June 13, 2024

The Complete Guide to Shared Ownership with Ourboro

The Complete Guide to Shared Ownership with Ourboro

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Shared ownership is an innovative way to break into the housing market, especially for those who may not have enough savings for a full down payment. Ourboro offers a unique shared ownership model that helps potential homeowners achieve their dreams without taking on additional debt. In this guide, we’ll explore how Ourboro works, its benefits, and everything you need to know to decide if it’s the right choice for you.

What is Shared Ownership?

Shared ownership allows individuals to co-own a property with an investor, reducing the financial burden of buying a home. This model offers several benefits, such as lower initial costs and shared risks. However, it also comes with challenges, including shared decision-making and potential complications when selling the property.

Benefits of Shared Ownership

  • Lower Initial Costs: Reduced down payment requirements make it easier to enter the housing market.
  • Shared Risks: Both parties share in the financial risks, reducing the burden on the homeowner.
  • Access to Better Properties: Potential to afford higher-value homes that might otherwise be out of reach.

Challenges of Shared Ownership

  • Shared Decision-Making: Requires consensus on significant decisions, which can be complex.
  • Potential Complications in Selling: Dividing proceeds and handling depreciation can be challenging.

How Ourboro Works

Ourboro’s model is straightforward and user-friendly. Here’s a step-by-step breakdown:

  1. Lock In a Contribution: Complete an application and work with Ourboro’s team to determine how much they can contribute towards your down payment.
  2. Co-Buy Your Home: Get connected with a licensed mortgage broker and a top real estate agent to find your new home.
  3. Grow Together: Ourboro supports you throughout your homeownership journey, sharing in any gains or losses when you sell the property.

Detailed Process

Lock In a ContributionSubmit an application and determine the down payment contribution.
Co-Buy Your HomePartner with a mortgage broker and real estate agent to find and purchase a home.
Grow TogetherReceive ongoing support and share in the home’s appreciation or depreciation.

Eligibility Criteria

To qualify for Ourboro’s program, you need to meet specific criteria:

  • Geographic Requirements: You must be looking for a home in the Greater Toronto Area or one of Ourboro’s investment regions.
  • Financial Prerequisites: You need to qualify for a mortgage and have at least 5% saved for a down payment.
  • Other Qualifying Factors: This should be your first home, and you should be using co-ownership as a stepping stone to full ownership.

The Co-Investment Model

Ourboro’s co-investment model involves purchasing a share in the future value of your home. The percentage of the down payment each party contributes translates into their equity stake in the home.

Example Scenario

Let’s say you co-buy a $1,000,000 home. Your mortgage would be $800,000 (80% of the home’s value). If you contribute $80,000 (8% of the home value) and Ourboro contributes $120,000 (12%), together you have a $200,000 (20%) down payment.

PartyContributionPercentage of Down PaymentEquity Stake in Home

Fast forward a few years, and the home sells for $1,500,000. After paying off the mortgage and any closing costs, the remaining proceeds are divided according to the equity split.

Equity Distribution Example

Selling Price$1,500,000
Mortgage Balance Paid Off$700,000
Remaining Proceeds$800,000
Your Share (40%)$320,000
Ourboro’s Share (60%)$480,000

Advantages of Using Ourboro

  • No Interest or Additional Debt: Ourboro’s contribution is not a loan, so there are no interest payments or extra debt.
  • Real Estate Expertise and Support: Ourboro provides exceptional real estate expertise to help you find and maintain a valuable property.
  • Shared Risk and Reward: Both parties share in the home’s appreciation or depreciation, aligning their interests.

The Homebuying Journey with Ourboro

Locking In a Contribution

Start by submitting your application. If it’s a good fit, Ourboro will lock in their maximum down payment contribution for 90 days.

Finding and Purchasing a Home

You’ll be paired with a partner real estate agent and have access to Ourboro’s custom-built property search tool to find the perfect home. This tool helps analyze and filter listings, showing you homes that meet your needs and are likely to grow in value over time.

Living in the Home and Maintaining Value

Once you move in, Ourboro offers programs and services to help preserve and increase your home’s value. These services may include:

  • Home Maintenance Tips: Regular advice on how to maintain and enhance your property’s value.
  • Market Updates: Information on market trends to help you make informed decisions about your investment.
  • Community Support: Access to a network of professionals and other homeowners for advice and support.

Selling Your Home

When you’re ready to sell, the process involves:

  1. Paying Off the Mortgage: The bank is paid back first.
  2. Equity Distribution: The remaining proceeds are divided according to the equity split.
  3. Handling Potential Losses: If the home depreciates, both parties share in the loss.

Case Study: Ricardo & Patricia

Ricardo and Patricia co-bought a home valued at $900,000. They contributed $45,000 (5%) and Ourboro contributed $135,000 (15%), making a total down payment of $180,000 (20%). After five years, the home appreciated to $1,200,000.

PartyContributionPercentage of Down PaymentEquity Stake in Home
Ricardo & Patricia$45,00025%25%

Upon selling, after paying off the mortgage, the remaining proceeds were $600,000. Ricardo and Patricia received $150,000 (25%), and Ourboro received $450,000 (75%).

Frequently Asked Questions

What happens if the home value decreases?

Both parties share in the loss, aligning their interests and ensuring that both parties are equally invested in the property’s success.

Can I buy out Ourboro’s share?

Yes, you can buy out Ourboro’s share under specific conditions. This can be a great option if your financial situation improves and you want full ownership of the property.

What are the closing costs?

Closing costs are the responsibility of the co-owner, but Ourboro may offer a selling bonus to help cover these expenses. This ensures that you are not burdened by unexpected costs when selling your home.

How does Ourboro’s support benefit me?

Ourboro’s real estate expertise and ongoing support help you make informed decisions, maintain your property’s value, and navigate the complexities of homeownership.

Testimonials and Success Stories

Kyle & Marina: “We felt like we were with friends and family looking after us and supporting us. It was the perfect fit.”

Marsha & Gary: “We would like to say a big thank you for making our dream of owning our 1st home in Canada a reality. Always very accommodating and supportive with great advice and service.”

Tom & Sarah: “Ourboro made the process of buying our first home so much easier. Their support and expertise were invaluable.”


Ourboro offers a new way to buy and own your home through a shared ownership model that aligns the interests of both the homeowner and the investor. With no additional debt and expert support, Ourboro makes homeownership more accessible. If you’re looking to break into the housing market, consider Ourboro as your co-investor and partner on this exciting journey.

By leveraging the shared ownership model, you can achieve your dream of homeownership sooner, with the added benefit of professional support and shared financial risk. Whether you’re a first-time buyer or looking to re-enter the market, Ourboro provides a viable and innovative solution.

For more information and to get started on your journey to homeownership, visit Ourboro’s website and submit your application today. Your dream home is just a few steps away!

Note: This article is intended for informational purposes only and does not constitute financial advice. Please consult a financial advisor or mortgage professional before making decisions about your mortgage.