Homeownership

NHSH sells homes to qualified year-round buyers at prices that are affordable. We do this by building new homes, acquiring existing homes and re-selling them, and brokering transactions of land or other housing.

In each case, every home we sell includes an affordability covenant that ensures it will remain affordable and available to the year-round island community in perpetuity.

As with our rental units, we maintain a waitlist of qualified buyers and we offer available homes for sale to the buyers on that list, in order of their original date of application.

If you want to buy a house from us, now or in the future, apply to join the waitlist today!

Eligibility

In order to buy a home from NHSH, you must meet the following requirements:

  • Income Eligibility: Applicants' combined household adjusted gross income (i.e., income from all household members) must be below 200% of area median income (AMI) for Knox County, Maine per Maine Housing’s AMI benchmarks; NHSH uses the average of a household’s prior three (3) years of income and compare it to an average of the AMI for those three years as published by the Maine State Housing Authority or other organization selected by NHSH.
  • Maximum Household Assets: NHSH is providing homes for sale to households unable to purchase housing at market rates. For that reason, NHSH restricts eligibility to those applicants holding non-retirement assets of $500,000 or less.
  • Year-Round Residency for a minimum of two years: At least one household member must have been a full-time resident of North Haven for 24 consecutive months or longer prior to closing. (Two full academic years for employees of North Haven Community School or the Watermans Community Center pre-school program.).
  • The purchased home will be applicant's primary residence; applicant agrees to live in the unit year-round and applicant does not own another home on North Haven.
  • Household Size: The minimum household size for 3BR units is two (2) persons. This restriction may be waived if the pool of applicants for a particular home does not include any households of 2 or more persons. Two bedroom units will have no minimum household size restrictions.
  • Mortgage Prequalification: Applicant provides a prequalification letter for the amount of mortgage financing required to purchase the home.

NHSH may revise these requirements or waive any of them at its sole discretion.