We wanted ot share this exciting pilot project, aiming to help three households attain homeownership by working together to build their own homes in Springfield, Oregon. It's a project by Cultivate and Backyard Barnraising 01 LLC, and they are currently seeking households interested in participating in the pilot project:
"We’re currently looking for aspiring first time homeowners to join us. This coming spring, on a lot near downtown Springfield, we’re planning to bring together three households, and guide you in building your own homes together as a team, from foundation to drywall. After about 14 months of construction, if all goes to plan, you’ll have the opportunity to purchase the homes, and then enjoy a living space including 2 bedrooms, 1 1/2 bathrooms, and kitchen space.
Total monthly payments are estimated at $700 per month (and no landlord!). Each household needs one Owner-Builder, one Wage Earner, and $12,000 in earnest money, refundable in most circumstances. The Owner-Builders will work full-time, unpaid for the 14 or so months it takes to build the homes. Wage Earners will continue regular employment—earning somewhere around $20,000 to $35,000 per year. This is designed so that the three households together may qualify for a conventional mortgage to buy the property after construction."
Learn more about building homeownership together at: