You can choose almost any home listed for sale, publicly or privately, as long as it meets the following criteria.
Eligible homes must be:
- Move-in ready and fully habitable
- A freehold single-family home or townhouse, generally built after 2000. In some cases, newly built condo townhouses with reasonable monthly condo fees may also be considered. If approved, condo fees are added to your total monthly payment.
- Priced between $150,000 and $600,000, within your approved budget
- Connected to municipal water and sewer
- Located in a qualifying community (population of 20,000+ with established municipal services) in Ontario, Alberta, Saskatchewan, or Manitoba
Major systems should ideally be within these ages:
- Furnace or main heat source (including central HVAC): 15 years or newer
- Air conditioning: 15 years or newer
- Water heater: 10 years or newer
- Roof: 15 years or newer
Considered case-by-case:
- Homes with basement suites
- Modular or prefab homes (must have a concrete foundation and meet CSA standards)
Homes we cannot purchase:
- Rural properties (well or septic) or areas with populations under 20,000
- Leasehold properties, mobile homes, or RVs
- Condominiums, co-ops, and multi-unit properties such as duplexes, triplexes, and fourplexes (newly built condo townhouses may be approved, see above)
- Homes not connected to municipal water and sewer
- Homes with hazardous materials such as vermiculite insulation or asbestos
- Homes with structural or foundation issues, including post-tension cable, wood, or post-and-beam foundations
- Homes with aluminum wiring that has not been copper pigtailed and verified by a licensed electrician
- Homes with knob and tube wiring
- Homes with an existing lease that extends beyond the closing date
Listing red flags to watch for:
Listings described as 'sold as is,' 'fixer upper,' 'handyman special,' 'TLC required,' or 'not habitable,' or listings with no interior photos, typically won't pass our inspection criteria.
Once you're pre-qualified, you can start viewing homes with our partner realtors or your own agent. We'll review each property to confirm it qualifies before you make an offer.
Not sure if a specific home or community qualifies? Email hello@requityhomes.com or call 1-855-952-6492 and we'll confirm.
Read related article on What Homes Can I Buy With Requity Homes
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