Backyard Barnraising Pilot Project

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:

www.backyardbarnraising.com

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