Homeowners benefiting from government assistance to purchase their first home will now be required to maintain ownership of that property for a minimum of ten years. This change was recently approved by Cabinet as part of an update to the First Home Ownership Initiative Policy, with the new rule set to take effect on August 1, 2025.
In addition to this ten-year stipulation, the government is launching a new support program aimed at low-income families who have been evicted from informal settlements in areas such as Veidogo, Nabua Muslim League, and Kilikali. Through the First Home Grant Assistance Category One, Tier One Programme, families that qualify for a loan from the Housing Authority will also receive supplementary grant assistance.
The initiative will be managed collaboratively by the Ministry of Housing and the Housing Authority, with the potential for future expansion to encompass additional settlements. Authorities emphasize that these changes are intended to safeguard housing assistance programs while providing vulnerable families with the opportunity to secure stable housing.
These developments reflect a commitment to improve housing stability and support for disadvantaged communities, ensuring that governmental assistance leads to lasting homeownership and a better quality of life for families in need.
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