Does Habitat for Humanity homes lower neighborhood property values?
Many studies of low-cost housing show that affordable housing has no adverse effect on other neighborhood property values. In fact, Habitat for Humanity believes its approach to affordable housing can greatly improve neighborhoods and communities by strengthening community spirit, increasing the tax base, and building better citizenship through the cooperative efforts involved in Habitat construction. Can Habitat homeowners sell their homes and make a large profit because of the original cost? Habitat protects the equity in the home through restrictive mortgage documents and deed restrictions. Through these documents the dream of homeownership is made possible, while a windfall profit to the homeowner if resale becomes necessary is restricted. In essence, a Habitat homeowner does not realize the full equity of the home until the mortgage is paid off over a 20 year time period. Through these restrictions, Habitat is able to sustain the affordability of our homes. How does Habitat benefi
