Do you want to invest in the Real Estate Market but find the prices are still too high compared to what you can afford?

Perhaps you qualify for a mortgage but the houses in your price range need too much work? Are you divorced or widowed and can no longer afford the costs of owning a home on your own? Do you have a dream of owning a cottage - but not in the near future?

All this can change if you will consider sharing a home or cottage with others who have the same hopes and dreams.

The Property Connectors can show you how.

It's called Equity Sharing through joint home ownership. This is a great time to invest in real estate! Interest rates are low and housing prices have come down.

Home ownership is closer than you think.

By buying a home with a second party you can share equity, a portion of the payment, a portion of the expenses and a portion of the home.

Click to register with The Property Connectors!

HOW DOES EQUITY
  SHARING WORK?

Two parties pool their resources and buy a house that has living accommodation for both. They jointly apply for a mortgage and take title to the property in both names as “tenants in common” for a specified time period (ie the term of the mortgage). An agreement is signed outlining the terms of the equity sharing including the percentage owned by each party, the responsibilities of both parties, options if one wants to end the agreement before the end of the term as well as what happens at the end of the term - do you sell and share the equity gain or renew the mortgage and the agreement?

THE DREAM OF OWNING
  YOUR OWN HOME

To many, that is just what it is - a dream. According to Statistics Canada (2005) the average median income of a single person working in Orillia was $25,339. Based on an interest rate of 5% and amortization period of 35 years, this person could qualify for a $70,000 mortgage. The average median income for a single parent family in Orillia was $35,230. They would qualify for a mortgage of $114,000. The median income for all families was $56,951 which qualified for a mortgage of about $140,000.

But the question is - where would these people find a house that fits their budget?
By connecting any 2 of these parties, The Property Connectors can help bridge the widening gap between renting and the dream of home ownership.

Click to register with The Property Connectors!