We are experiencing a transitional time not just in real estate and the workplace but in a broader cultural paradigm. A metamorphosis of sorts. It’s hard to predict what our landscape will look like at the end of all this as it is unlikely to go back to what we perceived as normal. As we look to the future, we can only speculate what the new normal will be.
Perhaps one of the most famous groups in the world of co-ownership, the ‘Golden Girls’ of Port Perry are now considered the face of co-ownership in Ontario. As Ontario’s government pushes for alternative housing ideas to combat the housing crisis across the province, these four seniors came together and took advantage.
The process of co-ownership in real estate can be complicated. When it comes to multiple owners who don’t have previous relationships, there can be perceived difficulties when it comes to the legal arrangement of the living situation. In general, the two legal arrangements that are often chosen in real estate are tenants-in-common and joint tenancy. In this article we will discuss these two arrangements and explain why tenants-in-common should be your choice for a co-ownership arrangement.
Located in the centre of Ottawa lies Ontario’s only completed cohousing community: Terra Firma. Terra Firma began in 1997 and is now home to 12 families. With a large common house and common garden, the residents of Terra Firma fully embrace their community and the true spirit of cohousing.
