The American Dream belongs to all of us 🏡
For generations, homeownership has been a cornerstone of the American Dream. However, systemic issues such as redlining and racial covenants have been barriers to this dream for Black families, indigenous families and families of color. Habitat’s model provides access to homeownership opportunities for all families. And yet, as we celebrate National Homeownership Month in June, the dream of having stable and affordable housing is quickly fading for so many families in the Capital District.
Here’s the challenge...
Over the past two years, the combination of low housing inventory, record low interest rates, and global supply chain issues has been a perfect storm to make affordable housing scarcer than ever before.
Sadly, the cost of home has become out of reach for even more local families, forcing them into substandard, unstable or overcrowded living conditions. And worse, the housing crisis has caused families to leave our community altogether.
In today’s housing market, low- to medium-wage jobs make it nearly impossible for a working family to afford a decent place to live, much less purchase a home of their own in the open market. We need your support now to bring homeownership within reach to more of our neighbors.
At Habitat for Humanity Capital District, we have seen first-hand how decent and affordable homes create better opportunities for children and their parents. With each move into a new apartment, future Habitat homeowners Sam and Maria faced high rents and cramped living spaces. Wherever they turned, a safe and affordable home was nowhere in sight.
This began to change the day they learned about Habitat’s program.
When the application cycle opened, Sam and Maria applied and were accepted into the program based on their need for affordable housing, their willingness to partner with Habitat through sweat equity and pre-purchase homeownership education, and their ability to pay an affordable mortgage.
Last year, Sam and Maria purchased and moved into their very own Habitat home. After moving in, they could feel a difference in their mental, emotional and physical well-beings.
"Owning a Habitat home has brought us great peace of mind. We no longer have the stress of rent increases, frequent moves, and raising our kids in a place that is unsafe. The affordability of our home has made us healthier. We can now afford to buy nutritious foods and we spend time outside running around with our kids and playing.
Our home has brought our family closer together. Every night, we sit down and enjoy dinner together, talking about how grateful we are to everyone who helped us achieve a dream we never thought possible. It feels so good to say it...we are finally homeowners!"
In an energy-efficient Habitat home with an affordable mortgage and low maintenance costs, families like Sam and Maria’s have better health, more financial freedom, and the stability and security that far too many families simply can’t achieve through renting.
As always, a gift to Habitat will give more families in the Capital District the opportunity to buy their own homes. Your donation is an investment that will provide families with a hand up. Here’s how:
When partnering with Habitat, as family is accepted into the program as we break ground and begin building their future home. They spend months working on their sweat equity requirement – building on the construction site, participating in neighborhood association meetings and completing a homeownership education course.
Habitat works with a local, responsible lender, assisting the family in qualifying for an affordable mortgage. When construction is complete, the family purchases their home from Habitat and the sale of that home helps Habitat build another!
We’re not sure what the volatile housing market will look like in the coming months, but we do know that this year, we’re on track to partner with at least nine more families like Sam and Maria. Families that will no longer spend over half their household income on rent payments, or who will watch the dream of homeownership slip away as the cost of modest homes in our community continues to climb.
In recognition of National Homeownership Month, I hope you will consider supporting Habitat for Humanity Capital District. Together, we can dare to dream about a community where every family has the opportunity to own a safe, affordable home.
With sincere gratitude,
Christine Schudde
Executive Director