We’ve been getting a lot of calls about one of our new programs; lots of curiosity, lots of questions and lots of excitement. So here’s my attempt to break it down for all those that haven’t called us … all of you that may be assuming our new Rent-then-Own Program is the same ol’ Rent to Own you’re used to hearing about. Let me assure you that it is not. In fact, it’s better!
This May, we will have completed the construction of our first rental development – Hartford Heights in the Blairmore neighbourhood of Saskatoon. And to complement our new rentals, we’ve created a unique new Rent-then-Own Program because we like helping hard working Saskatoon families become homeowners. It’s kind of our thing 🙂
Our Rent-then-Own Program
- You rent in Hartford Heights– a 3 bedroom townhouse or a 2 bedroom walk out unit (6 appliances, patios, balconies and all things awesome).
- There’s no sales deposits, no purchase obligations, no pressure, and no confusion. You simply rent until you are ready to own – and we’ll help you get there as fast as we can.
- While you rent, we’ll work with you to help you save for a down payment for one of our brand new homes in any of the neighbourhoods or communities where we are building (view some here). We’ll also keep you up to date on any new programs or new developments we’ve got in the works. All that stuff considered ‘top secret’ until we go public, we’ll make sure you hear about it first.
- If you have credit issues that have limited you from being approved for a mortgage (i.e., no credit or poor credit ) we’ll hook you up with the Credit Building Program (3 in-class workshops). You’ll learn how to re/build your credit and set goals to help you work towards positive credit. We’ve helped others, we can help you too.
- When you’re ready, we’ll fast track you through the application process for our down payment grants and guide you one-on-one through the mortgage process. We’ll take care of all the confusing paper work and we’ll explain all the legal mumbo-jumbo that comes with buying a home in a way that you understand.
- You move out of the rental at Hartford Heights and into your brand new home, complete with all the quality standards of our ownership units – maple kitchens, upgraded flooring, energy efficient appliances and heating systems, garages with automatic openers, and more.
Anyone trying to sell a home may try to use Rent to Own to sell a house that hasn’t had any interested buyers. Rent to Own opportunities, also known as ‘rental-purchase,’ are not regulated or held to any standards by government or legislation.
- As a tenant, you have the option of purchasing the same unit you are renting. You may have to pay a non-refundable deposit or pay extra money each month on top of your rent to keep this option open.
- You will likely be subject to a predetermined timeline in which you have to decide whether or not you want to buy the home. When this date comes, if you don’t purchase the unit your landlord may decide to put the home up for sale, restructure your current contract, or engage a new buyer … meaning you’ll likely have to find a new place to live.
- It will be up to you to figure out your legal rights and obligations. You’ll probably have to hire a lawyer to review all the contracts to make sure you don’t get yourself into a potentially expensive situation you can’t get out of, or one you can’t get your money back from, if you change your mind.
We’re excited about our Rent-then-Own program and we know it will help many families achieve their dream of homeownership. We’re helping people get to homeownship while they rent in a way that’s new, different, easy, and innovative … just like us!
Have questions about the Rent-then-Own Program? Want to apply to be one of our renters and participate in the Rent-then-Own Program? Give us a call so we can get ya there!