OURBORO SURPASSES 100 CO-INVESTED HOMES AND EXPANDS PRODUCT TO OTTAWA

Demand for affordable homeownership fuels Toronto-based company to expand its investment regions

TORONTO, Feb. 29, 2024 /CNW/ - Ourboro, a Toronto-based company dedicated to providing access to homeownership through co-ownership, is announcing several significant milestones as it expands across Ontario:

• A 220% increase in total homes purchased across the GTA, with over 1,000 qualified applications received in the past 12 months;

• Total investments made approaches $15M, which has helped families purchase over $80M of real estate to date;

• Over 840 realtors and mortgage brokers became Ourboro referral partners in 2023, pushing the network beyond 1,200 individuals and brokerages.

Since it's market launch in February 2022, Ourboro has experienced remarkable momentum and demand from homebuyers looking for innovative ways to break into the housing market. Building on this growth, Ourboro is excited to announce the expansion of its service offering to the Ottawa region. Applications to co-buy in Ottawa will be accepted beginning February 29, 2024 at https://ourboro.com

"We are seeing great interest in markets like Ottawa, where the average price of a home is still well below $1M," says Alex Kjorven, Chief Product Officer at Ourboro. "Co-ownership is a transformative solution for those without access to intergenerational wealth - for a city where close to a quarter of its residents are born outside of Canada, Ottawa is a natural next step as we expand our service offering."

How does Ourboro's co-ownership model work? 

Ourboro invests alongside homeowners by contributing toward the initial down payment in exchange for a proportionate share in the future appreciation when the home is sold. Ourboro does this through the management of several private real estate funds. Ourboro investors gain residential real estate exposure by co-owning homes alongside vested homeowners. The unique model aligns the goals of investors with that of co-owners where successful homeownership means successful investments.

ABOUT OURBORO

Ourboro is a private, Toronto-based company that co-invests up to $250K towards a buyer's down payment, purchasing a share in the future value of the home. Once they are in their home, additional programs, such as maintenance check-ups and renovation credits, are available to co-owners to help preserve and increase property values.

For more information about Ourboro or to learn more about the application process, please visit https://ourboro.com/how-it-works/.

SOURCE Ourboro

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