FERGUS – With so many people unable to find affordable housing, Kathryn Stokes is a little puzzled as to why there isn’t more interest in purchasing one of the Habitat for Humanity Guelph Wellington homes under construction in Garafraxa Village in Fergus.
“I think people think Habitat homes are only for families,” said Stokes, director of housing partnerships for the agency.
“But we support housing for all household structures – families, singles, seniors. They are available to anyone who fits the criteria.”
The main criteria: that a person or family is living in unsafe, unsuitable or unaffordable housing; that they can’t qualify for a conventional mortgage; that they are willing to partner with the agency as a volunteer and as an ambassador; and that their household income is between $65,000 and $130,000.
Stokes said Habitat for Humanity is getting lots of applicants from Guelph, but those folks don’t want to uproot and move to Fergus when their lives are centred in Guelph.
She’s hoping to drum up more interest from people already living or working in Centre Wellington.
“I want to do more outreach in Centre Wellington,” Stokes said. “This is a great opportunity for home ownership. We are here for those who can’t get into the market on their own.”
Garafraxa Village, on Garafraxa Street in Fergus, will have three blocks of three-storey stacked townhomes for a total of 32 units.
They come in two-, three-, and four-bedroom options and each unit comes with one parking space, in-suite laundry and private balconies for above-grade units. Six of the three-bedroom units are accessible.
The units will be sold at market value – around $400,000.
Some buyers won’t need the deal Habitat is offering but for those who do, here’s how the affordable home ownership program works:
- Habitat for Humanity offers flexible down payment options that may include “sweat equity” by volunteering up to 500 volunteer hours per family. Down payment options are catered to the specific family, Stokes said; and
- dual mortgages. The first mortgage is through a conventional lender, but mortgage payments are no more than 30 per cent of the family income. Habitat holds the second mortgage and no payments are required for 20 years.
“There’s no gottcha,” Stokes said. “The main selling point is the flexible down payment and payments geared to income.”
If a family decides to sell their home, Habitat gets first right of refusal.
“We would likely purchase it back at market value,” Stokes said. “The appreciation (in value) would be shared.
“We would hope they could pay us out as they move to independent home ownership.”
Stokes said about half of the units in the affordable home ownership program are still available, as are some of the market-priced units.
Occupancy is expected to begin in two of the townhouse blocks by the end of 2025 and the third block should be complete in 2026, she said.
Construction has continued over the winter but should be ramping up now that warmer weather has arrived.
Anyone interested in the program is encouraged to apply at habitatgw.ca/apply. To learn more about Garafraxa Village, visit garafraxavillage.ca.
