BENEFITS OF NWLT
Near West Land Trust offers a number of benefits to the home purchasers who recieve our help.
Affordability
NWLT homes are more affordable than homes purchased on the open real estate market because our community land trust provides affordability assistance to its homebuyers. The NWLT’s affordability assistance reduces the amount of financing the buyer must obtain in order to purchase a home.
Community
Near West Land Trust homeowners are members of our organization for as long as they own their homes. As a vital part of the NWLT community, they can choose to participate through many avenues such as voting, volunteering, or even becoming a NWLT board member!
Support
NWLT homebuyers have the support of NWLT and its staff as long as they own their homes. NWLT provides a wide array of support to its homeowners – from informational newsletters to hands-on home improvement workshops. The NWLT is also available to help homeowners in dealing with financial problems and foreclosure prevention.
Stability
Homeownership provides stable housing costs and security from eviction. With this stability, homeowners have a solid foundation that can allow them to pursue other dreams such as going back to school, opening a small business or retiring.
Ownership
Community Land Trust homeownership provides households stability and security not found with renting. NWLT homeowners have control of their housing with stable monthly housing payments, security from eviction, and the opportunity to accumulate both earned equity and market equity.