Stop Renting

You could be a homeowner for around the same cost as renting even if you have no deposit!

Rent to Buy

Rent to Buy Traps and the Safer No Deposit Alternative

Rent to Buy schemes will see the first homeowner paying a lot more in the long run than they should. Before you decide to use your first home owners grant and lock yourself in to one of these schemes, check out how Why Rent can help you go from being a renter to a homeowner without any additional outlay.

Rent to Buy Traps:

  • You can sometimes pay a much higher rate of interest than a bank loan
  • Your name may not be on the property title
  • Your 'landlord' can retain title until the loan is paid in full and if they shut their business you may have no claim over the property
  • You have the responsibility of owning with none of the benefits
  • If you do not complete the purchase for any reason you can lose all of your invested money
  • Because you are not legally the home owner you will not receive the proper consumer credit protections that a bank provides with a normal mortgage.
  • Your 'seller' may separate the 'contract' and the 'lease' into two documents which are both written in their favour and can be difficult to understand.
  • If you do not fully complete the purchase, you lose any capital gain
  • The actual 'sale price' usually has a large profit component built in for the 'landlord'. This sale price may then be well above the bank valuation for the property which makes the refinancing for the mortgage nearly impossible when it is time to buy.

rent to buy trap

The Why Rent, No Deposit difference:

  • The deposit we loan you carries NO INTEREST and is payable over 5 years
  • You purchase your first home in your own name, as with a normal sale
  • The title of the house and land is solely in your name
  • You are the homeowner, Why Rent is not listed on the title
  • All the benefits of being a homeowner are yours alone
  • Any capital gain in the property is yours alone.

Why Rent has a loan contract with our customers for the deposit loan only. We do NOT hold any interest in the title and we are not your landlord. You own the home and our aim is to ensure that you can afford it, that it will value up properly, so you can go from renting to being a homeowner much sooner than you thought possible.

Why Rent has seen the need on the Gold Coast, Logan, Ipswich and Brisbane for people to be able to get into their first home, without being caught up in one of the many rent to buy schemes that can trap you into a large debt with no benefits. Just because you have no deposit or low deposit should not stop you from buying a home.

Why Rent is the only company in Australia that is doing this much to help you make the move from being a renter to being a homeowner. At Why Rent, we provide renters in from the Gold Coast to Brisbane North with a No Deposit or Low deposit home purchase service that can help make dreams become reality without the risks of a rent to buy contract..

If you want to see if this is a possibility for you and your family, just fill out the simple questionnaire and see if you qualify to get into your very own first home with us.

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