Co-ownership in Bloordale Village Shows a Way Forward in the Housing Crisis

In Toronto's escalating housing market, co-ownership is emerging as a viable solution for prospective homeowners. Husmates, a real estate platform founded by Lesli Gaynor and Parimal Gosai, facilitates this approach by connecting individuals interested in pooling resources to purchase property. The platform assists users in identifying suitable residences, managing finances, and matching with potential co-owners.

CityNews Toronto

A practical example of co-ownership's benefits is evident in Bloordale Village. In February 2020, Craig Ruttan, his partner, and two friends utilized Husmates to acquire a detached house. It came down to, “we didn’t need a 2,000-square-foot house and we didn’t want a 500-square-foot condo. So this opened up options in between, getting to live in a neighbourhood and getting to live in a place about the same size or a little bigger than our current apartment” says Craig. They transformed the property into three separate units, including a laneway house, thereby enhancing affordability and community living.

The Green Line

Co-ownership not only makes homeownership more accessible but also fosters community bonds and shared responsibilities. As Toronto continues to grow, innovative models like co-ownership offer promising avenues to address housing challenges.

Check out Husmates available on both the app and google store.