Housing Initiative

Fairmeadows North

The Newton housing initiative provides incentives to home builders, real estate developers, property owners, and home buyers to expand the quantity and, perhaps more importantly, the quality of our available housing inventory.

When you buy a new home in Newton, you will receive $10,000 cash plus a “Get to Know Newton Welcome Package” valued at over $3,000!

Additionally, home builders will receive:

  • Waived building permit and inspection fees, and
  • Negotiated lot prices and subordination with landowners.

Finally, if you are a general contractor building a new “speculative” home in Newton, you’ll receive:

  • Payment for construction loan interest for up to one year from the time the building permit is issued.

This incentive package is valid for the first forty new single family homes. The value of the home must be greater than $160,000 (net of land value). New homes must have a radon abatement system installed and “spec” homes must be actively marketed from the time the foundation is constructed.