HLG047 Could rent-to-buy be your key to home ownership? (519 words)

This article tells the story of Jared and Nick, first-year apprentices in Australia facing the challenge of entering the property market, who, with the guidance of their teacher and a mortgage broker, explore and successfully navigate a rent-to-buy scheme, ultimately becoming homeowners.

Jared and Nick met at trade school and immediately became best mates. As first-year apprentices earning minimum wages and still living at home, each wondered how they’d ever afford to buy a place of their own.

Australia’s property market is challenging, but for young people just starting out, it can be totally demoralising.

While Jared and Nick would be able to afford rental payments, neither could see themselves scraping a home deposit together.