Putting the “Share” into Shared Equity Homeownership
The day Dylan and Rebecca Merrifox sold their home was bittersweet. Selling the home, which is part of Champlain Housing Trust’s shared equity program, meant saying goodbye to a special place for their young family – even as they were excited for their next step.
“It really was a safe place for us,” said Dylan. “After going through a period of not really knowing what was going to happen to our housing, this home was an anchor at a really difficult time.”
Dylan, Rebecca and their two kids have been living at their home on Woodlawn Drive in Burlington’s New North End since 2017. They moved in after a chaotic time in their lives. They had been renting and felt helpless when the apartment building they were living in was put up for sale.
“I’ve always been interested in CHT and to be part of that “family” was awesome…. To have a place that was cheaper than any of the rental options and that we could put our stamp on was huge,” Dylan said.
Dylan and Rebecca enjoyed making updates to their home, including building a treehouse in the backyard for their kids.
“We could sit in the backyard as a family and relax and just separate from the day-to-day struggles,” said Dylan.
While the Merrifox family would’ve been happy to make their shared equity home their “forever home,” a new work opportunity for Rebecca meant the family needed to relocate to Rutland.
They worked with CHT staff who managed the process of selling their home from start to finish. Both Dylan and Rebecca appreciated how accommodating CHT was throughout the process.
“It was really easy. CHT was flexible. It was honestly one of the most relaxing sale processes I can imagine,” shared Dylan.
Likewise, the home buyer, Tyler Minetti, also came away from the experience with appreciation for the shared equity team.
“The CHT staff were great. They were always understanding and never made me feel pressured,” said Tyler. “It’s a big decision and I needed to find the right place for me.”
For Tyler, that house was Dylan and Rebecca’s home. The same backyard that served as a sanctuary for their family was exactly what Tyler was looking for.
“I really wanted a backyard. It’s my Burlington dream home.” said Tyler.
Since selling the house, Dylan and Tyler have kept in touch. Dylan introduced Tyler to neighbors and even helped with some home projects. It’s a feeling of community that’s been valuable for Tyler as a new homeowner.
“You never know what the future holds, but I think as long as I’m in Burlington, I’ll be here,” said Tyler.
For Dylan and Rebecca, it feels good to know that their former home will remain perpetually affordable as part of the shared equity program, giving Tyler and any future buyers the same opportunity their family had.
“Housing in Vermont is so difficult for so many reasons,” said Dylan. “Being able to help make it easier for someone else is so special for us, because someone did that same thing for us.”