- Created: Tuesday, 17 July 2018 09:40
- Written by Laura Proescholdt
From focus groups to surveys, to internet analytics and trend research, companies worldwide spend billions on engaging with customers to understand exactly what they want. They don't want to design a product that their target market wouldn't – or couldn't – buy. Neither should designers of homebuyer and homeowner programs.
Too often, though, programs zero in on housing development goals without explicitly integrating the needs of the community. Failing to connect with the community these programs seek to serve – the customers – can result in completed projects sitting empty for longer than anticipated or a failure to use resources impactfully.
Community First, a HUD-sponsored guidebook created by Minnesota Housing Partnership with funding from the Department of Housing and Urban Development, helps you avoid those pitfalls by outlining key considerations in homebuyer / homeowner program design including:
- understanding your homebuyer market (your customers);
- identifying and addressing existing barriers to homeownership within your target market; and
- establishing appropriate programmatic approaches to attract and support buyers to invest in properties in targeted neighborhoods.
To create this resource, Minnesota Housing Partnership and Econometrica reviewed more than 300 homebuyer / homeowner programs across the United States. In addition to outlining general principles and best practices, the guidebook includes standout program examples that showcase innovative ideas organizations can apply as they look for creative approaches to put community first.