Elizabeth Wilcox and Tom Kehler, a Vancouver couple, quickly outgrew their one-bedroom condo with a den when their kids, Graham and Nathan, arrived five years ago. However, the soaring housing prices in Vancouver made it challenging to find a bigger space within their budget, forcing them to consider alternative options.
Amidst their search for a more spacious home, the Wilcox-Kehler family stumbled upon the concept of collaborative homeownership, an increasingly popular trend in Vancouver’s hot housing market. Noam Dolgin, a realtor and co-founder of CoHo BC, noted a rise in co-ownership, as it offers a viable pathway for more people seeking affordable and spacious living arrangements.
In 2021, the Wilcox-Kehler family turned to Dolgin’s website, seeking like-minded people to co-purchase a house with. They connected with another family, Chris Nichols, Ashley Pullman, and their children, and together, they purchased a $1.85-million home.
The setup involved one family occupying the main floor, while the other owned the second floor and attic. The co-ownership arrangement proved fruitful, providing a sense of community and collective benefits that wouldn’t have been possible on their own.
Dolgin highlighted the steady increase in traffic on the collaborative homeownership page of his website over the past seven years, with surveys indicating growing interest in this innovative approach. People are realizing the need for more community-oriented housing solutions that offer both social and economic sustainability.
As housing prices continue to rise, shared homeownership is becoming an attractive option for families seeking a more affordable way to own spacious homes in Vancouver’s competitive real estate market.