HG Christie Real Estate Agent, Daren Seymour made an appearance on The Rundown talk show this week where he spoke about renting to own.

Seymour told talk show host Clint Watson renting to own in very risking.  He said, “it’s something I don’t practice or encourage because most of the times persons are really not qualified.  They go into these transactions and then they you come up with about 50% of the funds and in three years if you don’t come up with the balance you’re gonna lose that, all of that.  And sometimes people go and say oh I’m gonna believe in faith that I’m gonna have it and they find themselves disappointed because you’re really not qualified for that.  Now that could work for someone who may be getting a lump sum, you know, in the next two or three years they know for sure.  You still have to be pre-qualified. You still have to know that this is something that will work for you.  Yes, it can work in some cases and you do have some developers like Tuscan Shores.  Some persons decide that they would self finance so they would owner finance.  It sounds good but you have to see whether that is really the thing for you.”

The government announced its own rent to own programme called “A Place To Call Home’ in 2022.