Self-Assessment – Are you ready for home ownership?
Home ownership can bring stability and security, but it also comes with added responsibilities. The following questions can help you determine if you are ready for the responsibilities of home ownership, and if you are willing to partner to achieve home ownership through the Habitat program.
Are you and your household members ready, willing, and able to:
- Complete 300 sweat equity hours, helping to build your home and other people’s homes, and attending required homebuyer education classes? (Construction shifts are Tuesday – Saturday, 8:30-11:30 am and 12:00-4:00 pm).
- Work on the Habitat construction site in weather that may be cold, hot, or unpleasant? We are active in construction all year – outdoors from April through January, and indoors February and March.
- Save $1,500 to pay for closing costs and expenses?
- Make a long-term commitment to live in the same home for several years? When you own a home, moving or re-locating is much more complicated. There are some re-sale restrictions and policies with a Habitat home. The longer you stay in your Habitat home, the more equity you will build.
- Accept the lot assignment and home style/design offered to you by Habitat? Habitat is not a custom builder.
- Make mortgage loan payments on time each month? Just like other lenders, Habitat for Humanity will foreclose on homeowners who become delinquent in their payments.
- Budget for ALL the monthly expenses of home ownership, including but not limited to: water, heat, electricity, garbage, property taxes, and homeowner’s insurance?
- Budget for replacement of household items that wear out, including flooring/carpet, windows, appliances, furnace, etc?
- Perform your own home repairs or hire someone to make repairs at your expense? As a homeowner, you must manage any problems or repairs yourself. There is no landlord to call.
- Spend hours of your “free time” keeping the house in good condition (yard work, shoveling, painting, cleaning, repairs, etc.) instead of doing other things you enjoy?
If you answered YES to all the questions above, you may be ready to become a homeowner through partnership with Habitat! Please review the SELECTION CRITERIA to learn more about our program.
If you answered NO to any of these questions, that is okay! Home ownership through the Habitat program is not for everyone, and it is best to think about it carefully before you apply!