City of Langford aims to slash down payments for first-time home buyers
The City of Langford is about to launch an attainable housing program that will help first-time home buyers break into the red-hot real estate market.
“This is the toughest market I’ve ever seen or anybody’s ever seen in Canada, you know, probably ever,” said Langford Mayor Stew Young.
“You need a lot of money and you need a down payment to be able to afford it.”
The program will have developers build an attainable housing stock of one-, two-, and three-bedroom condos or townhomes, with a portion of the development fees going towards down payments for first-time home buyers in Langford.
Depending on a family’s income, they could qualify to receive a grant of up to 75 per cent of their down payment on one of those homes.
“It’s a game-changer for people that can’t afford to get into the market right now,” said Young. “What we’re trying to do is allow the opportunity for Langford residents to get into home ownership, to create some equity.”
The attainable housing program was initially introduced with eligibility for couples looking for two-bedroom homes, but has since been expanded.
Applications will be open to first-time home buyers who have been living in Langford for at least 2 years, as well as new RCMP officers moving to the area.
Mayor Young says about 500 people have already expressed interest, and he expects to see upwards of 1,000 applications once the program is finalized.
Applications are expected to open on the city’s website in the next 30 days.
CTVNews.ca Top Stories
King Charles' cancer treatment progressing well, says Buckingham Palace
King Charles III’s doctors are 'sufficiently pleased' with his cancer treatment and he is expected to return to public-facing duties, Buckingham Palace announced on Friday.
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
AFN chief says Air Canada offered a 15% discount after her headdress was mishandled
After the Assembly of First Nations' national chief complained to Air Canada about how staffers treated her and her ceremonial headdress on a flight this week, she says the airline responded by offering a 15 per cent discount on her next flight.
Regina police officer injured after being accidentally shot by fellow officer's gun
An investigation is underway after a Regina police officer was accidentally shot by a fellow officer’s gun during the search of a house early Friday morning.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
DEVELOPING Bird flu outbreaks: WHO weighs in on public health risk
The current overall public health risk posed by the H5N1 bird flu virus is low, the World Health Organization said on Friday, but urged countries to stay alert for cases of animal-to-human transmission.
Taylor Swift dons Montreal designer's dress in 'Fortnight' video
A pair of Montreal designers' work has now been viewed over 41 million times. Taylor Swift dons a Victorian throwback black gown in her latest music video, 'Fortnight', designed by UNTTLD due Simon Belanger and Jose Manuel Saint-Jacques.
From faulty kids' cribs to flammable kids' bathrobes, here are the recalls of the week
Health Canada issued recalls for various items this week, including kids’ bathrobes, cribs and henna cones.
Island near Mull of Kintyre for sale for US$3.1 million
An idyllic 453-acre private island is up for sale off the west coast of Scotland and it comes with sandy beaches, puffins galore, seven houses, a pub, a helipad and a flock of black-faced sheep.