What Are The Benefits of CLT Homeownership?
There are a number of benefits to purchasing a house through a Community Land Trust (CLT):
Affordability – Land Trust homes are more affordable than homes purchased on the open real estate market and provide a sense of stability and community in owning a community land trust home.
Mortgage – Consistent housing payments allowing the homeowner to build equity, receive federal tax deductions for mortgage interest and property taxes and offer an inheritance to heirs.
Community – The 99-year Ground Lease ensures that CLT homeowners will have the support of the land trust community and the community in which they reside, through voting, volunteering and becoming a HWR committee or board member.
Support – CLT homebuyers have the support of CLT staff and other homeowners. In addition, the CLT is available to assist CLT homeowners with resources regarding financial problems and foreclosure prevention.
Stability – Homeownership provides housing for working families promoting stable families and a strong community through housing and economic growth for all.