OptionToOwn
Christchurch Property Available Now
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Are you looking for buyer friendly terms like RentToOwn (that you can’t get from the bank) to make that home more attractive and easier to get into?
Are you fed up with renting whilst you try and save an ENORMOUS deposit?
Hi, I’m John Lodge and I’m the Owner of and Property Manager at OptionToOwn and have spent the last 16 years working in the property sector and have been investing in property since 1988. OptionToOwn is a specialist company helping to open the door of home ownership to more and more New Zealanders. We change the rules to get you your future home now.
The barriers to entry for first-time and returning home buyers have never been higher. We saw a real need to change the rules on houses so that normal people can afford to get into their own home sooner. To that end, we offer a number of what we call “Creative Finance” strategies, including the always popular Rent To Own, where you can get into your future home NOW, pay rent and build your deposit over time. This is designed to help good people get into their homes FAST!
→ See our current list of available Christchurch properties
Property Example – Rent To Own
Asking Price: $400,000
Getting Started Money (also called Option Consideration Fee): $15,000 (3-4% minimum)
KiwiSaver Balance: $15,000
Home Start Grant: $10,000 (based on a couple if eligible)
Rent: $400pw
Layby Payment (also called On-Going Option Fee): $153.84pw
Total Weekly Payment: $553.84pw
Term: 5 years
As what we call a “Tenant/Buyer” (Tenant now, Buyer later), with the above example property, you enter into an Option to buy and pay your Getting Started Money (also called Option Consideration Fee) of $15,000 and move into the property and start paying Rent of $400pw as usual, but also a Layby Payment (also called On-going Option Fee) of $153.48pw. At the end of 5 years (or any time before) you can take up the option to buy and you will have accumulated $80,000 (20% of the purchase price) as a deposit – via $15,000 up-front cash down, $40,000 ($153.84pw layby payment x 52 weeks x 5 years), $15,000 KiwiSaver balance and a $10,000 Home Start Grant along the way. You can then go to the bank for a 80% mortgage and purchase the property from the seller and own your own home. It’s as easy as that!
Note: the above is for illustration purposes only – an important part of the process is that you work with a mortgage broker who will assess your financial situation and what you can afford to ensure you are in a strong position to secure a mortgage at the end of the term (subject to a lender’s criteria of the time obviously). It is essential that you also get independent legal advice before proceeding.
Christchurch Properties Available – Get On The Preferred Tenant Buyer Email List. It’s FREE!
Once we secure a new property that fits our criteria, we immediately notify our Preferred Tenant Buyer Email List of the property. First we notify those who have provided us with specific information on the types of properties they’re looking for (tell us what you’re looking for here →) then we notify all other registered parties.
Because of the excellent investment property opportunities in today’s market we also add new Christchurch “Handyman Special” properties (where you can profit from adding value by doing your own house up) and “Rent To Own” properties and email these opportunities to our Preferred Tenant Buyer Email List… and they tend to get snapped up very quickly.
So, are you interested in getting on our Preferred Tenant Buyer Email List (it’s free!) so you can be notified of each new discount home or home on buyer friendly terms available? Yes? That’s great news!
Immediately after you sign up you’ll get full access to our current Christchurch Property List.
GET FREE ACCESS To Our Christchurch Properties Here →