May 11, 2024

Moving Forward Together: Summary and Next Steps for Your Co-Ownership Group

Congratulations! You’ve completed step one of your co-ownership journey: finding your purchasing group for co-ownership. This foundational step is crucial for the success of your co-ownership journey. It might take time and effort, but solidifying your purchasing group is key to ensuring a smooth and successful co-ownership experience.

Building Strong Connections

Whether you’re old friends or just getting to know each other, deepening your understanding of your potential co-purchasers will help strengthen your relationship and develop a shared vision for your future home. Here are some engaging conversation prompts and activities to help you get a sense of what living together might be like:

  • What is your favourite part of living in your current home? What challenges do you face there?
  • Describe a typical week in your life.
  • How do you spend your free time? What does a typical Saturday night look like for you?
  • Where do you see yourself in 5 years? In 10 years? What city do you envision living in, and what does your family and work-life look like?
  • What is your relationship with food? Do you enjoy cooking? Do you have any dietary needs or preferences?
  • Do you enjoy vacationing or travelling for extended periods?
  • What other questions would you like to discuss with your potential co-purchasing group?

Understanding Each Other’s Vision

No matter the nature of your existing relationships, considering each other as potential co-purchasers offers a unique opportunity to learn about one another in new ways. Whether it’s your first meeting with an acquaintance or a discussion with family members, take the time to understand each other’s lifestyles and future aspirations. These conversations can be lighthearted, but they may also provide valuable insights.

“Everyone has to be comfortable with not only the same search criteria, but the same amount of risk. I can’t show homes to members of a purchasing group without a plan because no one can agree.”
— Lesli Gaynor, Co-founder of Husmates

Preparing for the Next Steps

Before you move forward as a purchasing group, make sure you have:

  • Discussed and agreed upon which needs and wants your group can meet.
  • Established shared goals for your co-ownership real estate purchase and have a common understanding of your ideal co-living situation.

By ensuring these foundational elements are in place, you’ll be well-prepared for the exciting journey ahead. Each step you take together builds a stronger foundation for your shared homeownership dreams.

Ready for the next step? Head over to Building your Financial Model to continue your co-ownership journey.

How Do You Establish Your Purchasing Group?

Click on the sections below to learn more.

  1. Kickstarting Your Co-Ownership Adventure: How to Find and Build Your Ideal Home Team
  2. Envisioning Your Perfect Co-Ownership: What Do You Truly Want?
  3. Thinking Outside the Box: Creative Ways to Form Your Co-Ownership Group
  4. Connecting with Co-Owners: How to Find Your Ideal Group
  5. Designing Your Dream Home: How to Sketch Your Ideal Home
  6. Moving Forward Together: Summary and Next Steps for Your Co-Ownership Group