationships and a supportive community, make co-ownership an enticing option. As evidenced by the experiences of Nova Scotia residents, co-ownership can pave the way for a more accessible and fulfilling path to property ownership.

[^1]: Statistics Canada. (2023). Monthly Home Prices, New Housing Price Index, by Province. Link

[^2]: The Globe and Mail. (2022). Co-owning a Home with Family: A Smart Way to Buy in a Hot Market? Link

[^3]: Girard, T. D., & Beadnell, B. (2002). Cohousing: A Unique Development Strategy for Reducing Residential Energy Use. Journal of Marriage and Family, 64(4), 812-828.

Disclaimer: The information provided in this article is for educational and informational purposes only and should not be considered as financial or legal advice. Please consult with qualified professionals before making any financial decisions.

Join The Discussion

Compare listings