New Concept real estate co ownership model hits market Buyers can get up to $250K - Feb 23rd, 2023

Toronto-based company Ourboro is to expand its co-ownership business into Ontario's Hamilton market, according to a Hamilton Spectator article on February 23r, 2023.

The company offers homebuyers up to C$250,000 towards a down payment, in return for a big share of any increase in the value of the home when it is resold.

The scheme aims to help buyers boost their down payments to 20%, offering savings on default insurance and interest while lowering monthly payments.

Critics have warned the investment model favours investors.

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Disclaimers:

--- Note: this video is not legal, financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own legal, financial, accountant and/or tax advisor for specific advice related to your business or personal situation and needs.

--- Material referenced under Fair Use / (Fair Dealing in Canada) for the purposes of news reporting. No copyright infringement intended. The above copy and video information is an interpreted summary of an article from Feb. 23rd, 2023 by Jeremy Kemeny of The Hamilton Spectator and published on thespec.com with changes to the title of the article and our own constructed written summary. If the owner of the material wants it removed, contact us directly by email and we can work it out.

---For the full original article visit their website and article at:
https://www.thespec.com/business/real-estate/2023/02/23/company-will-chip-in-250k-to-help-you-buy-a-home-but-theres-a-catch.html