Company aims to bridge Canada's homeownership gap
Zown, a technology-driven real estate brokerage, has announced expanded offerings aiming to help address Canada’s growing housing affordability crisis. Following a reported 400% growth since becoming a brokerage in 2023, the company unveiled two new apps and a partnership with Cedar, a leasehold provider aiming to reduce financial barriers for homebuyers.
Zown’s CEO and co-founder Rishard Rameez emphasized the importance of addressing challenges in the housing market. “Homeownership has long been a cornerstone of building wealth, yet for many Canadians, it feels increasingly out of reach,” he said.
“We are committed to addressing these challenges by providing innovative products and services that simplify the process and empower Canadians at every stage of their journey. With the right tools and support, we believe homeownership can be a realistic and achievable goal for everyone.”
New partnership
Central to Zown’s expansion is its exclusive collaboration with Cedar, whose leasehold model separates the cost of land ownership from the purchase of a home. Under this model, Cedar acquires the land, while homeowners purchase the structure and lease the land for up to 99 years. A news release highlighted this approach aims to make homeownership more affordable in high-demand regions where land costs often drive prices beyond reach.
Patrick Lee, Cedar’s head of Canada, highlighted the benefits of the model. “By separating the cost of the land from the home itself, we lower the financial barriers that have made homeownership out of reach for so many Canadians,” said Lee.
The partnership builds on Cedar’s success in the United States, where the leasehold model has helped buyers overcome high down payments and other financial hurdles.
New tools for prospective homeowners
To further assist Canadians, Zown introduced a budgeting app and a home-buying app.
The budgeting app, launching in spring 2025, gamifies the process of saving for a home. It allows users to set personalized goals, track progress, and celebrate milestones. This tool aims to provide transparency and flexibility, addressing concerns over Canada’s rising home prices and lengthy savings timelines.
The homebuying app, now available, offers a personalized property search experience. Features include:
- AI-powered property matching for tailored recommendations.
- A valuation tool projecting potential property appreciation over two years.
- Tools for smart offer suggestions and acceptance probability to guide competitive bids.
- Instant showing scheduling with local realtors.
- Mortgage pre-qualification in partnership with Equifax and major banks, completed within minutes.
The company said the apps are designed to simplify the often-complex homebuying process while providing actionable insights to prospective buyers.
Addressing the affordability gap
Canada’s housing affordability crisis remains a significant barrier for many, despite recent interest rate cuts. Rising home prices and stringent mortgage requirements mean that first-time buyers may face years of savings just to meet minimum down payment thresholds.
Zown and Cedar’s combined initiatives aim to address these challenges head-on. Zown’s Down Payment Boost program, which returns 80% of commissions to buyers, complements Cedar’s leasehold model by enabling home purchases with little to no upfront cash from buyers.
Since 2023, Zown has facilitated over $100 million in transactions and provided $3 million in down payment assistance, helping over 200 Canadians achieve homeownership. The company aims to assist more than 1,000 homebuyers by 2026.
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