What you learned in kindergarten about sharing could help in your quest for a home. More and more homebuyers are discovering the advantages of teaming up with a relative, friend, or someone else to buy a house. Cobuying can make it more affordable to buy a first house, retirement cottage, investment property, or second home. But you must set it up correctly to avoid problems down the road, including drawing up a good co-ownership agreement.
More than ever these days, we all want to save time and money. Most of us also want to create peaceful and nurturing homes, live in healthy, sustainable neighborhoods and communities, and work in friendly and comfortable environments. One way to accomplish all of these goals is to do more sharing. As we define it here, sharing refers to two or more people coming together to pool property, resources, or obligations to do or create something together.
We tend to consider it a given that sharing is a good thing. As children, we're taught (and made) to share our toys, our crayons, and our rooms. As we age, our toys and our personal space become larger and more expensive, and we share them less and less, but we still value the idea of sharing. Sharing can save time and money, teach you new skills, and use fewer resources and reduce your carbon footprint.