3 mins

Key's Co-Ownership Model vs. Traditional Ownership

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Until now there have only been two options when it comes to real estate; buying or renting. Key creates a third option through our co-ownership model. Think of it as the benefits of owning with the freedoms of renting. We’re on a mission to turn more renters into owners. We often get questions around how Key compares to traditional ownership.

Key Co-ownership: More Accessible

Key’s ownership is inherently more accessible; to become an Owner-Resident with Key, the initial investment is just 2.5% of the value of your suite (typically around $15k for most of our suites). The more you own, the less your monthly payment will be.

Traditional Homeownership: Hard to Break Into

Get ready to start saving; it now takes an average of 28 years to save the recommended 20% down payment. Your down payment can range anywhere from 5-20% depending on the value of your home.  

Key Co-ownership: More Freedom

With Key after your first year, all we require is 75-days’ notice if you want to move out. Once you are ready to move out, you will get your equity plus appreciation back, and the appreciation from your Co-financing Benefit. Keep in mind that, just like in traditional ownership, as a co-owner you’re also taking on the risk of your suite depreciating.

Traditional Homeownership: Locked In

When you buy a home in the traditional way, you’re locked into a long term mortgage and it’s not easy to access your equity when you need to. With Key, you never have to be locked into a mortgage. As an Owner-Resident, you can decide to take on a mortgage and buy the suite after the end of the 3rd year, but there is no obligation. You can continue to stay a co-owner if you prefer. Either way, you are building home equity.If you have more questions about Key and our co-ownership model, learn how it works and visit our FAQ page for answers to common questions.

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