Habitat for Humanity
Once again Team Johnston spent an awesome day working at a Habitat for Humanity job site. It’s great to be able to have fun and give back at the same time. We were able to put together a much bigger crew this year – 14 of us spent the day helping out wherever we could. They had just completed a number of homes and we had the privilege of watching 8 families receive the keys to their new homes. That meant there wasn’t a whole lot of building going on but they found plenty of odd jobs for us to do.
Habitat for Humanity Edmonton believes, as do we, that home ownership brings security, stability, and many other benefits to families. Habitat homes are built by volunteers and donors and sold to qualified families. Habitat holds the mortgage, charges no interest and amortizes the mortgage for as many years as necessary to ensure families pay no more than 25 percent of their income for housing. Their philosophy is to give a hand up, not a hand out. Families must have children living at home, meet certain income requirements, volunteer for 500 hours, keep the home and yard in good condition and meet a number of other requirements to qualify for the program.
About Sara MacLennan
Sara MacLennan is the Director of Marketing at Liv Real Estate and a licensed Real Estate Associate. The bulk of Sara’s experience and wealth of expertise lies in on-line technology and marketing both for agents and consumers. Sara is the former National Director for Interactive Marketing for Coldwell Banker Canada where she was responsible for an extensive training program traveling to offices across the country training agents and brokers on marketing and technology. Find Sara on Twitter @edmontonblogger.
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I’ve always been curious about how that works. When they sell, do they get to keep the equity?