Guest Speaker: Jean-Paul Bedard, Him and his family share 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.
His Insights
- 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 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
