Home Ownership Starts Here!!
Owning your home has by far become one of the greatest
challenges for current working class families. Today’s cost of living has far
outstripped those of our parents generation making qualifying for a bank loan
(the first step in a home purchase) all the much harder. OwnYourHome.com.au
seeks to take away that uncertainty by providing hard working families the
opportunity to qualify for finance and subsequently providing a realistic chance of home ownership.
OwnYourHome.com.au employs creative real estate techniques to assist home buyers in achieving their dream of home ownership without the pressures commonly experienced from other financial institutions. Rent to Own (also known as Rent to Buy) is one such technique which can help home buyers get into their new home.
Rent to Own - How it Works...
Rent-to-Own is a new approach to home ownership which provides home buyers the opportunity of home ownership without taking on debt. Rent-to-Own works just like a normal rental agreement however within the rental payment there is a percentage (normally between 20%-30% but dependent on individual circumstances) which is put towards the price of the home.
Having trouble getting a home loan? Don’t worry, Rent-to-Own is not a loan, it is a home ownership plan to get you to own your home as soon as possible. If you are eligible to rent a home from a real estate agent then you would most probably be eligible to enter into a Rent-to-Own agreement with us.
The Rent-to-Own concept is ideally suited to home buyers who want to break free from the rental cycle and own their home.
Vendor Finance
Vendor finance is a new concept of buying a home in the Australian real estate market. The idea is quite basic and involves the original seller of the property taking part in the on-going financing of the property to the buyer. The idea has been around since the early 1900's in the United States and was used extensively in during the depression when banks weren't willing to lend money to people to buy houses. With the current economic trend (mainly due to the mortgage credit crisis) shaping up to be comparable with conditions seen during the depression (massive rates of home repossessions) many home buyers are having trouble sourcing finance.
If you are having trouble getting finance for a loan this may be a way in which you can get yourself into the housing market.
Rent to Buy and Wrapping are both types of vendor financing and can be used effectively to purchase property. These two concepts are differentiated by the level of commitment the purchaser shows towards their purchase which usually depends on how much the purchaser is willing to contribute as a deposit. Both of these methods enable the purchase of property without any financing to be sought from banks and are valuable tools for those wishing to start owing their home with minimal deposit.
Latest Blog Articles
Rent to Buy - Know all about it before buying a house. Are you looking to buy a home but worried that you don’t have enough cash at hand? Then rent to buy (sometimes known as lease option or rent to own) may be the best choice for you.
Rent to buy and rent to own are the...
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13/06/2008 11:32:00 PM
Own Your Home
Rent to buy homes is the most affordable method to buy a house that you desire in case your financial position is not satisfactory. Here, we provide you with a few guidelines that you need to follow to rent to buy homes.
Rent to buy and rent to own are the two commonly used terms that refer to lease option. While the term “Ren...
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11/06/2008 11:18:00 PM
Own Your Home
Rent to own is an alternative method of attaining home ownership. A home ownership opportunity is given to a renter to purchase the rented property at the end of the lease term. The obvious benefit of rent to own is that you need not worry about heavy upfront deposits and closing costs enabling home buyers to achieve home ownership for much less up...
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7/06/2008 10:58:00 PM
Own Your Home