Rent To Own Homes - Lock In Your Price
Rent To Own Homes have never been more needed in Canada. With larger markets like the Greater Toronto Area booming, demand for homes has been skyrocketing. With immigration continuing to drive the population growth, most of the Southern Ontario even smaller towns are seeing the effects of this.
The supply of new home builds is not keeping up with the demand to purchase, and as a result the prices of homes are becoming non-achievable for most.
Many people will put their hard earned money into savings to try and accumulate enough for a down payment, but unfortunately for many, the value of houses continue to increase just out of reach of their affordability.
One of the greatest benefits of utilizing a Rent To Own agreement to purchase your home, is that you have a predetermined purchase price that is locked in no matter what the value of real estate does. Let’s look at an example to better illustrate this.
Let’s say the present value of the home you want to buy is $250,000. If the markets increase like they did between 2015-2017 you may be looking at a 30-40% increase in home values. If you were trying to save for a down payment over a two year period that $250,000 home may now be worth $350,000. Still after two years of saving the price of the home will be way out of reach for you.
With our rent to own program we have predetermined prices so you know exactly how much you are going to need. If the home is $250,000, on our three year rent to own program, you will be looking to buy that home for around $290,000. Even if the value of homes in the area jumps up to $350,000, you are still locked in with a legal contract for $290,000!
Rent to Own is a solution to allow you to enter a market in a predictable way, so you can plan your finances and increase your likelihood of homeownership, all while having peace of mind during that time period.