Best Practice

Implement a Sweat Equity Program for Homeowners

Local governments can implement a sweat equity program for homeowners, or partner with local organizations to expand homeowner investments in maintenance. In addition to lowering construction costs, local programs can also be designed so that sweat equity figures into the owner's down payment. These kinds of programs stabilize homeowners and tend to offer homeownership opportunities for families with lower incomes.

Cost

$, Low cost to implement; ongoing administration costs.

Timeframe

6-12 months for program development; ongoing administration required.

Code

Equity, Ownership

Challenge

Affordable Housing, Increase Homeownership, New Development

Practice Tool

Program

Population

Homeowners, Low-Income Residents

Setting

Urban and Rural