With over 40 years of housing experience, Home Opportunities founder, Mike Labbé has now developed a model that allows people with incomes as low as $20,000 to become homeowners.
Here's how we do it...
Using a non-profit model, Home Opportunities transfers all surplus/profits to Community Wealth - a co-operative that's purpose is to hold capital and re-invest it back into providing more cost effective housing, job creation, and education.
Down Payment Loan
Through Community Wealth, we are able to take these savings and turn them into a loan for purchasers of up to 20% or more towards their downpayments. The loans do not have to be repaid as long as you live in your home.
By providing basic but high quality finishes, eliminating expensive amenities, optional upgrades, simplifying our designs, and using other unique innovations we are able to produce the most cost effective buildings.
Reduced Fees & Expenses
Our developments all feature amenity spaces including meeting rooms, exercise rooms, and a terrace but cut out extremities like a gyms, pools and saunas. These savings are passed on to you through lower initial costs of the unit and monthly condo fees.
By cutting presentation centers and costly advertising methods, Home Opportunities saves thousands of dollars per unit. We are focused on simple advertising methods, and information sessions that allow everyone to ask any and all questions.
Over the years, we have successfully established governments partnerships at the municipal, provincial, and federal levels. These partnerships are a key part of the model and we wouldn't be able to produce the prices we can without them.