Working Together to Build Saskatchewan
Headstart on a Home was the largest economic initiative to address entry level housing in Saskatchewan in the last decade.
The Program’s goal was to construct at least 1,500 homes. It surpassed this with 2,224 homes being constructed for families in Saskatchewan.
The Program provided construction financing for builders of entry level homes with the following parameters:
- Loans at fixed rate of 4%
- Minimum 10% equity requirement
- No pre-sales required
- Minimum 75% of homes must be owner-occupied
- Units must have a target price at or below the average MLS sale price in area
Projects were assessed on the following criteria:
- Capacity, experience and expertise of the Developer/Builder
- Overall feasibility of the project
- Municipality engagement
- Sales strategy to entry-level purchasers
- Needs assessment of the Municipality