Buying guide
Rent to own: The first time buyers guide
Can’t quite get a mortgage? There might be another way
AI summary
Rent-to-own schemes offer a pathway to homeownership for Kiwis struggling with large deposits or mortgage approval. These programs let you rent a home for a set period, usually five years, with the option to purchase it later.
Key benefits often include:
- Reduced rent to help you save
- Financial planning support
- A share in the property's capital gains to boost your deposit
Eligibility is typically for first-home buyers who are NZ citizens and meet specific income criteria. Providers like The Housing Foundation offer these schemes, but it's vital to understand the terms before committing.
Rent to own explained
How does rent to own work in NZ?
Rent to buy schemes can be a great way to get into a stable home sooner.
Am I eligible for rent to own NZ?
Your rent to own FAQs answered
1. Would I get a share of the property's value growth?
2. Would my rent go towards your deposit or fees?
Rent to own schemes can make it easier to save a deposit.
3. What happens if property prices go down?
4. Will the provider help me buy?
5. Can I get a mortgage?
6. What if I want to leave and not buy the home?
Top rent to own providers in NZ
Do your homework before applying to a rent to buy scheme.
Keen to apply for a rent to own scheme?
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