We'll clearly indicate which homes are available through SEPP. When you're ready to purchase, SEPP is simply an addendum to your standard Purchase Contract.

Check the "Qualifying Projects" section at the bottom of this page to see the current purchasing opportunities.

It means both you (the buyer) and us (the developer) share an equity stake in the property. As the property appreciates in value over time, both parties benefit from that appreciation, as shown in the example above.

With SEPP, you retain full ownership and title of the property, while we retain a "beneficial interest" in the portion represented by the SEPP (5-15%).

“Market value” is the priced determined by supply and demand in the market - this is something we have no control over. To determine the market value of our homes, we look at real estate sales data (from the Multiple Listing Service) using the sales history of the most comparable homes that have recently sold on the market (based on features, location, size, etc.). Additionally, we commission a third party appraisal to get an outside opinion on the market value of our homes.

While we cannot control market value, we’re able to provide better-than-market pricing through our car-free housing model and SEPP.

SEPP has no specific qualifying criteria beyond being able to secure a mortgage with a qualified lender. You don't need to be a first-time homebuyer or meet any income requirements. SEPP is designed to be as simple and inclusive as possible.

However, there are two key things we consider during the purchasing process for all of our homes:

1. Buyers must be committed to a car-free lifestyle.

2. Buyers must intend to live in the home, rather than using it as a rental investment property.

Our goal is to ensure that our homes are a good fit and that our buyers thrive in their new community.

Please note that buyers will still need to qualify for a residential mortgage as usual, although it will be based on the lower SEPP purchase price.

Your down payment will depend on the price of the home, and we follow standard federal regulations for home purchases:

• 5% of the first $500,000 of the purchase price

• 10% for any portion of the price above $500,000.

However, SEPP reduces the overall purchase price, which also lowers the minimum down payment. In the example above, the minimum down payment is $42,500 instead of $53,750—a reduction of $11,250, or 21%.

If you are purchasing a presale home, the minimum presale deposit is 5% on a CMHC insured mortgage and 10% on a conventional mortgage.

It's not mandatory, but securing a mortgage through them will likely be easier since they are already familiar with SEPP. We can't guarantee that other lenders will accept SEPP during the mortgage review process.

If you choose to purchase a home without SEPP, any lender can assist you.

If you never sell your home, the SEPP becomes due on the 25th anniversary of your purchase date.

We believe this is a reasonable limitation. In the worst-case scenario, if the homeowner doesn't have the funds to pay off the SEPP, they will have refinancing options based on the equity they've built in their home.

Nope, SEPP is optional. If you would like to retain the full value of your home and 100% of the proceeds when you sell in the future, you may purchase a home at the market price.

Yes, you can buy out the SEPP at any time. The home would need to be appraised to determine its current value and there will be some minor paperwork, but otherwise you're free to buy out the SEPP whenever you choose.

Then our shared equity amount would also decrease. For example, if you purchased your home with a 10% SEPP, the repayment will always be based on the current value of the home when you resell, whether the value has increased or decreased. In essence, we are sharing in both the risks and rewards of homeownership.