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Buying a House With Multiple Owners? 10 Things You’ll Want to Know

According to the Canadian Real Estate Association, the average home price in Canada in July 2022 was $629,971. While this is slightly lower than the $662,924 the average Canadian home cost at the same time in 2021, it’s still out of reach for most first-time buyers. After all, according to Indeed, the average annual income for Canadians between 25 and 34 is $46,900. No wonder then that more groups of friends, or even siblings, are looking to pool their money and buy a home together. But how do you do it? And is it a good idea? Here’s what you need to know about buying a house with multiple owners in Canada.

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