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
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Documents reveal Ottawa's efforts to get Loblaw, Walmart on board with grocery code
It was evident to the federal government as early as last fall that Loblaw and Walmart might be holdouts to the grocery code of conduct, jeopardizing the project's success.
opinion The special relationship between King Charles and the Princess of Wales
Royal commentator Afua Hagan writes that when King Charles recently admitted Catherine to the Order of the Companions of Honour, it not only made history, but it reinforced the strong bond between the King and his beloved daughter-in-law.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
Improve balance and build core strength with this exercise
When it comes to cardiovascular fitness, you may tend to focus on activities that move you forward, such as walking, running and cycling.
'I just want to be safe': Ukrainian man in Canada faces limbo amid consular freeze
A recent decision to restrict consular services for fighting-aged Ukrainian men has made a Ukrainian man in Canada feel less certain of his next steps — and worried he could be pulled back to the war.
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Dozens of U.S. deaths reveal risks of injecting sedatives into people restrained by police
The practice of giving sedatives to people detained by police has spread quietly across the U.S. over the last 15 years, built on questionable science and backed by police-aligned experts, an investigation led by The Associated Press has found.