Recently, Isles was introduced to Felicia, an Isles Home Buyer Workshop participant who will buy her first home this month. Her new place is a formerly vacant, now beautifully restored, affordable and energy efficient 120 year-old home on Stockton Street in Trenton. And she’s excited.
But didn’t we just learn from the recession that homeownership can hurt working families?
The answer to that is yes. But if we are smart, this can be a great time to buy a home. If we provide quality homes that cost little to operate in places that are stable, with good low cost mortgages to prepared buyers, then the benefits of homeownership become clear – for buyers and the entire community.
Isles’ goal is self-reliance, and homeownership can offer both stability and ‘forced savings’, both key to building self-sufficiency. To be successful, new homeowners benefit from housing and budget counseling and workshops. Since 2003, Isles has counseled and trained more than 1,500 prospective home buyers.
Homeowners create more stakeholders in a community, if the conditions are right. The magic is in knowing those conditions. Having 32 years of experience really helps.