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City of Philadelphia
 

For Employers

A housing incentive program for your employees can help your company.
  • Attract the best and brightest: Philadelphia Home.Buy.Now is an additional benefit that will attract a world class workforce and put you ahead of other potential employers.

  • Avoid high turnover costs: Replacing an employee can cost as much as 150% in annual salary in lost revenue from separation pay, replacement costs and reduced productivity. Philadelphia Home.Buy.Now offers the opportunity to retain those employees as well as offer a benefit that is proven.

  • Improve your brand and your market: Especially in place-based businesses like restaurants, retail and education, your community is an important part of your brand and your market. Helping your employees buy homes in your city stabilizes and enhances the community, creating a more attractive setting for your business and a more prosperous clientele for your goods.

Here's Home.Buy.Now works:

  1. Step 1: A team of experts from Philadelphia Home.Buy.Now works with you to create a customized program for your employees. Programs can be tailored to help encourage employees to live in specific neighborhoods near their workplace, to help attract employees in specific professions and in lots of other ways. What’s important is that your business’ program fits your needs.
  2. Step 2: When one of your employees sets out to buy a home, he or she can count on support from Philadelphia Home-Buy-Now. Your company sets the stage, contributing as much as you’d like toward your employee’s purchase, and then the City of Philadelphia will match your contribution up to $4,000.
  3. Step 3: That’s it. With an investment of just $4,000, you may be able to put $8,000 to work in an investment that will pay returns to your company, your employee and the community.

    To learn more or enroll your organization: visit http://www.uac.org/philadelphiahomebuynow/ or call 215-851-1738 or email jvarghese@uac.org.

BOOSTING THE BOTTOM LINE WITH INVESTMENTS IN EMPLOYEE HOUSING.

Philadelphia Home.Buy.Now is the only city-wide Employer Assisted Housing program that has helped over 410 employees from 53 employers purchase new homes. Since 2005, Philadelphia Home.Buy.Now has provided employees with access to extensive homeownership counseling, home buying resources, and financing options for their down payments and closing costs. This program has brought over $82 million in home sales to Philadelphia, as well as significant increased tax revenue of over $890,000 per year.

Philadelphia Home.Buy.Now has been proven to:

  • Provide more home buying opportunities, as 30% of participants would not have been able to purchase a home without the program
  • Help more minority individuals, as 50% of participants were people of color – the group most affected by the 2008 collapse of the housing market
  • Create neighborhood stability, with 91% of participants still live in the home they purchased through the program.