Co-ownership on the rise
Co-owner ship might be an effective solution to the still- rising housing prices, and it's not all that complicated. Getting enough cash for the sizeable downpayment it takes to buy a livable house these days is HARD. Even if you have a partner to cut the cost in half, the average single family home price is $1,196,300 for Victoria BC (https://www.vreb.org. If you want to stand a chance by putting 10% down, that's $119,630. Co-owner ship means buying with one or more individuals, so maybe consider including someone else in your purchase plan.
The ownership percentage of the property can vary depending on the needs and financial resources of the co-owners (vancouversun.com). As written in this Vancouver Sun article, "Usually, the co-owners will divide the property into exclusive use areas, which may be entirely separate suites, or just separate bedrooms with the balance of the house being shared". “We have the ability to split mortgage terms,” says McKinley. “For example, if two people or two couples are taking on half a million dollars of debt, and $200,000 is earmarked for one person and $300,000 is earmarked for the other, those people could potentially pick different terms, different rates and different amortizations that are more applicable to them. So, while everyone who owns the property is still responsible for the debt, they can earmark their own debt and pick their own repayment terms. For many potential buyers this is the "only way to get into the housing market."
full article here: https://vancouversun.com/homes/buying-selling/co-ownership-on-the-rise-in-metro-vancouver-housing-market#:~:text=Co%2Downership%20is%20a%20way,resources%20of%20the%20co%2Downers.