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  • Co-Ownership: Is it a good idea?

Co-Ownership: Is it a good idea?

April 4th, 2018

Co-Ownership: Is it a good idea?

Co-Ownership: Is it a good idea?

It is very common for properties to be owned by more than one party. Sometimes these parties are related other times they are not. The idea that there is a split cost for ownership and repairs can be very attractive however, when can it turn pear shaped? What happens when the agreement fails or even worse a party wishes to cancel ownership? Here we discuss the pro’s and con’s of co-ownership so perhaps if you are considering going down this path you may want to consider these factors.

Before we explore the actual physical pro’s and cons it might be wise to understand that the very idea of co-ownership has altered over previous years. Co-ownership does also relate heavily to Strata title which was introduced over 50 years ago. The digital age has also had a huge influence on co-ownership. There are numerous online applications and platforms now such as DomaCom or BrickX (click here to access our last blog on Brickx). These platforms have provided access to owning property at a smaller percentage but in turn can also mean smaller returns.


  1. Permits a whole range of sharing options. For example, allowing the occupant or tenant be a part owner if they cannot afford the entire house. It allows the investor to take a smaller position as a promise of a better relationship with the tenant;
  2. Minimise cost of repairs – these would be halved or even if one of the co-owners are a tradesperson then it could be an ideal situation for cost of repairs;
  3. If the property is un-tenanted for a period of time you only have to cover half the cost for the mortgage payments;
  4. If you have bought property through one of the online platforms such as BrickX you can invest in numerous properties in different areas thus minimising the risk of investing in one area only.



  1. The financial , legal and statutory costs of purchasing a home can cost half a year’s income – so be sure you are 100% confident that you will not change you mind – if you do it may be very costly to back out of the situation;
  2. Agreeing on the repair! All repairs have to be cleared by both parties however, not everyone sees eye to eye. More opinions means more options for repairs;
  3. Renovations – you may want to build equity in the property by completing some maintenance or renovations however if the other co-owners do not agree and are unwilling to contribute then this can be a very costly excercise;
  4. If you are a co-owner on a platform then you have no say who the other co-owners can sell too;


About the Author

Celestine has been in the Real Estate Industry since 2002. She has competed in some of the most competitive markets in Australia. Combine her strong negotiation skills and keen customer service to achieve the best results for her clients.

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