HALIFAX: NDP Leader Claudia Chender announced a new rent-to-own starter home program that would increase the number of families able to buy their first home by 10 per cent in the first year.
The programw as announced Nov. 12 in Dartmouth.
“Rents have increased by 70 per cent in the three years Tim Houston has been in charge, making it almost impossible for people to save for their own home,” said Chender.
“For the hundreds of thousands of families who rent in this province the pathway to homeownership is nearly impossible – our plan will fix that.”
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While the Conservatives have pitched an ill-conceived down payment loan program that will encourage Nova Scotians to take out higher mortgages and increase their debt, New Democrats are focused on creating more pathways to homeownership.
An NDP government will build communities across the province with rent-to-own starter homes, so Nova Scotians will know that their monthly rental payments are investments in their futures – not someone else’s.
“The Conservative government doesn’t seem to get it: young people won’t stay in our province if they can’t afford a home,” said Chender.
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“Our proposal will help create a province where young people know that they can afford to live here and where seniors know they can retire in dignity.
“With the NDP rent-to-own starter homes, families can raise their children in stable, sustainable communities and people can build the life they want in the province we love.”
Nova Scotians who make less than $100,000 a year would be able to rent one of these homes and build equity towards homeownership.
Nearly 500 homes would be built in the first year using prefabricated construction.
