The deal sounded too good to be true: Korkoya and Razafiarisoa could, if they qualified for a mortgage and met other conditions, buy a home from the organization for only $2,000 down. Thats less than one per cent of the $240,000 price of an average Calgary condo or townhouse unit. Rising housing prices in Canadian cities create a huge barrier for potential homeowners. The organization Attainable Homes in Calgary has come up with an innovative model that makes home ownership more accessible and affordable. But the deal was real. There is a catch: buyers who take advantage of the offer must give back some of whatever profit they make when they eventually sell their unit -- a variety of paying it forward that Attainable Homes will use to fund future first-time buyers. thetyee.ca/News/2014/12/12/Calgary-Homeownership-Hack/?utm_source=daily&utm_medium=email&utm_campaign=121214
Posted on: Sun, 14 Dec 2014 16:00:00 +0000
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