The complex web of rent-to-own schemes
With a whole generation struggling to conjure the savings necessary for a home deposit, some are turning to an option that has caught on in the US but is relatively unknown in Australia.
Rent-to-own models help people to get into property ownership sooner, but prospective buyers should ensure the scheme they are entering is right for them. Photo: Shutterstock (Image source: Shutterstock.com)
With a whole generation struggling to conjure the savings necessary for a home deposit, some are turning to an option that has caught on in the US but is relatively unknown in Australia.
Rent-to-buy (or rent-to-own) schemes are almost as varied in their shape and form as the people using them for a foothold on the property ladder.
They are essentially a payment plan that allows the participant to move into the property they intend to buy and pa…
