Home ownership is virtually impossible for a lot of people and especially younger people, without the help of their parents.
• We prefer to focus on homes with fully legal suites for two separate parties. In some cases, older properties may contain non-conforming suites that a municipality will recognize as legal non-conforming (“grandfathered”), or the home can be upgraded to current code to create a legal suite. Where improvements are needed, we can also discuss financing options such as a purchase-plus-improvements (loan plus improvements) mortgage to support the renovations and create a safer, more functional shared-living layout.If we can cut the cost of a home in half, or create a 70/30 or 60/40 or 25/75 split, we are also cutting the cost of the mortgage and down payment for ownership way down.
This concept has been used for decades to build wealth within families.
When you rent you are paying someone else’s mortgage, and there is no assurance you can stay in the property.
You get to choose a financially qualified partner who is also looking to find a suitable match, create some tenure, and build some equity.
We will provide a Joint Venture Agreement that can be shared by all parties, spelling out the rules of the partnership. We will provide this document free of charge and help you fill it in so it can be finalised by a Lawyer.
We estimate that a $1,000,000 home has the potential to create about $160,000 in equity for the participants in 5 years (with mortgage pay down and the increase in value) *
See the example below.
If you want to find out how much home values have gone up in the last 5 years, you can use the VREB MLS® HPI benchmark as your “Greater Victoria Benchmark” In Dec 2020 the average price was $828,400 Victoria Real Estate Board In Nov 2025 the average price was $1,142,500 Victoria Real Estate Board Increase: $1,142,500 − $828,400 = $314,100 % increase: $314,100 ÷ $828,400 ≈ 37.9% (call it ~38% over ~5 years). Victoria Real Estate Board+1 - that’s about ~6.6% per year compounded.
Now honestly, I don’t expect the gains to continue at the same pace as the last 5 years. As a matter of fact, the forecasts I’ve heard is that little growth could occur over the next 10 years, however, in the Victoria area we are surrounded by water so there is a finite amount of land available especially if you want to buy a single family home with a reasonable sized lot and yard. If you want to live in Victoria, and you can’t afford to buy a new home at today's land, construction and labour costs, you will need to resort to buying a used house and there is a limited supply of those. So, if you said that home prices will go up conservatively at 1% per year, year over year, you end up with a 5% increase or $50,000 over 5 years bringing a $1,000,000 home to be worth $1,050,000.
So, if you add $50,000 in increased value, to the $109,213 you paid off in principle, you have $159,213 in equity after 5 years owning vs renting. If you divide the $159,213 by 60 months (5 years) you get $2653 per month saved or put back in your pocket. Needless to say, if you were renting during the same 5 year period, you would have to be saving close to the same per month to be on equal financial footing.
*Estimates for potential equity gains are based on statistics over the last 5 years. We cannot guarantee what your gains will be.
FAQ : Frequently Asked Questions
What is Shared Home Ownership Victoria? Shared Home Ownership Victoria helps two compatible households co-purchase a home in Greater Victoria—ideally a property with a fully legal suite—so each party has independent living space while sharing ownership, costs, and long-term equity.
Why do people choose co-ownership? Co-ownership can make homeownership achievable when buying alone isn’t realistic. It can reduce the required down payment and monthly housing costs, while offering greater stability and long-term security than renting.
Is this the same as “shared ownership” (part buy / part rent)? No. This is co-ownership (two parties buying together and both being registered owners). It is not a government “part-buy/part-rent” program.
Do the owners live together and share a kitchen? Typically, no. The ideal home has two self-contained living areas (often a legal suite), so each party has their own kitchen, living space, and day-to-day independence.
How is your program different from just buying with a friend? The value is in the process and structure: education, compatibility matching, clear expectations, and a written agreement framework that addresses decision-making, expenses, repairs, and exit strategies.
Property and suite questions
Do you only work with homes that have legal suites? We strongly prefer fully legal, conforming suites to reduce bylaw risk and future surprises. In some cases, a suite may be recognized as legal non-conforming (“grandfathered”), or a home may be upgraded to meet current requirements.
Can we buy a home and create a legal suite after purchase? Sometimes, yes. Depending on the property and municipal requirements, a legal suite may be possible through renovations. Financing options (such as purchase-plus-improvements) may be available in certain scenarios.
Can each party have their own outdoor space, parking, and storage? Often, yes. Your agreement can define private vs. shared areas (driveway, yard sections, patios, storage, etc.) based on what fits the property and what both parties agree to.
Ownership and financing
Will there be one mortgage or two? Most commonly, there is one shared mortgage with both parties jointly responsible, while your agreement outlines how payments are split between owners.
Will both parties be on title? Yes. All owners are registered on title, and the agreement sets out each party’s ownership interest and how shared and private use of the property works.
Do both parties need to qualify for the mortgage? In most cases, yes. Lenders typically assess the combined application, and both owners are usually on the mortgage and responsible for payment.
How much down payment do we need? That depends on purchase price, lender rules, and your combined qualification. Co-ownership can reduce the amount each party needs to contribute, but it doesn’t eliminate standard lending requirements.
What happens at mortgage renewal time? Renewal is planned for in advance. Your agreement should address how renewals, rate choices, and any refinancing decisions are handled so both parties know the process and timelines.
Expenses, repairs, and decision-making
How are bills and expenses handled? Most co-owners set up a joint account for shared expenses (mortgage, taxes, insurance, agreed utilities) and contribute monthly based on their ownership share or another agreed formula.
Should we have a contingency fund? Yes—most successful co-ownership arrangements build a monthly reserve for repairs and long-term maintenance so big surprises don’t create conflict.
Who pays for repairs and upgrades? A strong agreement separates (1) routine maintenance, (2) necessary repairs, and (3) optional improvements—and spells out who approves work, how costs are split, and whether an improvement affects future payout.
How are decisions made if we disagree? A well-written agreement sets consent thresholds (day-to-day vs major repairs vs renovations) and includes a dispute-resolution process.
Risk management and “what if” scenarios
What happens if someone stops paying their share? Your agreement should include clear default steps, remedies, timelines, and consequences (and typically a dispute-resolution / enforcement path) to protect the non-defaulting party.
What if one party wants to sell early? This should be addressed up front. Common options include a buyout formula, agreed listing process, timelines, and how the property is valued.
How do we split appreciation (or losses) when we sell? Most agreements define how proceeds are divided based on ownership interest, and may also address reimbursement for unequal contributions (down payment differences, approved capital improvements, etc.).
Can we rent out one unit? Sometimes—but it depends on lender rules, insurance, municipal regulations, and what your agreement allows. In your model, most arrangements are designed for two owner-occupants, with rental scenarios handled only when appropriate.
How does insurance work with two owners? Insurance must reflect the ownership structure and occupancy. Both owners should be properly named/covered, and you’ll want to confirm details with an insurance professional.
Matching and getting started
How do you help match partners? Matching is based on compatibility factors (budget, lifestyle preferences, pets/smoking, privacy expectations, location, stairs/accessibility, and more), followed by guided conversations and careful due diligence.
Do I need mortgage pre-approval before matching? It’s strongly recommended. Pre-approval clarifies budget and reduces wasted time for everyone.
How long does the process take? Timelines vary depending on financing readiness, partner availability, and inventory. Many people start by joining the community, completing the matching questionnaire, and attending an intro session.
Do I have to choose representation right away? No pressure up front. Before you share sensitive personal or financial details, representation options and privacy consent should be discussed so you understand your choices.
Who prepares the co-ownership agreement? We have a templated Joint Venture Agreement in a Word Doc format, so is easy to fill in the blanks. I can help you brainstorm, problem solve, and fill the template in and encourage independent legal review/consultation to ensure both parties fully understand what they’re signing.
Next Step
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