After offering a rather irresistible promotion, it seems Concord Pacific got a bit more than they expected from prospective home buyers.
Around 400 people stood in line over the weekend to sign up for the “Home Ownership Made Easy” program offered on the new Brentwood Community Development. The initiative promised to pay half your mortgage for a year, along with a lower downpayment, if you’re one of 50 young people chosen.
Unfortunately, less than half of those in line ended up qualifying, and around 60 people were drawn from the pile of 400 as the winners on Saturday.
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Some of the qualifications include being a first time homebuyer, between the ages of 19 to 35, and being either a Canadian citizen or a permanent resident.
“We saw early that there was an overwhelmingly large group lining up early Saturday morning including a significant number of realtors that lined up without clients and that is not what we intended for this local first time home buyers pilot project,” says Grant Murray with Concord Pacific in an email to Daily Hive.
He adds that they decided to include 10 more people in the draw than the original 50 to give more people the opportunity to take part in the initiative.
“During the process we learned a lot,” Murray says.