East Hardwick Native Finds Perfect Fit Cinderella Home Through RuralEdge's Shared Equity Program

Allie Wood standing in front of her new home

With her children’s needs at the forefront, East Hardwick native Allie Wood began searching for her dream home more than a year ago. At the time, she was living in a Hardwick rental property with property management assumed by RuralEdge in December 2024. As part of RuralEdge’s offerings, staff informed tenants about additional resources available to them, including Homebuyer Education and Counseling through the Homeownership Center. For Allie, the idea of owning a home still felt more like a fairytale than a realistic possibility.

After attending homebuyer education classes and individual financial counseling sessions with RuralEdge staff, Allie was armed with the tools to be an informed buyer. Finding a home that fit her family and her budget proved a challenge. After touring ten homes throughout the Northeast Kingdom – and having one deal fall through - Allie finally found the perfect fit in East Charleston.

“I really liked the school district, and it even came with a play structure for my children,” she said.

A fenced-in yard for her dog and a spacious kitchen helped seal the deal.

Unlike traditional down payment assistance that benefits only one family, RuralEdge’s Shared Equity Program, funded through the Vermont Housing and Conservation Board, offers a one-time investment that stays with the home permanently, ensuring it remains affordable for future income-eligible buyers. In return, the homeowner agrees to limit the profit they earn if the home’s value increases and shares the appreciation with the next buyer. This means that as the property value increases, it becomes more affordable relative to market conditions.

RuralEdge’s Shared Equity Homeownership Program makes homebuying affordable for families with low to moderate incomes by offering down payment assistance grants of up to 35% of the cost of a home. Designed to increase buying capacity and for those who might not otherwise be able to afford a down payment, the program helps families purchase homes while ensuring those homes remain affordable for future generations.

RuralEdge builds permanently affordable homes by leveraging federal and private investments in addition to state funds. We envision a future where every NEK resident can experience the same sense of pride Allie Wood found through homeownership.

If you or someone you know has an interest in applying for the Shared Equity Homeownership Program, visit https://ruraledge.org/shared-equity or call 802-535-3555.