Rent2buy in Cape Peninsula and Gauteng
Tenants battling to pay their rent and save for a deposit for their new home can now use their rent to buy their new home.
Uniquely, this product is available for all approved properties in Cape Town and now also in Gauteng, priced from R400,000 to R1,8m.
Rent2buy is the brainchild of residential market innovator and attorney, Meyer de Waal, who has worked tirelessly to include any approved property for sale in the market currently.
Whether you want to sell your residential property or buy a new real estate investment, a house or an apartment, your Property Angel is here to help you find your historic home.
Property Angels – Success Together
Pre-approved potential buyers identify the home they wish to purchase and we assess whether it is correctly priced,” says de Waal. If it ticks all the boxes, our financier purchases the property and we enter into an installment sale agreement with the buyer who rents the property for 24 months.
Estimated rental per month
Qualifying buyers’ monthly rental will calculated as follows: Your purchase price x 14.4% x 1/12. This is what it looks like on paper:
• Purchase price of R1,800,000 x 14.4% = R21,600 per month [estimated]
• Purchase price of R1,500,000 x 14.4% = R18,000 per month [estimated]
• Purchase price of R900,000 x 14.4% = R10,800 per month [estimated]
• Purchase price of R600,000 x 14.4% = R7,200 per month [estimated]
• Purchase price of R400,000 x 14.4% = R4,800 per month [estimated]
The benefit is that the purchase price will remain the same for 2 years to give a Rent2buy buyer the time to get his or her “bucks in a row” and credit approval resolved to apply for a normal home loan.
Besides the great opportunity Cape Town and Gauteng buyers from R400,000 to R1,8m have to own their very own home within two years, the original purchase price remains static.