Renter 2 Owner:
Educating Aspiring Homeowners
You’ll learn about different types of housing and ownership models, financing and mortgages, and how to maintain and care for your home.
This class is for residents of downtown Lewiston and the Tree Streets who are interested in learning about buying and owning a home. The Renter 2 Owner homeownership class is locally based and covers the types of housing available in Lewiston while connecting students with local real estate and financing professionals who can help them move forward with your home ownership goals.
Why are you offering this class?
With rent increasing, availability decreasing, and out-of-state developers purchasing downtown properties quickly at growing prices, housing in Lewiston is at a critical point. We want to demystify downtown home ownership so that current residents can decide if they want to own the housing in their neighborhood, and support those that do so they can be successful.
How much does it cost?
There is no cost to attend this 12-hour class, which is offered in six 2-hour sessions in downtown Lewiston. Upon successful completion you may qualify for down payment assistance and other state-level programs that help you purchase your first house.
CLASS 1: Choosing the Right Kind of Housing for You
- Goes over the different types of housing and ownership models (single-family, multi-family, condominiums, and cooperatives) available in the Lewiston-Auburn area and the different levels of quality this housing can come in. Helps you self-identify the types of housing that are the best fit for you.
CLASS 2: Navigating the Homeownership Journey
- With the help of financial professionals, explains how people build wealth through their housing and the financial concepts involved in buying a home, including equity, mortgages, and how to budget as a homeowner, especially budgeting for maintenance and emergencies. You will also work one on one with a financial professional to evaluate your readiness for home ownership and identify ways you can continue to work towards qualifying for the kind of home loan you’re interested in.
CLASS 3: House Tour at our Pilot Project
- Introduces the key structures and systems that keep a building running, with a focus on aging, multi-family buildings in the downtown. Identifies repairs that can be done by the owner and repairs that require a professional. Includes a house tour and how to perform common maintenance tasks.
CLASS 4: Workshop on Practical Home Maintenance and Repair
- Hands-on instruction in common, slightly more involved maintenance tasks like patching and painting walls, replacing screens, installing a light fixture, and using a power drill and other common household tools. You’ll get a chance to actually do these tasks in our classroom at the Pepperell Mill.
CLASS 5: Property Maintenance and Management
Covers the difference between management and maintenance and introduces a sample annual maintenance schedule to keep your home in good repair. Introduces how a condominium association works and how the management of a building is different if you do it on your own or as part of an association.
CLASS 6: Where to Go from Here
- Helps participants understand their options, resources, and next steps. Includes a step-by-step guide and a checklist for viewing properties. Covers any questions that have been put in the parking lot over the course of the curriculum. Introduces participants to Renter 2 Owner Google Drive, where they can access all of the information covered in the class and contact information for real estate and financial professionals who participated in the class.