Turks & Caicos announce 'Quality Homes for All'
Jeffrey Hall, Minister of
Labour
Tuesday, December 20, 2005
PROVIDENCIALES, Turks & Caicos Islands: The Ministry of Housing of the Turks and Caicos Islands has announced the commencement of an affordable housing program on Providenciales. This program, dubbed "Quality Homes for All", is the first of its kind for the
country. Quality Homes for All incorporates a complete solution for home buyers, from financing through development and turnkey construction. It will be open to all
belongers and residents of the Turks and Caicos Islands. The goal of the program is to develop between 70 and 500 homes, depending upon demand. The
Quality Homes for All program will include a sale of land to the buyer,
the development and construction of the home, the efficient securing of a
mortgage and the purchase of furniture through one Government application. One of the goals of
Quality Homes For All is to ensure home ownership and occupancy for qualified Belongers, residents and others of
the Turks and Caicos Islands. Therefore, once purchased, homes cannot be resold for a period of three years, The second goal is to make home ownership as affordable as possible; including low down payments and monthly mortgage payments similar to current rental levels.
There will be three home designs available for purchase each on a one-quarter
acre land plot. The government believes that most
nelongers and residents of the Turks and Caicos Islands will consider the purchase prices and down payment requirements of the houses in this program to be exceptional and that many will view this opportunity as an historic event in the
improvement of quality of the life for middle income Islanders. The actual prices of the first 70 houses will be set in January.
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