Owning an NRHT Home: Understanding Ground Leases and Routine Maintenance
Owning an NRHT Home: Understanding Ground Leases and Routine Maintenance
Buying a home through New River Home Trust is a unique opportunity—and with it comes a few key differences you’ll want to understand. Two of the most important things to know as a future NRHT homeowner are how our ground lease works and what’s expected of you when it comes to caring for your home.
This guide breaks it down in simple terms so you can feel confident and informed as you move toward homeownership.
What Is a Ground Lease?
When you purchase a home through NRHT, you own the house—but not the land underneath it. Instead, you sign what’s called a ground lease with us.
A ground lease is a legal agreement that gives you full rights to live in, improve, and sell your home, while NRHT continues to own the land. This model helps keep homes permanently affordable for you—and for future buyers down the road.
Key points of a ground lease:
You own the home, but lease the land from NRHT for a small monthly fee.
The lease is long-term—typically 99 years—and renewable.
You can sell your home whenever you like, following a fair resale process that helps preserve affordability.
You agree to use the property as your primary residence and follow basic care and upkeep responsibilities.
This model ensures housing remains accessible in the New River Valley while still allowing you to build equity and generational wealth.
Why It Matters
By separating the land from the home, NRHT helps reduce overall costs and creates lasting affordability. It also means the community keeps benefiting from each investment, year after year, family after family.
You still gain all the benefits of homeownership—like stability, pride, and the ability to build equity—but at a lower entry point and with long-term community protections in place.
Routine Maintenance: What You’re Responsible For
As a homeowner, you’re responsible for keeping your home in good condition. Taking care of your property helps protect your investment and ensures your home remains safe, efficient, and comfortable for years to come.
Here are some basic areas of routine maintenance to plan for:
HVAC systems: Replace filters regularly and schedule seasonal checkups.
Plumbing: Keep an eye out for leaks, drips, or water damage.
Roof and gutters: Clean gutters and check your roof for damage after major weather events.
Pest control: Take preventive measures to avoid infestations.
Appliances and fixtures: Maintain and repair as needed—this includes your water heater, stove, and any built-in systems.
Yard and exterior care: Mow the lawn, trim trees or shrubs, and address any exterior issues like peeling paint or broken steps.
NRHT offers educational resources to help you stay on track with home maintenance. You’re not expected to know everything right away—and we’re here to support you along the way.
What Happens If You Need Help?
Life happens, and unexpected repairs can come up. That’s why part of our education process includes helping you prepare financially for basic maintenance costs. We also provide guidance on local programs that may assist with home repairs if needed.
A Different Model, The Same Pride of Ownership
Owning a home through NRHT means being part of a community-centered housing solution that works for both you and the generations that follow. Understanding the ground lease and keeping up with routine maintenance are key to protecting your home and your investment.
We’re here to make sure you feel supported, informed, and confident every step of the way.
Have more questions about how ground leases work or what maintenance looks like? We’re happy to walk through it with you.
