In this day and age, most people can only dream of being able to buy their own home. Many find a perfect home that is in their price range, only to be disappointed when they find out they cannot put down the huge deposit being asked of them.
The average deposit for a mortgage is 20%. If you need a mortgage for even a modest $100,000 this can still add up to an awful lot of money. Saving up this amount would be a long and arduous task, taking many years. No doubt your dream home will be snatched up before you've saved up the deposit. And let's not forget other up-front costs associated with buying property, such as legal fees and stamp duty. How is anyone going to afford getting out of that apartment (or their mothers basement, for that matter)? How can you avoid all these issues and be able to afford to buy your own home?
That is where we come in. The rent to buy scheme is a relatively new innovation, though the Government has a program that is somewhat similar. However, it only offers shared ownership. Who wants that? You deserve 100% ownership, and we can get it for you.
Renting is an exponential waste of your money. There are no benefits except a roof over your head (and possibly a leaky one at that!). Let's say you're renting until you save enough money for that huge deposit for your dream house. This will take many years, and as you're saving, the prices may rise. If you're paying a monthly rent of $200, and save up over a course of 10 years, that's $24,000 being flushed right down the drain on a property that will never truly be yours. You can't alter it without permission, and if you've got the permission, you're dumping your money into adding value to the property and giving your landlord a nice little profit once you move out.
Renting to buy gives you the best of both worlds; you get a roof over your head, and the money you pay is going toward the purchase of the home you're staying in. Rent to buy companies are usually property investors, and they'll have a portfolio of properties all ready for you to make them your own. You'll take out an option between 3 and 5 years, and once the term is reached you can either buy the property or decide to walk away from the deal. From the day you get your foot in the door, you are are the homeowner. You can do whatever you want to it. Want a conservatory? Go for it. Want a kitchen equipped for a 5-star chef? Build it! Any equity that you add onto the house is yours to keep.
With rent to buy, you won't have to save up a huge amount of money or struggle to find an affordable mortgage. You'll have a fixed price from the get-go, and no broken chains to wrestle with. With a rent to buy scheme, you too can afford your dream home!