Buying a home with family or friends — plus the status of shared-equity programs.
Free quick-reference guides (PDF, courtesy of TRREB). Save or print for easy reference.
⬇ Provincial Guide on Co-Ownership (PDF) ⬇ Provincial Guide on Shared Equity (PDF) ⬇ Provincial Guide on Tiny Homes (PDF)Co-ownership (buying with relatives or friends) is increasingly common for affordability. A clear co-ownership agreement covering shares, expenses and exit is essential. Note: the federal First-Time Home Buyer Incentive (a shared-equity program) was discontinued in March 2024 and is no longer accepting applications.
| ✓ Two or more buyers qualifying together on the mortgage |
| ✓ A written co-ownership agreement is strongly recommended |
| ★ Combine incomes and down payments to qualify |
| ★ Share costs and build equity together |
| ★ Multiple ownership structures (joint tenancy / tenancy-in-common) |
| → Get joint mortgage pre-approval |
| → Have a lawyer draft a co-ownership agreement |
| → Define shares, expenses, and an exit plan |
Common questions about this program.
No — the federal shared-equity FTHBI stopped accepting new applications in March 2024.
Contact Tej Thakor, Broker of Record at Royal LePage Terra Realty, for professional real estate guidance across the GTA and surrounding areas — in English, Hindi & Gujarati.
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