‘Homes for Homes’ is an innovative new funding model aimed at increasing the supply of social and affordable housing in Australia.
This model allows owners to make a voluntary tax-deductible donation - equivalent of 0.1% of the property’s sale price - to Homes for Homes when they sell their property. This offer to donate is registered on the property’s title through a simple legal mechanism (a permissive caveat) and acts as a reminder for the donation to be made at settlement. To help encourage participation, the property owners can choose to withdraw their property from Homes for Homes at any time.
The MFAA is taking a proactive role in promoting the Homes for Homes program to our broker-members. They, in turn, promote it to their customers, Australia's home owners and buyers.
Furthermore, the MFAA is using its industry connections to promote the initiative to our partners, including major and non-major lenders, and aggregators.
To partner with Homes for Homes and help your customers contribute, visit their website here.