Some Housing Tasmania tenants have been invited to consider buying through shared equity the houses they are renting from Housing Tasmania.
Tenants are not required to do anything until they receive a written invitation from Housing Tasmania.
Quick Build homes may be purchased as shared equity under HomeShare
Why consider shared equity home ownership?
You and the Director of Housing own the home together.
The Director of Housing will retain a 25% share in a property and you would buy the remaining share. This means that you would have a 75% share in the property as co-owner with the Director of Housing.
No rent or interest is charged on the Director’s share. However you must pay rates, insurance and maintain the home.
What are the benefits of shared equity?
The benefits of shared equity are explained under HomeShare.
However because you are buying the house from the Director of Housing, the maximum $50,000 does not apply. You would need to be able to afford a loan to buy 75% of the purchase price of the house.
Are you eligible to buy through shared equity?
The eligibility criteria are the same as for HomeShare.
What property can you buy?
Quick Build and other Vacant houses may be purchased through HomeShare from Housing Tasmania.
Housing Tasmania tenants may buy the houses they are renting if they have received an invitation from Housing Tasmania to consider buying the house.
What income limits apply?
The income limits are the same as for HomeShare.
What asset limits apply?
The asset limit is the same as for HomeShare.