“Recycle” Home Project in Ellsworth
Recognizing that our Partners may have a change in job, life circumstance, etc., Habitat’s mortgages allow that a home may be sold at any time under certain provisions. If the original occupant chooses to sell the home, Habitat has the first right of refusal (the option to buy it back before anyone else)—less any outstanding mortgage amounts still owed and less any increase in equity shared between the Partner and the affiliate. Along with a forgivable 2nd mortgage, the first right of refusal helps to protect the investment in the home by volunteers & donors and allows Habitat to retain the home as an affordable unit of housing.
Built in 2010, the home is refreshed for its next occupant(s) through our traditional model of volunteer support and the qualified Partner(s)’ sweat equity. The original floorplan will be slightly modified to allow for any future ADA accessibility needs of the applicants.