What you should know about
home Ownership

Property Education

Escape the Rent Trap - Rent to Own Homes and Buy and Hold Packages

Retiring soon and worried about how you're going to afford rent with your pension? Banks often limit how much they lend to people with low shelf lives and who are close to retirement. Did you know that if you've been paying $350 a week over 5 years you will have paid off $91,000 of your landlord's mortgage?

First Step Homes understands how difficult it can be to juggle rent and begin saving for a new home. We offer tailored low to no deposit home loans targeted at high income earners with good credit histories.

Benefits of Home Ownership

  • No more dead money being funnelled into rent

  • No more unexpected rent increases

  • No more rental inspections and invasion of your privacy

  • No more risk of your house being sold and needing to move

  • Paint and redecorate as you see fit

  • Pet ownership

  • Benefit from property value increase

  • Security of living where you choose

  • A multitude of options with our house and land packages

We offer a range of property financing solutions geared towards first home buyers who are unable to meet the requirements for the bank's lending criteria.

Rent to Own Homes

Sick of renting? First Step Homes is committed to making home ownership a streamlined process for each of our clients. This solution means that you are locked in at a price where you agree to buy a house with the ability to keep any rise in valuation of the property. Rent to own is a great option for you if you're struggling to get a bank loan.

The rent to buy scheme sees you sign both a rental agreement and an option to buy the property. You will be required to pay an above market rental rate, which will be held by the vendor as it slowly builds up to form a deposit. You can then use this deposit to purchase the property and obtain a conventional home loan to pay for the remainder.

Enquire online or make an appointment with one of our specialists to learn more about this particular property financing model.

Vendor Financing

With this financing model you will not require bank or finance approval as the seller or vendor provides the financing. Again the purchase price is fixed when the contract is signed, which means you immediately benefit from any capital gain from the property. You will be able to move into the house while paying it off.

Bank Financing

With traditional bank financing, First Step Homes facilities the home deposit loans to get you started with the bank loan process.

Buy and Hold Strategy

This is one of the most common strategies and probably the simplest and most secure of the options. It consists of buying a property, holding onto it and reaping the benefits of capital growth.

Learn more about financing options for your new home by simply booking an appointment to speak with a senior lender.