In 2023, the median renting family under 35 held just $12,000 in liquid assets. To buy a home at the national average price forecast for 2026, you would need roughly $137,791 for a 20% downpayment alone. That gap explains why more Canadian families are pooling resources to buy homes together — not as a fallback, but as a deliberate strategy.
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This article is general information only and does not constitute professional advice. For your specific situation, consult a qualified professional.
This isn’t a niche strategy anymore. Across Canada, what researchers call “multiple maintainer households” — homes where two or more adults share ownership and costs — are becoming more common. The Statistics Canada data shows that 4 in 10 homeowners used some form of familial support to enter the market. For people under 35, that number is even higher. This trend is being driven by economic conditions that show no signs of reversing soon. Here’s what you actually need to know.
The term you will hear more often is multiple maintainer households. That is Statistics Canada’s label for homes where two or more people contribute to the costs and upkeep. It covers everything from siblings buying together to parents and adult children sharing ownership. The trend is still new enough that most people don’t have a clear picture of how to approach it.
What I tend to notice is that people assume buying together means splitting everything 50/50. In practice, the most workable arrangements are often uneven — one person contributes more to the downpayment while another covers monthly costs. The key is having a plan that matches how each person actually lives and earns.
The Real Cost of Buying: What Solo Buyers Are Up Against
The national average home price is forecast to reach $688,955 in 2026. That means a 20% downpayment comes to about $137,791. For a young renting family with median liquid assets of $12,000, the gap is enormous. Even after factoring in the median inheritance for homeowners — $85,100 in 2023 — the numbers don’t work for most solo buyers.
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| Metric | Amount | What It Means |
|---|---|---|
| National average home price (2026 forecast) | $688,955 | 20% downpayment = $137,791 |
| Median home value (under-35 owners) | $460,000 | 20% downpayment = $92,000 |
| Median renter liquid assets (under 35) | $12,000 | Covers less than 3% of a downpayment |
| Downpayment shortfall for young renters | $80,000 | Even after liquidating all assets |
| Median inheritance (homeowners, 2023) | $85,100 | Often the single biggest source of downpayment funds |
These figures explain why the share of homeowners receiving familial support keeps climbing. The Statistics Canada report found that renting families aged 35–44 face a median downpayment shortfall of $97,000. Even people in their late thirties, who might be expected to have built savings, cannot close the gap alone.
Worth weighing against this: buying with others means you share the upside too. Real estate equity accounted for 42% of overall household wealth in 2023. For younger families, housing assets make up nearly half of total wealth. The trade-off is that you also share the risk — and the legal complexity.
Common Mistakes When Pooling Money to Buy a Home
No written agreement on ownership shares
The most expensive mistake I see is people buying together without a legal document that spells out who owns what. If three people each contribute different amounts — say $50,000, $30,000, and $20,000 toward a downpayment — but the title lists them as equal owners, the split is legally equal unless an agreement says otherwise. A co-ownership agreement should state each person’s share, how ongoing costs are split, and what happens if someone wants to sell. The JustAnswer Canada Lawyers service can help you understand the legal questions involved before you sign anything.
Assuming mortgage qualification works the same as solo buying
When you apply for a mortgage with other people, the lender looks at every applicant’s credit history, debt levels, and income. If one person has poor credit or high debt, it can drag down the amount the whole group qualifies for. Some lenders also require all co-owners to be on the mortgage, not just the people contributing to the downpayment. That means someone who is not making monthly payments could still be on the hook if others fall behind. Check with a mortgage broker before you commit to a co-buying arrangement.
Ignoring the exit strategy
Life changes. Someone gets married, loses a job, or wants to move cities. Without a clear exit plan in the co-ownership agreement, selling can get messy. The agreement should cover: how the buyout price is calculated, how long the remaining owners have to buy out the departing person, and what happens if no one can afford the buyout. What I tend to notice is that people assume they will never need this clause. Then they do.
Overlooking regional market conditions
The CMHC outlook shows that housing markets across Canada are heading in very different directions. Ontario prices are expected to keep falling in 2026, while British Columbia prices should grow again. The Prairies and Quebec should see continued growth, but at a slower pace. Buying together in a market where prices are declining means you could end up with negative equity faster than a solo buyer would, because more people are counting on that property’s value. Factor in the local forecast before you pool money.
How to Set Up a Joint Home Purchase the Right Way
Choose the right ownership structure
There are two common ways to hold title when buying with family: joint tenancy and tenancy in common. Joint tenancy means all owners have equal shares, and when one dies, their share passes automatically to the surviving owners. Tenancy in common lets each person own a specific percentage, and they can leave their share to anyone in their will. For most co-buying arrangements, tenancy in common is the better fit because it allows unequal ownership shares and more flexibility. A real estate lawyer drafts the agreement and registers it with the land title office.
Get mortgage pre-approval as a group
Before you start looking at properties, go through mortgage pre-approval together. The lender will run credit checks on everyone and tell you the maximum amount you can borrow. This step reveals problems early — like one person’s credit score being too low or their debt-to-income ratio being too high. If the group pre-approval amount is lower than expected, you can adjust your price range or change who is on the mortgage. Some groups choose to have only the people with the strongest finances on the mortgage, while others sign a separate agreement about sharing payments. Both approaches have risks, and a mortgage broker can walk through which fits your situation.
Draft a comprehensive co-ownership agreement
This document covers everything the standard purchase contract leaves out. It should state each person’s contribution to the downpayment, their share of ownership, how monthly costs are split, and how decisions are made — major repairs, renovations, refinancing, and selling. It also needs a dispute resolution clause. Many people skip this step because they trust their family or friends. But the data shows that the most common source of conflict in co-ownership is money, and a written agreement prevents assumptions from becoming arguments.
Understand the tax and inheritance implications
When you buy a home with family, the tax treatment depends on who lives in the property and how the ownership is structured. If parents provide a downpayment gift to their adult child, there may be no immediate tax consequences, but the gift could affect the child’s eligibility for certain benefits. If parents co-own the property and live elsewhere, the property may not qualify for the principal residence exemption on the parents’ share. This means they could owe capital gains tax when the property is sold. A tax professional or a service like JustAnswer Canada Lawyers can clarify the rules for your province.
Frequently Asked Questions About Buying a Home With Family
Can I use my RRSP or TFSA to help a family member buy a home? ▾
What happens if one co-owner wants to sell but the others don’t? ▾
Does buying with family affect my ability to get a mortgage later? ▾
What is the difference between a gift and a loan for a downpayment? ▾
Are there restrictions on co-ownership in Ontario or British Columbia? ▾
What happens if a co-owner dies? ▾
What This Trend Means for the Next Generation of Homeowners
The CMHC projects that Canada’s economy will grow by just 0.7% in 2026, with high unemployment and modest income growth limiting household spending. Mortgage renewals will tighten budgets for homeowners who locked in low rates during the pandemic. In this environment, the trend of families buying homes together is not a short-term workaround — it looks like a structural shift in how Canadians enter the housing market.
Remember: this article is general information only. For advice on your specific situation, speak to a qualified professional.
If this was useful, you might also want to read Will the Next Generation of Canadians Ever Be Able to Afford Homeownership?.
Sources and Further Reading
The Hidden Costs of Buying a Home in Canada That No One Talks About — A breakdown of the transaction costs most buyers don’t account for, from land transfer taxes to legal fees.
How Population Growth Is Affecting Housing Demand Across Canada — Explains the demographic pressures shaping housing markets region by region.
Statistics Canada (2025). Familial Support in Entering the Canadian Housing Market. 🔗
CMHC (2026). Housing Market Outlook. 🔗
CREA (2026). A Look into Canada’s Housing Market — Spring 2026. 🔗
ViewHomes.ca (2024). Homeownership Statistics in Canada. 🔗
