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Common Types of Homeownership

Options vary slightly between provinces, but you can choose between the following ownership types in Canada:

  • Freehold — you own the building and the land
  • Leasehold — you own the building and rent or lease the land
  • Condominium (or “strata”) — you own your unit and share common elements
  • Co-operatives (co-ops) — you buy a share in the building and live in one of the units

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https://www.cmhc-schl.gc.ca/en/consumers/home-buying/buying-guides/home-buying/find-the-right-home

Disclaimer: This article is for informational purposes only and should not be considered as financial or investment advice. Real estate investments carry risks, and individuals should conduct thorough research and seek professional guidance before making any investment decisions.

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