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Housing Helps

The Housing Helps Program has been implemented by Summit County and the Town of Breckenridge as a means to acquire new deed restricted properties throughout Breckenridge and Summit County. Their goal is two-fold:
– Help locals buy housing and stay in the community.
– Create more deed restricted properties to help sustain our community for the future and eliminate the need for continued building.

The program will pay owners, buyers, sellers, businesses, and investors 15-30% to accept a deed restriction on homes that are currently unrestricted. The funds may be used for down payment, home repairs, special assessments, or any other purpose. In exchange, a deed restriction will be placed on the property, ensuring the property is used for local housing in the future.

In the Upper Blue Region/Breckenridge, there are 2 types of deed restrictions that are being implemented with the program: “Light” Deed Restriction and “Full” Deed Restriction.

For the “Full” Deed Restriction, the town will give up to 30% of the purchase price of the property you would like to buy. In exchange, a deed restriction will be placed on the property saying that the occupant must work at least 30 hrs/week in Summit County. This means that the unit could be rented long-term, just as long as the occupant works the 30-hour minimum. The Full Deed Restriction has an appreciation cap of 3%/year.

For the “Light” Deed Restriction, the town gives up to 19% of the purchase price. Once again, the occupant must work a minimum of 30 hrs/week in the county. The unit could be long-term rented as long as the tenant works the 30 hr/week requirement. With this deed restriction, there is no appreciation cap. The property can be sold for whatever price the market dictates.

Outside of the Upper Blue Region, the county is offering up to 15% to put a “Light” Deed Restriction on properties. They are not offering the “Full” Deed Restriction program at this time.

If you are interested in learning more about this program, call me at (970) 485-2780 or fill out the form below.

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