Homeworks/Permanently Affordable Homes

Homeworks homes are new construction and re-sale homes sold at below market-rate prices to income eligible buyers.  The homes are permanently affordable, and appreciation is limited and calculated on an annual basis.

Homeworks homes become available in several ways:
-  through new development,
-  existing affordable housing offered through resale
-  acquired through our First Home program.

Most of the new development homes are built as a requirement of Inclusionary Housing:  Inclusionary Housing Ordinance.

Homeworks homes are sold at below market-rate prices affordable to low and moderate income buyers.  There are also higher priced middle income homes for buyers with higher incomes. The buyer's income cannot exceed the maximum income allowed for each available home.

Homes are permanently affordable and governed by a Covenant. The buyer must accept all the terms and conditions of the Covenant.

Resale prices are restricted to keep these homes affordable into the future. The value of the home may increase based on the resale formula. Annual appreciation is based on the annual change of the Area Median Income or the Consumer Price Index, whichever is less, up to a maximum of 3.5 percent per year with a minimum of 1 percent. Check out how the indexes have changed since 1986.  

Homes for Sale: For a list of homes currently available, complete with property descriptions, maximum income to qualify for the home and contact information, Click here

To Apply: To purchase Homeworks homes, you must complete an Income Certification application. Read more

To Qualify for Homeworks: Certain qualifications are required for all of the City of Boulder's homeownership programs.    Read more

Lotteries: Lotteries apply to new developments and to resale properties in the Homeworks program.  Read more

Covenant: Homeworks buyers must accept all the terms and conditions of the Covenant. Resale prices are restricted to keep these homes affordable into the future. Read more

Last Updated on Tuesday, 16 April 2013 10:16