Guest Speaker: Jean-Paul Bedard; Him and his wife are sharing a house with another couple.
As housing prices climb in the city many people really have to get creative as to how they can own a home in the city and Shared Ownership is a great option.
• How the Shared Ownership arrangement came about
• Was it difficult to get everyone on board with the idea?
• How they handled the finances and who they put on title
• Did they put together any kind of formal agreement for living
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together? How has it worked out?
• How they divided the snow-shovelling and exterior home maintenance
• How they decided on which part of the house each couple would live in
• Did it take them a long time to find a place?
• Were any renovations required?
• Do they have life insurance on each other?
• What kinds of contingencies do they have in place if one couple wants out or divorces?
• How much longer they'll continue with this arrangement
• Do they see shared ownership as a stepping stone to eventually owning a home or condo?
• Their biggest fear about shared ownership
• What they like best about the arrangement
• Would they recommend shared ownership?
• Have they built up equity in their home?
• Advice Jean-Paul has for those who are on the fence about doing a Shared Ownership arrangement
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