Rent to Own/Buy in Queensland

[Guest lap70]

Does anyone have any experience with this option rather than just renting if you don't qualify for a standard bank mortgage? Having previously lived in Australia and rented the thought of going back to 3 monthly inspections etc with 5 young children is something I would rather avoid and although we will be going back with probably enough for a 10% deposit plus enough money to live off we have no jobs to go to until we find something when we get there. We have a daughter with special needs and would need adaptions to taps, bath etc and we wouldn't be able to do this in a rented house.

[Guest carlhall]

Hi

 

Personally I have not had any experience of this type of home ownership but every report I have seen about these types of buying tend to be rather negative and warn of hidden costs and higher than normal repayments. Not sure if they are good or bad ideas I would seek an experts opinion before you entered into such an arrangement. Would it be possible to rent for the first 6 months till you get jobs and then look for a property. If you have the deposit and the security of employment I believe you may find that is the cheapest and most secure route to follow and as new buyers you could be entitled to the various grants that new buyers can qualify for.

 

I understand how you feel about those dreaded 3 monthly inspections, they can be a right pain in the ass. :biglaugh:. Good luck with your move and house hunting .

[Guest Ktee]

You could look at a low/no doc mortgage, they are similar to the self cert ones in the UK. Although these are getting harder to get.