1300 Canyon Blvd
Boulder, CO 80306
(use the door on the Northeast corner)
City of Boulder
P.O. Box 791
Boulder, CO 80306
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:
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.
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