VERO BEACH — Among the requirements Indian River Habitat for Humanity homebuyers must complete is a 10-week series of classes. The series takes place three times a year and focuses on arming Habitat homebuyers with information vital to their becoming successful, responsible homeowners.
The classes, taught by Habitat staff and/or volunteer specialists, are part of the Homebuyer Program, which also includes working a specified number of Sweat Equity hours and establishing a savings account. Each element must be successfully completed before the individual or family can close on their Habitat home.
The current classes include:
Introduction to Habitat homebuyer program – Explains how the program works, including sweat equity, wall raisings, dedications, savings account, and benefits associated with being a Habitat homeowner.
Homeownership – Explains Habitat mortgage vs conventional mortgage; SHIP loan; equity; mortgage restrictions; foreclosure; homestead exemption; income tax vs. property tax.
Budgeting – Help in restructuring a budget; identifying spending leaks; Earned Income Tax Credit; setting financial goals; and understanding common mistakes new homeowners make.
Credit – Explains basic banking skills; understanding credit and why it is important; protecting identity; credit scores; co-signing on a loan, etc.
Long Term Financial Planning – Explains various financial issues from retirement, college funding, life insurance, savings plans such as CD and money market accounts.
Predatory Lending – Talk about payday loans, watch a DVD called “Money Trap,” rapid tax refund, balloon payments, etc.
HOAs – Explains Homeowner Associations and the importance of understanding the legal documents they will receive from Habitat before closing.
Neighboring – Talk more about how an HOA works, how to be a good neighbor, when to call 911, when to call HOA president, suggestions on how to work through conflicts with your neighbor.
Parenting – Show a parenting DVD series “123 Magic” from child psychologist Dr. Thomas Phelan.
Construction 101 – Explains basic skills needed on the worksite; includes a safety video.
Decorating on a Budget – Green Team – Basic Lawn Care – Homebuyers meet at the Home Center and walk through the store with two volunteers who are decorators. Covers furniture quality, putting pieces together, working with color. Also covers recycling and basic lawn care.
Legal Issues – Explains and provides examples of all the legal documents the homebuyer will be signing at closing. She also reviews homeowner association requirements and fees.
Maintaining Your Home/Lawn Care – Takes place at a Habitat home where the homebuyers learn how to maintain important aspects of their home (main water valve inside and outside of home, basic toilet repair, a/c and dryer filter, smoke alarms, electrical breaker box, taking care of mold, etc.)
For more information on Habitat homeownership, please contact Debbie Parcher at (772) 562-9860, X232, Annie Blewett at (772) 562-9860, X230, or visit our website at www.IRCHabitat.org.
