Above: Those eligible for low income housing (and looking for their first house) can enter a lottery for this “Affordable Home” condo. (image from listing)
A deed-restricted affordable home in Southborough is back on the market. That means that it is being sold “below market rate” at a discounted price “for income-eligible households”.
There are no bidding wars. Instead, qualified buyers can enter a lottery this month for the opportunity to buy the home.
Here are the details.
The 2 bedroom, 2½ bath townhouse condo is at 27 Meeting House Lane. An Info Session will be held Tuesday, Tuesday, May 14th at noon over zoom. (Register here.) The listing notes:
Lottery Information Session is recommended but not required to submit an application.
I found two different deadlines for applications on the website. (To be safe, I’d go with the sooner, which is Monday, May 20th at 5:00 pm. The other was 24 hours later.)
The price is listed as $204,948. There is also a $176 condo fee.
Purchasers must be first-time buyers. There are no age restrictions, but buyer’s wealth limits are $75K in assets and an income that doesn’t exceed:
- 1 person household – $68,500
- 2 person household – $78,250
- 3 person household – $88,050
- 4 person household – $97,800
- 5 person household – $105,650
For more details and information on applying, click here.
