Co-Ownership: Pride Cometh Before The Fall

A pair of larger swallowtail butterfly caterpillars with a smaller one
swallowtail nursery back in business! photo by Vicki DeLoach is licensed under CC BY-NC-ND 2.0
Two can share. Even three!

Apologies for the doom-laden headline, but there’s seldom a chance to use a pithy poetic-sounding phrase, particularly one that containeth that sophisticated ‘eth’ sound. After all, a sleazy single or double ‘s’ can often do the job.

Our headline paraphrases the thoughts of a real estate agent on the whole co-ownership thing. These are:

  • it’s easy to start
  • it’s not for everyone
  • it’s best to prepare for the worst

The Ontario, Canada government has published guidelines for people thinking about sharing ownership of a home. It’s one step a legislature faced with a housing crisis can take: convincing voters to take care of the problem themselves by encouraging them to cozy up in a co-owned house. The cost? One pamphlet. (We hesitate to praise the Ontario Government for its cleverness. Knowing its current political leanings, it might take approval as an indication it can bail out of its real affordable housing responsibilities.)

A recent article delved into co-ownership further, interviewing one realtor who was a consultant on the Ontario guidelines.

Why might this be of interest to those in other jurisdictions?

Co-ownership is happening elsewhere. Advice about general prudence and caution in this matter should travel relatively well, even if it does not touch on regional legal peculiarities.

Read more in the loop: The Dream Of Co-Ownership? What To Consider Before Sharing A Home