Are looking to buy your own home in Australia?

by Sheree Becker on April 29, 2011

Are looking to buy your own home in Australia?

Are looking to buy your own home in Australia? If you are then you may (or may not) also be aware of the trends and changes which are occurring that are affecting the real estate market within this great country.  The main problem is coming from the statistics of the current market showing buyers and sellers who can no longer afford traditional ways of buying homes.  The response is that many trends are now pointing to the Rent To Buy / Rent To Own arrangments.

The Rent To Own market is growing as a trend, first because of the unaffordable prices that are still high in the real estate market.  This began with an overnight shift in which house pricing moved upwards by 6% or more while the short sales and foreclosures began to boost the market, instead of traditional sales and needs.  With this response, was the need for individuals to find a different way to move through their needs of owning a home while creating alterations with the needs which were a part of the market.

The Rent To Own advantage is growing in popularity in the real estate market because of the economic turns and the amount of foreclosures which have occurred in the market.  With those who are buying traditionally, there are also specific parts of the economy that are sky rocketing above others.  According to the Performance Urban Planning, Australia has one of the highest costs in housing affordability and it is creating moderate to high numbers which most families can’t afford.  Affordable is at a rating of 3.0 or less while most Australian homes rank at 6.3, with Ireland following behind at 5.4

The dilemma which is growing within the Australian real estate market is one which is not only compounded of the problems with the current market.  Many people are finding the Rent To Own as the only way to work within a specific budget while assisting with lifestyle needs.

If you are living in Australia, seriously looking at the different alternatives with real estate can also determine the options within the market.  When looking at the Rent To Own it can be seen that this has emerged from the large amount of unaffordable homes as well as the economic crisis which Australia has gone through.  By considering this option to buy, you will also have the capacity of moving into a home without the complexities of raised prices and not having the necessary affordability of your property.

When looking at venturing into a Rent To Own arrangment make sure the person(s) you are dealing is qualified and carries the Naitional Credit Providers licence issued by ASIC such as We Buy Houses 4 Cash or Ownahome.

Rent To Own Your Home