Rent To Own: Brisbane Opportunities


 

Rent-to-Own is becoming much more popular in the general community, and it is not hard to understand why. The traditional banking system has significantly decreased the amount of loans they are providing to everyday Australian familieand these families are now looking for other ways to be able to buy their own home.

If you are looking for opportunities to rent to own in Brisbane, Low Deposit Propertyspecialises in providing opportunities for would-be homeowners in and aroundsouth-east Queensland.

Getting a bank loan can now be very difficult because the banks require very strict criteria to be met. Here is an example of what is required to buy an average $400,000 entry priced home in a nice suburb…

  1. Firstly it is likely you will need 20% deposit, i.e. $80,000 saved
  2. Secondly you will have to pay for all of the closing costs, i.e. legal fees, loan fees and stamp duty. This can easily add up to a further 15,000, making a total of $95,000 required to buy a home
  3. Thirdly if you have just started your own business or are self-employed, qualifying for loans can be difficult even if you have the deposit ready!
  4. If you have any credit default problems, the likelihood of getting a loan approved is very slim

It is easy to understand from these requirements, that there are a lot of families who now find it difficult to get approved for traditional bank finance.

For these families the opportunity of dealing directly with the property seller, and not having to have a bank involved is very appealing.

The concept is very simple and basically means dealing directly with the seller of the property, paying rent for a number of years whilst you build up a deposit and fix any credit/employment issues. Then at the end of the term renting, when you can qualify for a loan, you simply buy the house that you have been living in the whole time.

The benefits are that you get to live in the house now, make all the improvements you wish and enjoy homeownership whilst waiting to qualify for a loan.

There are opportunities in Brisbane to rent to own your own home!”

There are opportunities in Brisbane to rent to own your own home!”

As with any important transaction, like buying a home, it is important that all of thepaperwork is handled by professional lawyers to ensure you are protected.

You can contact Low Deposit Property to discuss what opportunity you may have toown your own home quickly and easily using a rent-to-own system.

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