You're renting anyway – so why not rent the home you're going to own?
This is not a standard rental. BeHomed's rent-to-own model gives you the opportunity to rent this property at £715 per month, with a legally agreed option to purchase at £100,000 within 5 years. Your purchase price is locked in from day one: no surprises, no gazumping.
This could be right for you if you want to own but can't get a mortgage just yet, you're self-employed or have irregular income, you're rebuilding your credit, or you need more time to save your deposit.
How the finances work: monthly rent is £715, fixed for the full term with no increases. A £2,000 option fee is required upfront. This is non-refundable – however, if your circumstances change, your right to purchase the property can be passed on to another buyer, giving you the opportunity to recover your fee. A small monthly top-up is also required, helping you build toward your 10% deposit of £10,000 and putting you in the strongest possible position for a mortgage at the end of the rental term.
This spacious two-bedroom mid-terraced home (76 sqm) features a comfortable lounge entered via a front porch, and a kitchen to the rear with direct access to the outside space. Upstairs there are two good sized bedrooms (the main bedroom with built-in wardrobe) and a family bathroom. Outside there is a private rear yard with useful storage and on-street parking to the front. The property has gas central heating and double glazing throughout. The property is well placed for local schools, shops, parks and bus links, with easy access to Doncaster city centre and the A19 and A1(M) for commuting further afield.
Unlike a standard rental, you're free to decorate and personalise this home to suit your taste, and with landlord approval, make improvements too – and because your purchase price is fixed from day one, any work you do adds value that's yours to keep.
For more information about how rent-to-own works or to enquire about this property, please contact the agent.