HOW DOES CLT HOMEOWNERSHIP COMPARE TO RENTING?
CLT homeownership provides stability and security since CLT homeowners...
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Have control of their housing
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Are not vulnerable to sudden increases in monthly house payments
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Have stable monthly housing payments
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Have security from eviction
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Have the opportunity to earn both earned equity and market equity
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Can take advantage of income tax deductions for their property taxes and the interest paid on their mortgage
HOW DOES CLT HOMEOWNERSHIP COMPARE TO
NON-CLT HOMEOWNERSHIP?
Similarities:
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Mortgage with a bank
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Accumulates earned equity
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Accumulates market equity
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Pays property tax
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Can make alterations and improvements
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Federal tax deduction
Differeneces:
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Purchase price is lower
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The CLT and the CLT homeowner enter into a long-term agreement to preserve the affordability of the CLT home
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CLT resale formula
Comparing CLT Ownership to Other Types of Housing
See how CLT homeownership compares to renting a three-bedroom home and purchasing a home through non-CLT ownership over a seven-year period:
