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Alternative Home Ownership trends
in London/St. Thomas
The London, Ontario housing market has seen an increase in homebuyers looking for more creative ways to enter the housing market.
Looking ahead in 2024, due to ongoing affordability challenges, the RE/MAX network is expecting an estimated 10-per-cent increase in homebuyers exploring other creative solutions in order to be able to participate in the housing market.
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1. Joint tenants
2. Income/secondary suites
3. Co-ownership/co-equity
most-common forms of
non-traditional ownership:
Potential conflicts with owners, family or friends
2. Potential tenant issues
3. Property damages incurred from tenants
buyer concerns and misconceptions:
In London/St. Thomas, property sellers are not expressing any concerns about accepting an offer from a non-traditional homebuyer.
Seller perceptions
Non-traditional home-buying can bring people/families better opportunities to enter the housing market and begin home ownership. Notably, more new homebuyers are renting out separate dwelling units.
home-buying advice
regional Insights
Regional insights and advice provided by RE/MAX brokers and agents. Each RE/MAX office independently owned and operated.