House hunting to purchase rather than rent can be a daunting process. Not only do you want to ensure that the location is perfect, but you also want the asking price to be within your budget, number of bedrooms, amenities and more! Thus, once you have found your dream home, it is likely you want to get the sale concluded as soon as possible. But property acquisition is not as straightforward as that.
If you have previously rented office accommodation in a city centre location, you may have been reasonably happy with this arrangement up until now. However, you want to expand your operation and may also want to take control of your expenses, so you may be looking to buy a piece of property instead. This will allow you to sublet part of the building while using a prime portion for your operation, and you may even be able to 'name' the building for your own branding purposes.
For millions of Australians, purchasing a home will be the biggest investment they make. Most people take between 20-30 years to fully pay off their homes even after putting down a hefty down payment.
In an attempt to promote home ownership, some parts of the country are implementing rent-to-own schemes. 'Rent to own' refers to the process of paying your normal rent amount, part of which goes towards accumulating equity on the property.