Here’s how it works. You are able to purchase a completely renovated CLT home for a significantly lower price because the land remains part of the Land Trust. In exchange, when you decide to sell your home you agree to sell it for an affordable price. This allows another individual or family to have the same opportunity as you and to achieve their dream of homeownership.
Why Buy a CLT Home
• Affordable – sales price is based on a monthly payment that is affordable for you.
• Quality – extensive professional rehabilitation is completed before you buy the house.
• Support – help with initial purchase & on-going support to help ensure your success as a homeowner.
Two Ways to Buy a CLT Home
1. Buyer Driven
– You select a house to buy (within a specific area and according to certain requirements)
– Newtown buys the house and completes rehabilitation
– You purchase the house from Newtown
2. Existing CLT Home (view homes for sale)
You Can Currently Buy CLT Homes in the Following Areas:
• Chandler – 85224, 85225, 85226 north of the 202 (WISH funds can be used to buy a CLT in Chandler)
• Tempe – anywhere (CAMP and WISH funds can be combined to buy a CLT home in Tempe)
How to get started:
1. Look at the Eligibility Requirements to find out if you are eligible to buy a CLT house.
2. Submit an Application Form and a representative will contact you to discuss the next steps.
3. Attend a CLT Orientation; a one-hour workshop where you can learn all about Newtown’s CLT program. Check our events calendar for the next scheduled workshop.