Is Kohab the key to home ownership?
The world’s first digital platform, community and marketplace for co-ownership has launched in Australia.
Single property ownership has become out of reach for many. Young people, who otherwise want to buy property, are often forced to live with their parents due to rapidly increasing property prices, which have outstripped wage growth. That’s where Kohab comes in.
Kohab helps friends, family and like-minded buyers purchase a home together. It connects buyers with the right properties, agents, lawyers, mortgage providers and other experts to facilitate owning together.
Kohab Founder and CEO David Dawson said co-ownership may hold the key to reigniting the dream of homeownership and allow many Australians to take the first step on the property market ladder.
“The phenomenal growth of brands such as Uber and Airbnb have clearly demonstrated that the share economy is alive and thriving,” Mr Dawson said.
“These types of concepts have created a seismic shift in how society views co-sharing in general.”
Kohab will help potential buyers in three main ways: by co-living (whereby one or both parties choose to live in the property), co-investing in property, and thirdly co-lifestyle; facilitating two or more parties to share a holiday home or second home.
The platform’s simple processes will steer buyers through the key steps to co-ownership; including the Kohab co-ownership agreement. This standardised legal agreement has been specifically developed by legal firm Sparke Helmore (in collaboration with Kohab), to provide a safe, transparent and secure way to buy and (sell) property together.
Co-buyers are also referred to Kohab's mortgage and insurance partners, helping them navigate through the co-ownership journey in an easy to follow, step-by-step format.
Already in development and coming soon, the platform will also enable existing property owners to unlock equity and sell a portion of their property, which may appeal to existing investors or an older demographic.
“With Sydney and Melbourne now ranking the 2nd and 5th most unaffordable cities in the world, Kohab will offer one of the key answers to the housing affordability issue in Australia. We want to see more Australians ultimately owning their own home, and we are committed to educating the market on co-ownership options and facilitating those opportunities.”
The company is led by two founders; David Dawson (Founder and CEO), former Managing Director and Chairman of Profusion Group, and Darren Clark (Co-Founder and Technical Director), Founder and Technical Director at a digital agency which was acquired by J. Walter Thompson Sydney in 2015. The official launch was attended by special guest the Hon. Gladys Berejiklian MP, Premier of NSW, and key Kohab partners and stakeholders. More info here.
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