Pros and Cons of Co-Ownership Agreements: Multi-Generational Housing Strategies

A Housing Affordability Crisis - Canadians are looking for ways to help adult children and grandchildren with their dream of owning a home.  These decisions and actions can have a huge impact on Estate Planning as well.  We will take a look at areas of concern as well as developing legislation.

 A Review of the Stats:

• Generational categories – An Aging Population
• Who Owns Homes – Home Ownership in Decline
• Housing costs, mortgage rates, income and down payment qualification
• Immigration – Boon or Bane

 Co-Ownership;

• Multi Generation Living: The Bell Family Compound, Vancouver, BC
• Co-Ownership Contracts
• Finance considerations: Construction costs; Liability
• Estate planning considerations
• What can go right and what can go wrong

 Strata/Condo:

• Elimination of single-family zoning
• Strata/Condo vs Co-Ownership