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Making a Difference

Ourboro’s Impact

As a social impact organization, we aim to increase access to homeownership, and all of its associated benefits. So we asked ourselves:

Does participating in a shared equity model improve a person’s quality of life?

Our Impact by the Numbers

Our Homeowners

At Ourboro, we’re dedicated to levelling the playing field, unlocking homeownership for those that would otherwise be left out. Based on applicant data, we learned the following about our homeowners:

59%

identify as visible minorities

61%

were born outside of Canada

1 in 5

identify as a religious minority

Quality of Life1

When researchers from Conestoga College compared Ourboro homeowners to Ontario renters across multiple categories, our homeowners scored:

97%

higher when asked about their home’s condition

146%

higher when asked if their home meets their needs

97%

higher when asked about their home’s condition

227%

higher when asked if their home meets their needs

227%

higher in feelings of neighbourhood belonging

3x

higher in life satisfaction

37%

lower in feelings of neighbourhood disorder

Neighbourhood Outcomes1

We then compared Ourboro homeowners’ new neighbourhoods to their old ones and found that they’re moving to areas where:

Illustration of commuting vehicles

Residents have shorter commute times

Homes are more suitable to residents’ needs

More families meet the definition of affordable housing 5

Illustration of commuting vehicles

Residents have shorter commute times

Homes are more suitable to residents’ needs

More families meet the definition of affordable housing 5

Economic Resiliency

Beyond the personal benefits, homeownership also contributes to wealth creation:

80.6%

of Ourboro clients were more likely to say that their economic situation would improve in the coming year 1

$270K

expected rise in co-owner net worth per household over the next 10 years

 

Barriers to Homeownership

Many people, particularly those from marginalized communities, face significant barriers to entering the housing market. Balancing the playing field to help these communities access homeownership is one of Ourboro’s key impact objectives.

Homeownership is a distant reality for many visible minorities

RATES OF HOMEOWNERSHIP (Sourced from: RBC Economics, Statistics Canada 2016 Census)

The Down Payment Gap

Those without access to intergenerational wealth are also left behind. During an initial survey conducted with researchers from Conestoga College and the University of Waterloo, it was found that:

45%

of renters feel saving enough for a down payment is one of the biggest barriers to homeownership

20%

of renters plan to buy a home in the next 12 months, but it’s likely that only 5% of them will be able to

The Benefits of Homeownership

Health & Well-being2

Compared to renters, homeowners:

Illustration of social interaction

Engage in more social interaction

Illustration of high five

Have more trust in their neighbours

Are more likely to live in good quality housing

Illustration of 3 money bags. The one in front has a heart on it, while the two in the back have a dollar sign.

Experience greater residential stability

Civic Engagement3

Compared to renters, homeowners are more likely to:

Illustration of protest

Be politically involved

Illustration of community

Volunteer in their community

Illustration of 3 money bags. The one in front has a heart on it, while the two in the back have a dollar sign.

Participate in fundraising for a charitable cause

Civic Engagement3

Compared to renters, homeowners are more likely to:

Illustration of protest

Be politically involved

Illustration of community

Volunteer in their community

Illustration of 3 money bags. The one in front has a heart on it, while the two in the back have a dollar sign.

Participate in fundraising for a charitable cause

Wealth Creation4

Compared to renters, homeowners will accumulate a larger net worth over time:

Chart comparing net worth growth
Illustration of a hand holding a moneybag
Average homeowner net worth

$1.2M
greater than non-homeowners

The Baseline Ourboro Impact Study

In our quest to deliver lasting impact to our stakeholders, we’ve partnered with researchers from Conestoga College Institute of Technology & Advanced Learning on a ten-year longitudinal study. This study explores whether participation in a shared equity model significantly enhances a person’s quality of life compared to renting. By surveying both Ourboro homeowners and a control group over 10 years, we will assess their quality of live across seven key areas:

• Overall happiness
• Economic resiliency
• Engagement in community life
• Access to high-quality education
• Perceived neighbourhood safety
• Access to adequate housing conditions
• Institutional trust

We look forward to the next 10 years of this partnership and hope to shed even more light on the tangible benefits of co-ownership through the Baseline Ourboro Impact Study.

Download Study Summary
Conestoga and Ourboro Logos

1: “The Baseline Ourboro Impact Study”, Conestoga Social Innovation Lab, 2024.
2: “Racial and ethnic stratification in the relationship between homeownership and self-rated health”, Social Science & Medicine, Volume 115, 2014.
3:
“How does homeownership contribute to social and civic engagement?”, Habitat for Humanity International, 2023.
4: “Survey of Financial Security (SFS)”, Statistics Canada, 2020.
5: Affordable housing: Paying no more than 30% of before-tax monthly income toward housing.

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