Co-Purchase Guide

Buying a Multiplex With Your Family

On October 28, 2026, the middle asking price of a half duplex home in Vancouver and Burnaby was $1,798,000, in our own count of 423 listings. For many families, the practical way in is pooling resources with another household: combining incomes to qualify, splitting the down payment, and living in separate homes under one roof. Here is how that works in BC.

MultiLiving Editorial|Updated October 2026

Questions about this guide: Gary Paul, REALTOR®, Personal Real Estate Corporation, Grand Central Realty, 778-828-7476

$1,798,000Middle asking price of a half duplex home in Vancouver and Burnaby (our count of 423 MLS® listings, October 28, 2026)

$359,600Minimum down payment at that price: 20% at $1.5 million or more (Financial Consumer Agency of Canada)

$50,000Most one first-time buyer can get back through the GST rebate on a new home (Canada Revenue Agency)

What You'll Learn

Key Topics

Two Incomes, One Mortgage

Lenders look at the total income of everyone on the mortgage application. Two households on one application can qualify for a larger loan than either could alone. Every borrower's debts count too, so have each person pre-approved first.

Separate Homes Under One Roof

Each family lives in its own home with a private entrance, kitchen and living space. You are close enough to share the yard or watch each other's kids, and each family keeps its own front door. In our view, that privacy is what makes a co-purchase last.

The Down Payment Gets Easier

At $1.5 million or more, the minimum down payment is 20%: $300,000 on a $1,500,000 home, under the rules published by the Financial Consumer Agency of Canada. Two households each bringing half makes that target reachable. Below $1.5 million, reaching 20% together also avoids the mortgage insurance premium.

The Co-Ownership Agreement Protects Everyone

A written co-ownership agreement, a private contract between you and your co-buyers, covers ownership shares, how costs are split, how decisions are made, and what happens if someone wants out. Without one, a co-owner who wants out can ask the BC Supreme Court to order the home sold.

Tenants in Common Is the Flexible Choice

Tenants in common lets each owner hold a set share of the home (60/40, 50/50, or any split), and each owner can leave that share to anyone by will. In our view it suits most family co-purchases better than joint tenancy, where shares are equal and pass to the surviving owners.

Plan the Exit Before You Buy

The question most families avoid is: what if one of us wants to sell in five years? Your co-ownership agreement should include a right of first refusal (the other family can buy your share before you list it publicly) and a clear buyout process.

The Case for Co-Purchase

Why Families Buy Multiplexes Together

Two families buy multiplex homes together to combine incomes for mortgage qualification, split a larger down payment, and live in separate homes at prices neither household could reach alone. On October 28, 2026, the middle half of the 658 half duplex and townhome listings we counted in Vancouver and Burnaby asked $1,398,000 to $2,080,000.

Mortgage qualification

Lenders look at total household income when deciding how much they will lend. Two families on one application means two incomes count. For many families, that is the difference between what one household can borrow alone and what a duplex home costs in Vancouver today.

Down payment pooling

With less than 20% down, the Financial Consumer Agency of Canada says "you'll typically need to buy mortgage loan insurance." On a $1,400,000 home with the minimum $115,000 down, CMHC's 4.00% premium on a $1,285,000 loan is $51,400. Two households pooling to reach 20% ($280,000) avoid that cost, and at $1.5 million or more 20% is the minimum anyway.

Lifestyle

In a multiplex, each family gets its own front door, its own kitchen, its own space. In a duplex, the two homes sit side by side or one above the other. In a fourplex, each family may have its own floor. You live as neighbours with separate homes. That separation is what makes buying together work for families who would never share a single house.

BC market context

On October 28, 2026, we counted 423 half duplex listings in Vancouver and Burnaby, with a middle asking price of $1,798,000. No public index tracks multiplex prices, so asking prices are the best guide. In our view, for most households buying in these neighbourhoods, buying together is the most practical way to own a home like this.

Legal Ownership

Two Ways to Hold the Title

When two families buy one home together, they have to decide how ownership is recorded on the title. BC law offers two main options. The choice affects your estate planning, your flexibility, and what happens if one owner wants out.

Joint Tenancy

Simpler, less flexible

All owners own the whole home together, in equal shares. If one owner dies, their share passes automatically to the surviving owners; this is called the right of survivorship. You cannot hold unequal shares (it must be 50/50 for two owners), and you cannot leave your share to a child or anyone else by will while the joint tenancy lasts.

Best for: spouses buying together, or owners who want the simplest possible structure.

Tenants in Common

More flexible

Each owner holds a set share. You can split it 50/50, 60/40, 70/30, or whatever reflects each family's contribution. Each owner can leave their share to anyone by will. If one family put in a larger down payment, you can record that as a larger share. There is no automatic survivorship: your share goes where your will directs it.

Best for: two families, or any co-purchase where contributions are unequal or estate flexibility matters.

A note on strata multiplex homes

Most new multiplex homes in Metro Vancouver are sold as strata homes, which means each home is registered as a separate legal title under the Strata Property Act. If each family buys its own strata home, each family owns its home and holds its own mortgage, the same way condo owners do. In our view, this is the cleanest structure for families buying together, because each household can sell its home without the other family's consent and carries its own mortgage.

On a pre-sale, each family signs its own purchase contract for its own home, and the titles are registered at completion. If the families instead buy one home together, they share that one title as joint tenants or tenants in common, and the co-ownership agreement sets the rules between them.

Source: Strata Property Act (SBC 1998, c. 43), BC Laws.

Financing

Mortgage Options for Co-Purchasers

Several people can apply for one mortgage together. The basics are simple, with two details that surprise buyers: debts and insurance.

Every borrower's income and debts count

When two families apply together, every borrower's income counts toward qualification, and so does every borrower's debt. If one person carries large student loans, a car loan, or another mortgage, those payments reduce the total you can borrow together. Each lender sets its own limit on how many people can be on one mortgage, so ask early. Have each person pre-approved on their own first, so you can see the full picture before combining.

Mortgage insurance below 20% down

CMHC (Canada Mortgage and Housing Corporation) insures mortgages on owner-occupied homes of 1 to 4 units. With less than 20% down, its premiums run from 2.80% to 4.00% of the loan, depending on how much you put down. At $1.5 million or more, the minimum down payment is 20% under the rules published by the Financial Consumer Agency of Canada. If both families together reach 20% down, you can usually avoid the premium entirely, which is one of the main money benefits of pooling.

Before you combine: get pre-approved separately first. Each person should go through the full mortgage pre-approval process on their own before combining finances. This shows you where each person stands (income, debts, credit score) and brings any problems to light before you have committed to buying together. A mortgage broker who has handled co-purchases is worth the time.

Sources: CMHC, “CMHC Purchase” premium schedule for owner-occupied homes of 1 to 4 units (cmhc-schl.gc.ca). Financial Consumer Agency of Canada, “How much you need for a down payment” (canada.ca). Both read October 9, 2026.

Legal Protection

The Co-Ownership Agreement: Why You Need One

A co-ownership agreement is a private legal document between co-buyers, separate from the mortgage and the title. It is the rulebook for your co-purchase, and it is best written before anyone is upset about anything.

What the agreement must cover

Ownership shares (for example, 60/40 or 50/50)
How monthly costs are split: mortgage payments, strata fees, property taxes, maintenance, and major repairs
How decisions are made: one vote each, or votes in proportion to each share
What happens if one owner wants to sell (timeline, right of first refusal, valuation method)
What happens if one owner stops paying their share
How disputes are resolved (mediation before court)

Cost and process

Have a BC real estate lawyer draft the agreement, and ask for the fee in writing before work starts. More owners, unequal contributions or business interests add work and cost.

Each family should review the agreement with its own lawyer. You are on opposite sides of the same contract, and what protects one family may be less favourable for the other.

The agreement is a private contract, enforceable in BC courts. Keep signed originals with each family and with both lawyers.

Without an agreement, a co-owner who wants out can apply to the BC Supreme Court under the Partition of Property Act. If that owner holds half or more of the home and asks for a sale, the court must order one unless it sees good reason not to (section 6).

Source: Partition of Property Act, sections 2 and 6 (BC Laws, current to September 22, 2026, read October 9, 2026).

Taxes and Rebates

Property Transfer Tax and GST: What Changes in a Co-Purchase

Property transfer tax (PTT) is worked out on the whole home's value. Exemptions and rebates depend on which buyers qualify, and this matters most when one family has owned a home before and the other has not.

Tax or Rebate	How it works in a co-purchase	Example
Property Transfer Tax (PTT)	Worked out once, on the fair market value of the whole home: 1% of the first $200,000, 2% up to $2,000,000 and 3% above that. Co-buyers share it as they agree.	On a $1,798,000 home: $33,960 in total, or $16,980 for each family at 50/50.
First time home buyers' PTT exemption	For homes worth $835,000 or less (partial to $860,000), and only for buyers who have never owned a principal residence anywhere. If only some buyers qualify, the exemption shrinks to their share.	Province of BC example: an $835,000 home bought by two people where one qualifies. Tax $14,700, exemption $4,000, $10,700 to pay.
First-time home buyers' GST/HST rebate	At least one buyer must be a first-time home buyer who makes the home their main home and is first to live in it. Only that person claims. Up to $50,000 on a new home at or below $1 million, smaller above that, nothing at $1.5 million.	Two families buy one new home together and one adult in them is a first-time buyer: that adult claims the rebate. The other owners are listed as co-owners on the form.
Newly built home PTT exemption	For a new home worth $1,100,000 or less (partial to $1,150,000). Buyers must be Canadian citizens or permanent residents and move in within 92 days. If only some buyers qualify, the exemption shrinks to their share.	Province of BC example: an $835,000 newly built home bought by two people where one qualifies. $7,350 to pay instead of $14,700.

For a full breakdown of every BC buyer savings program, including first-time buyer exemptions, the newly built home exemption, and the GST rebate rules, see the Tax Rebates for Multiplex Buyers in BC guide.

Sources: Province of BC, “Property transfer tax” (last updated December 3, 2025), “First time home buyers' program” (June 20, 2025) and its exemption amounts (December 3, 2025), “Newly built home exemption” (January 6, 2026) and its exemption amounts (December 3, 2025). Canada Revenue Agency, RC4028 GST/HST New Housing Rebate guide, Rev. 26 (modified March 13, 2026). All read October 9, 2026.

Exit Planning

What Happens If One Family Wants to Sell?

Life changes. Jobs move. Families grow or downsize. The exit is the part most co-buyers avoid planning for, and in our view it is the part most worth planning.

Separate strata homes: separate titles

If each family owns its own strata home, registered as its own legal title, one family can list its home for sale without the other family's approval. Your mortgage is separate. Your title is separate. The sale money is yours.

Your agreement between the families can still include a right of first refusal: before listing on the open market, the selling family offers the other family the chance to buy at the same price and terms. This keeps the building in family hands if the other family wants it.

One home, one shared title

If you hold one home as tenants in common, selling takes more coordination. In our view, few buyers on the open market want to buy a share of a home they would own with strangers.

In practice, the exit options are: the remaining family buys out the departing family's share, or both families agree to sell the whole home. Your co-ownership agreement should set a buyout process and deadline, a valuation method (an independent appraisal), and what happens if the families disagree on price.

Right of first refusal: the exit clause to include

A right of first refusal means that before the selling family can list its home or share on the open market, it must first offer it to the other family at the same price and on the same terms. The other family gets a set number of days, written into the agreement, to decide. If they decline, the seller is free to list publicly.

Without this clause, the family next door could sell to a stranger you have never met. A right of first refusal gives you the first chance to prevent that.

The bottom line

In our view, buying a multiplex home with family is one of the most sensible moves for households that cannot reach Vancouver or Burnaby prices on one income. Two households combining incomes, down payments and shared costs can buy into a home, and a neighbourhood, that neither could afford alone.

The legal side is manageable, and it has to be done. Choosing between tenants in common and joint tenancy affects your estate planning and your exit options. The co-ownership agreement is the document that turns a handshake arrangement into a lasting legal one.

The tax picture rewards planning. Property transfer tax exemptions shrink to the share of the buyers who qualify, and only one first-time buyer can claim the GST rebate. A good lawyer and a tax accountant who knows real estate are worth consulting before you sign anything.

Plan the exit before you need it. A right of first refusal and a written buyout process are simple to add to your co-ownership agreement, and they settle in advance what happens when one family wants out.

Ready to explore this path? Read the Multi-Generational Living guide for the lifestyle side, review Financing Your Multiplex for the full mortgage picture, or talk to our team and we will help you find the right home for your family's situation.

Data: MultiLiving count of active MLS® listings in Vancouver and Burnaby, October 28, 2026. Financial Consumer Agency of Canada, down payment rules. CMHC premium schedule. Province of BC property transfer tax pages. Canada Revenue Agency RC4028. Strata Property Act and Partition of Property Act (BC Laws). All read October 9, 2026.

General information only. The down payment examples, mortgage insurance premiums, property transfer tax calculations and GST rebate rules on this page are illustrative and based on rates and rules as of the dates noted. They are not financial, mortgage, tax, or legal advice, and not a guarantee of qualification or any outcome. Mortgage insurance rules, tax thresholds and rebate rules change. Always consult a licensed mortgage broker, a tax professional and an independent real estate lawyer before making any purchase or financing decision.

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Summary

Key Takeaways

Two household incomes on one mortgage application can raise how much you qualify to borrow, and every borrower's debts count too.
Tenants in common is more flexible than joint tenancy: each owner holds a set share and can leave it by will.
Put a co-ownership agreement in writing before you buy. Without one, a co-owner can ask the court to order a sale.
Property transfer tax is worked out once on the whole home's value. Exemptions shrink to the share of the buyers who qualify.
For the first-time buyers' GST rebate, one buyer must be a first-time home buyer, and only that person claims it.
When each family buys its own strata home, each holds a separate title and can sell without the other's consent.

Common Questions

Frequently Asked Questions

Can two families buy a multiplex together in BC?

Yes. Two families can buy multiplex homes together in BC in two ways. Each family can buy its own strata home, with its own contract, mortgage and title under BC's Strata Property Act. Or the families can buy one home together and register it as joint tenants, where the shares are equal and pass to the surviving owners, or as tenants in common, where each owner holds a set share and can leave it by will. Most new multiplex homes are sold as separate strata homes.

Do all co-buyers need to be first-time buyers for the GST rebate?

No. For the first-time home buyers' GST/HST rebate, at least one buyer must be a first-time home buyer, the home must be that person's main home, and that person must be the first to live in it, according to the Canada Revenue Agency's RC4028 guide. Only that first-time buyer can claim, and the cheque is issued in their name alone. The rebate is up to $50,000 on a new home at or below $1 million, gets smaller above that, and is gone at $1.5 million.

What is a co-ownership agreement and do I need one?

A co-ownership agreement is a private contract between people who own a home together. It sets out each owner's share, how costs are split, how decisions are made, and what happens if one owner wants to sell or stops paying. In our view, every family co-purchase needs one. Without it, BC's Partition of Property Act lets an owner of half or more of the home ask the BC Supreme Court to order a sale, and the court must order it unless it sees good reason not to (section 6).

How does property transfer tax work when two families buy together?

BC's property transfer tax is worked out once, on the fair market value of the whole home, according to the Province of BC: 1% of the first $200,000, 2% of the value up to $2,000,000 and 3% above that. On a $1,798,000 home, the middle half duplex asking price in our October 28, 2026 count, the tax is $33,960. Split 50/50, that is $16,980 for each family. Write each family's share of this cost into your co-ownership agreement.

Which property transfer tax exemptions can co-buyers of a new home use?

Two exemptions can apply, and both depend on the value of the whole home, according to the Province of BC. The Newly Built Home Exemption removes the tax on a new home worth $1,100,000 or less, with a partial exemption up to $1,150,000, for buyers who are Canadian citizens or permanent residents and move in within 92 days. The first time home buyers' exemption covers homes worth $835,000 or less, partial to $860,000. If only some buyers qualify, either exemption shrinks to their share.

How much down payment do two families need for a multiplex home?

The minimum depends on the price of the home. Under the federal rules published by the Financial Consumer Agency of Canada, one home needs 5% of the first $500,000 and 10% of the rest up to $1.5 million, and 20% at $1.5 million or more. On a $1,400,000 home that is $115,000. On a $1,798,000 home, the middle half duplex asking price in our October 28, 2026 count, it is $359,600. Two families can split that amount in any shares they agree.

Do we need mortgage insurance if two families buy together?

If your combined down payment is under 20%, plan on it: the Financial Consumer Agency of Canada says that with less than 20% down "you'll typically need to buy mortgage loan insurance." CMHC's premiums for an owner-occupied home of 1 to 4 units run from 2.80% to 4.00% of the loan. On a $1,400,000 home with the minimum $115,000 down, the loan is $1,285,000 and the 4.00% premium is $51,400, which can be added to the mortgage. Pooling to reach 20% down avoids that cost.

What happens when one family wants to sell their share?

If each family owns its own strata home, each can sell on its own, because each has a separate title under BC's Strata Property Act. If the families own one home together, the others can buy out the departing share, or everyone agrees to sell. If they cannot agree, BC's Partition of Property Act lets a co-owner ask the BC Supreme Court to order the home sold. Your co-ownership agreement should set the buyout steps, how the home is valued, and a deadline, before you buy.

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