If you teach for a living, you could find it much easier to buy a home thanks to a Housing Grant worth up to a 50 percent discount.
The Good Neighbor Next Door Program
Good Neighbor Next Door (GNND) is a program meant to help teachers and other public service professionals gain access to affordable housing. But it doesn’t just help people from certain professions buy homes, as it also revitalizes communities. Let’s take a closer look at how Good Neighbor Next Door works to see if it fits your needs and how to qualify.
How Good Neighbor Next Door Works
GNND was started out of the belief that teachers and other public service professions like law enforcement, firefighters, EMTs, etc., help revitalize communities and keep them strong. As such, the program helps give back to these individuals by allowing them to buy homes at a deep discount.
Can you buy any home at 50 percent off through Good Neighbor Next Door? No, as the program is designed for investment into revitalization areas. Through this setup, communities can be rebuilt and flourish while giving teachers and other professionals access to safe, budget-friendly housing.
Access to deeply discounted single-family homes is reserved for eligible applicants of GNND. If a home becomes available, you will have five days to purchase it at 50 percent off its list price. These five days are defined as the bidding period. You cannot purchase the home as an investment property, as you will need to live in it for three years and hold it as your primary residence.
Good Neighbor Next Door Eligibility
The first hurdle to becoming eligible for GNND is to work as a teacher, firefighter, EMT, etc. Teachers must work full-time at a state-accredited public or private school and offer services to pre-K through 12th-grade students.
You will have to purchase a home in a revitalization area near your workplace. The U.S. Department of Housing and Urban Development defines such areas. The home must also be selected by the HUD.
You can begin the pre-approval process by going here.
How To Find Good Neighbor Next Door Homes At 50 Percent Off
Buying a home at a 50 percent discount sounds great, but as you can imagine, the availability of such cheap housing is limited. How can you find Good Neighbor Next Door homes in your area? By clicking this link and visiting the Teacher Next Door website. Fill out a few details like your name, email address, requested city, and state, and you’ll see if any half-price homes are available near you.