Affordable Housing BuyBack Program

What is the BuyBack program?

The Affordable Housing BuyBack program allows Habitat homeowners to sell their homes back to Habitat  PKR if they decide to move due to life changes, such as relocating, growing their family, or pursuing new opportunities. This ensures that Habitat homes continue to provide affordable housing for other families in need, rather than being sold on the open market at unaffordable prices. The BuyBack program is an essential part of our mission to create lasting, affordable homeownership opportunities for families and individuals in our community.

How Does It Work?

🤝Selling Back to Habitat: When a Habitat homeowner decides to move, Habitat PKR buys back the home at its current fair market value.

💲 Equity for the Homeowner: The homeowner receives the equity they’ve built over time, enabling them to pursue their next steps—whether that’s buying a home on the open market, starting a new chapter, or achieving other meaningful life goals.

🔨Renovating the Home: Habitat PKR takes care of any necessary renovations to ensure the home is ready for the next family.

🏡Welcoming a New Family: The home is re-sold to another qualifying Habitat family, using Habitat PKR’s affordable homeownership mortgage model, continuing the cycle of affordable homeownership.

How the BuyBack program amplifies Habitat PKR’s impact

The BuyBack program allows Habitat PKR to maximize the use of existing Habitat homes, especially as multi-unit condos have become a key part of builds. This creates new opportunities for families to achieve affordable homeownership, even when there aren’t active builds underway.

Every BuyBack is a testament to the stability a Habitat home provides. A former homeowner uses their equity to move forward, and the home becomes a fresh start for another family to build strength, stability, and self-reliance.

By keeping homes in Habitat PKR’s affordable homeownership program, we ensure affordable housing stays within reach for families in the Peterborough and Kawartha Region.

Affordable Homeownership Opportunities 

The BuyBack program offers affordable homeownership opportunities that might be a perfect fit for you—even if we’re not currently building or if our current builds don’t meet your family’s specific needs.

If you’ve been thinking about applying for affordable homeownership, now is the time! Your journey could start with a Habitat buyback home, where you’ll enjoy the many benefits of affordable homeownership: stability, equity building, and more!

Apply today and take the first step toward your new home!

For more information, contact homeownership@habitatpkr.ca