Habitat’s Buy Back program: how Habitat Edmonton amplifies our impact and generational change.
At Habitat Edmonton, we empower families to make positive, generational changes through affordable homeownership. By providing a hand-up into homeownership, parents can exit the rent cycle and gain control of their future.
One of the ways we serve families in our community is through our Buy Back program (see video). In 2005, a forward-thinking group of leaders initiated the first buy-back program in Canada.
This sustainable program provides Habitat with the option to repurchase a home from a family when they are ready to transition into market homeownership or move on to other meaningful life goals. The home is then renovated, if necessary, and used to serve another family.
One home will remain in Habitat’s affordable housing pool, allowing us to serve families for generations. To date, over 280 families became homeowners through the Buy Back program (which comprises 44% of the number of families we have served).
The cost to serve a family through the Buy Back program is a fraction of what it costs to serve a family through new construction. Over the past five years, we have served an average of 30 families a year through Buy Backs.
By fulfilling the needs of our communities
, Habitat Edmonton is making positive, long-term changes. Read more.