Want to buy but cannot get a mortgage yet?
We offer the opportunity of renting with the option to purchase!
How does it work?
Choose any of our properties that are available on rent to buy, you can then rent the property on a standard long term contract of 11 months (6 month minimum stay), the contract will also state that the tenant has the option to purchase the property- at the end of or during the contract for a fixed price ( or current market value at time of purchase) reduced by any rent already paid.
Some owners will agree to a further 11 month contract.
If you do decide that you wish to purchase the property at the end of the contract (or during) then you will have the benefit of any rent that you have paid so far deducted from the purchase price.
You rent a villa for 800€ per month for 11 months with a rent to buy option of 250,000€.
By the time the 11 month contract ends you will have paid 8,800€ in rent- this will be deducted from the sale price of 250,000€, so the purchase price will now be 241,200€, if the owner decides to allow another 11 month contract then it would be further reduced to 232,400€ making the property even more affordable.
Paying a certain amount of money (rent) to the bank every month will also help you build a good relationship with the bank, they will see that you can afford to pay this much money every month, this can be helpful for obtaining a mortgage.
If you decide that you no longer wish to purchase the property at the end of the contract you will only have been paying to rent it so will not have lost any money. We do not charge 25% upfront like some other agents do because we know that for some people, the property may not be what they expected, or they decide after living in that particular town for 11 months that it isn’t actually where they want to live. We also appreciate the fact that most people do not have that much spare cash to start with.
Please use the search above to find a suitable property or to view all properties on the rent to buy scheme click view all listings - rent to buy.