Rent to Own
Rent-to-own offers an alternative path to homeownership in Ontario, particularly for individuals who aren't yet able to qualify for a traditional mortgage. This model allows prospective buyers to move into a home as tenants, with the option to purchase it later—typically after two to five years—at a price agreed upon upfront. It's a way to secure a home today while working toward mortgage readiness.
This option is often attractive to those with temporary financial challenges:
It provides time to improve your finances while locking in a purchase price and building equity.
Rent-to-own agreements usually include two parts: a lease with monthly rent (sometimes with a portion credited toward the future down payment), and an option-to-purchase contract outlining the future sale price and timeline. An upfront option fee or deposit is also typically required and may be applied to the purchase price if the buyer follows through.
Benefits include price certainty, the ability to build credit and savings while living in the home, and the emotional stability of putting down roots early.
For the right buyer, rent-to-own can be a stepping stone toward homeownership, offering structure, flexibility, and hope in a challenging housing market.
To learn more, just fill in the form below to contact Tom for a free consultation. We'll sit down with you to analyze your current situation and discuss your options so you're able to make an informed decision!