TORONTO – A recent Royal LePage survey shows that more Canadians are co-owning homes with family members or friends.<\/p>\n
The online survey, conducted by Leger between Aug. 10 and Aug. 21, shows six per cent of respondents co-own homes with someone other than their spouse.<\/p>\n
Eighty-nine per cent of respondents bought the home with a family member, seven per cent with friends and eight per cent with someone who is not a friend or family.<\/p>\n
Karen Yolevski of Royal LePage Real Estate Services Ltd. says that multi-generational households are now the fastest-growing household type in Canada and the decision is increasingly made for financial reasons, with 76 per cent of co-owners saying affordability was a driving factor.<\/p>\n
She says increasing home prices and interest rates with higher thresholds for mortgages are making Canadians pool their resources to buy a property.<\/p>\n
Yolevski says co-owning a property with friends or family is not simple, as it comes with meaningful lifestyle changes and in-depth conversations over financial, legal and personal obligations.<\/p>\n
This report by The Canadian Press was first published Aug. 31, 2023.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
TORONTO – A recent Royal LePage survey shows that more Canadians are co-owning homes with family members or friends. The online survey, conducted by Leger between Aug. 10 and Aug. 21, shows six per cent of respondents co-own homes with someone other than their spouse. Eighty-nine per cent of respondents bought the home with a […]<\/p>\n","protected":false},"author":362,"featured_media":1438,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"guid":"","source":"The Canadian Press","byline":"The Canadian Press","published":"2023-08-31T07:29:38","updated":"2023-09-02T12:30:00","_infotelid":"IT100283","_prepressid":"100283","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[542,2,552,543],"tags":[],"region":[322,323,324,325],"class_list":["post-1439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured4","category-inhome","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/inhome\/news\/1439\/more-canadians-opting-for-home-co-ownership-amid-affordability-crunch-royal-lepage\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"More Canadians opting for home co-ownership amid affordability crunch: Royal LePage","url":"http:\/\/infonews.ca\/inhome\/news\/1439\/more-canadians-opting-for-home-co-ownership-amid-affordability-crunch-royal-lepage\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/inhome\/news\/1439\/more-canadians-opting-for-home-co-ownership-amid-affordability-crunch-royal-lepage\/"},"thumbnailUrl":"https:\/\/infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/MediaItemID100283-3832.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/inhome\/wp-content\/uploads\/sites\/4\/MediaItemID100283-3832.jpg"},"articleSection":"featured4","author":[{"@type":"Person","name":"Howard Alexander"}],"creator":["Howard Alexander"],"publisher":{"@type":"Organization","name":"iNhome","logo":""},"keywords":[],"dateCreated":"2023-08-31T14:29:38Z","datePublished":"2023-08-31T14:29:38Z","dateModified":"2023-09-02T19:30:00Z"},"rendered":"