The question is, why are you still renting when there are so many bargains out there to be had?  If you are still renting because you haven’t got a big enough deposit for a house, then it is worth looking for some of the more interesting options out there.  It is such a great time to buy right now and there are people that need to sell.

There is no doubt that saving for a deposit can take 3 to 4 years of real discipline, while the frustration is in trying not to look at real estate and see all those great opportunities because you know you can’t afford to get to the bank anyway.

But seriously – can you afford the repayments on a loan? If  you can and the large deposit is the only thing holding you back – then consider finding out about the vendor finance option of ‘Rent to Buy’.  It is a form of vendor finance because the owner let’s you move in and lease the house, but takes a small deposit on the sale of the house up front. Letting you know that you have the legal right to buy the house under a terms agreement. The house is off the market and it is yours to live in until you can pay for it in full.  It is that easy. It is a try before you buy scenerio. You put a small deposit down plus start paying extra ’credits’ off the house, which all helps to get your full deposit together for when you go to the bank. 

The only reason I would put this to you is to demonstrate that you will be better off in the long run if you can get into a home at today’s price.  Even better for you if you can make an ordinary house look great with a bit of handy work, a good paint job or a fabulous garden. You might just be able to get ahead of the game and afford a property sooner than you think possible.

It is worth finding out about – you only need a fraction of what it takes to buy a house up front and you get to save your deposit while you are in living in your home already.  It really makes alot of sense to have alternatives to the huge upfront deposit. It might be worth checking out to see if you would qualify to be on a buyers wait list. No obligation and it is FREE to apply. www.renttobuy.com.au

I was reading an article the other day on what happens when you have bad credit. Did you know that something as small as not paying your phone bill can give you a bad credit report? The same goes for not paying overdue fines, or having arrears in rent.  You could be waiting 2 years or more to clear your bad report. 

Everyone should know what their credit history is. If you are ever considering going to the bank for a home loan and you suspect that you might just have a bad credit report best that you get one first to check it out, otherwise you could be very disappointed with the banks response to your request.  You can get a FREE credit report at Veda Advantage: http://www.mycreditfile.com.au Email:assist.au@vedaadvantage.com

However, there are solutions for you, that is if you have a job or are self- employed and you can make mortgage size repayments. I believe that the ‘Rent to Buy’ concept is a real option for anyone who has a bad credit rating but still has plenty of loan service capacity. I am showing young people every day how they can learn just how easy it is with DIY Rent to Buy.

If you want to learn to be a DIY ‘ Rent to Buy ‘ home owner. Visit us to get your FREE E-book on how it works  www.prosperitymanagement.com.au/diyrenttobuy