What does homeownership really mean? There’s the conventional idea of homeownership that includes title ownership, a huge debt load, and a long-term commitment, but what if there was a better way? At Key, we are seeking to expand this definition of homeownership. 

To us, owning a home means holding an economic asset that can grow in value over time, as well as having a place to live and make your own. We believe that these benefits can be delivered without the need to take on a large mortgage and get locked into a long-term commitment.

Build home equity from day one with co-ownership

With Key’s co-ownership model, instead of needing to save for at least a decade to put down a 5-20% down payment, you can start owning with an initial investment that starts at just 2.5% (this is around 15k for most of our suites), so you can start building home equity many years sooner. 

With co-ownership, you have an equity position starting from day one that can grow in value over time. Plus with Key, the more of the suite that you own, the less your monthly payment will be. 

The bottom line? Key’s solution allows you to build equity from day one without being house poor or sacrificing your freedom and quality of life.

Access to leverage without a mortgage

Key offers an optional Co-financing Benefit, which allows you to build home equity faster. For every $1 you invest, you will also receive $1 in leverage. You can learn more about how co-financing works here

Increased security of tenancy

One of the major benefits of owning your home is that you have a place to live with the comfort of knowing you won’t have your landlord knocking on your food with that dreaded 60-day notice.

With Key’s model, Owner-Residents have improved security of tenancy. The Owner-Resident and property owner are signed to a 3-year term. After this point, Owner-Residents can decide to take on a mortgage and buy the whole suite, but there is no obligation. You can learn more about how Key is turning renters into owners, and providing increased security of tenancy here. 

At Key, we’re providing our Owner-Residents with the pride and comfort of homeownership, without needing to take on a large mortgage and a large amount of debt, or sacrificing the freedom available with renting.

By removing the two biggest barriers that come with traditional homeownership, a sizable downpayment, and taking on a mortgage, Key’s innovative model allows people to get onto the property ladder faster and start building equity from day one. If you’re interested in Key’s co-ownership model as a solution for you, you can learn more about if co-owning makes sense for you and how Key compares to traditional ownership