Our Model
Habitat’s affordable housing model fills the gap in the housing ecosystem. We provide a pathway to homeownership, opening access to the housing market for the increasing number of families being priced out.
The gap in the housing continuum: AFFORDABLE HOMEOWNERSHIP
Our model offers a viable alternative to market rental housing, which does not generate any wealth for tenants. Families purchase Habitat built homes financed with a zero down payment and zero interest mortgage provided by Habitat, making homeownership both attainable and affordable for the long-term. Further, by providing working families a bridge to affordable homeownership, our program helps reduce social housing waitlists and reliance on other community services.
How Our Model Works
Our innovative model drives attainable and affordable homeownership:
Buying Back Habitat Built Homes
Ensuring Habitat-built homes remain affordable and attainable long-term
While the Habitat Model has many benefits for new homeowners, sometimes life circumstances cause changes out of our control. Habitat homeowners may sell their homes at any time and when they do decide to sell, Habitat Grey Bruce has the right of first refusal to buy it back and sell it to another qualifying family.
By repurposing existing homes, we are able to significantly reduce costs compared to new construction. Also, homes repurchased from previous Habitat homeowners can be refurbished and made available to qualifying applicants much faster than it takes to build a new home. Such immediacy not only expedites the path to homeownership but also enables families to settle into their new lives more quickly.
Our buyback program ensures the homes we build are both attainable and affordable long-term. In essence, buybacks exemplify a model of sustainable and impactful housing provision.