Four millennials have managed to co-own a 3,000-square-foot, three-storey semi-detached duplex west of Toronto’s downtown core.
Michael Carlson, 36, who is a teacher and financial planner, had been championing co-ownership for about a decade before he finally took the plunge in March 2021. He and his partner Heather Nelson, 39, decided to sign on the dotted line with another couple, Craig Ruttan, 33, and his partner Alex Rand, 30, because they were interested in co-owning and cohabitating in one house.
Though each one of the homeowners makes more than the average income in Toronto — their annual pay ranges from $60,000 to $120,000 — what they could afford to purchase as individual couples was less than what they found they qualified for by pooling their resources.
Anne Gaviola looks at how the couples did it.
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