GoodRoots lets you grow your way into homeownership.
For renters who are saving up to buy their first home (a.k.a. aspiring homeowners), moving into one of our homes allows you to grow your home equity at your own pace. We call this "co-ownership", and it means you benefit from wealth-building home price appreciation even while you rent. This means your home savings can keep up with rising home prices, which reduce the time it takes to save up for your first home by several years.
GoodRoots provides a great way for aspiring homeowners to "get into the market" without taking on a low-money-down mortgage. Instead of taking on huge monthly mortgage payments plus hundreds of dollars a month in mortgage insurance, GoodRoots Residents can co-own their dream home until they have a larger down payment ready, without missing out on home price appreciation today.
We think our co-ownership model will be a game-changer for many individuals and families who want access to housing equity but can't yet afford to buy a home. If this describes you, fill out a pre-application with us to see how much faster you could get to homeownership by moving into a GoodRoots home.
GoodRoots creates access to housing equity for everyone.
There are simply too many hardworking renters who feel they can never achieve homeownership in their high-cost housing market. The down payment requirement is too high, or they can't afford the monthly mortgage payments. Yet moving far away might not be an option if they want to keep their jobs.
For these renters, there is no way to access housing equity in their local housing market, so they fall further behind every year when home prices rise. This is one of the main reasons why "gentrification" gets a bad rap: even though economic development can benefit local homeowners, it leaves renters behind. As prices rise in a gentrifying neighborhood, these renters may even be displaced.
GoodRoots can change that. Our co-ownership model gives residents a viable path to homeownership without needing to take on an expensive, risky mortgage. As they contribute to their GoodRoots home equity account over time, the financial benefits can compound just like paying down a mortgage, without any of the risk of foreclosure. If the value of the home rises, our residents benefit, allowing everyone to grow with their community.
In addition, Residents benefit from our rewards program where we'll give them additional home equity when they take great care of the home.
For individuals and families that live in a GoodRoots home for the long-term, our co-ownership model could mean the difference between achieving homeownership and being forced to rent forever.