With saving for a deposit being a major barrier for many purchasers, a family of three have recently taken up Mirvac’s award-winning Rent to Buy initiative at Claremont by Mirvac.

The first of its kind in WA, Mirvac’s Rent to Buy campaign helps pave the way to home ownership. The initiative allows potential buyers to live in an apartment for up to two years and put all of their rental payments towards a deposit and stamp duty. 

A mining Project Manager and his family made the move to Claremont by Mirvac earlier in the year after deciding they were ready to stop renting and settle in Perth. 

“Rent to Buy appealed to us as we were saving to buy a property, and the program meant we could move into the apartment we were looking at while putting our rent payments towards a deposit. Without Rent to Buy, we would have needed to wait for an additional two years to save. 

Claremont was particularly attractive because of its prime location. Close to the city, beaches, public transport, parks and my son’s school, it has everything you need within a very close distance and is convenient for our lifestyle,” said the Project Manager. 

General Manager Residential Development WA Paige Walker says similar models are popular overseas and are starting to gain more traction over east. 

“People are looking for ways to get a foot in the door when it comes to owning a property, so we are pleased to be leading the way with Rent to Buy in Western Australia. We want to provide our customers with more options and support them as much as possible when trying to find a home that suits their needs. 

Since launching Rent-to-Buy last year, we’ve seen a very positive response from potential buyers. In some instances, the initiative has given them confidence to come into the sales office and they have ended up being able to purchase an apartment through other means such as Keystart, which they never would have thought would be possible,” said Ms Walker.

Rent to Buy is available to buyers at Claremont by Mirvac. Participants enter an option to buy and lease their apartments of choice, paying a minimum 2.5% option fee. To further assist financially, they are not required to pay strata or council rates during their rental period. 

At the end of the two-year period, the option fee and fortnightly rental payments will go towards the deposit and stamp duty. The purchaser will then enter into a final purchase agreement under normal finance conditions with an independent provider. 

Mirvac was awarded the prestigious 2019 Urban Development Institute (WA) Award for Excellence. 

Claremont by Mirvac offers a range of apartments and residences. They feature sophisticated, functional, open plan living with generous ceiling heights and high-quality European appliances, fittings and finishes. 

The development overlooks the iconic Claremont Oval and is situated in a prime location between the ocean, river and CBD. Surrounded by key amenities, you’ll find Claremont Quarter, public transport and Claremont Golf Course all within short walking distance. 

You can visit the sales centre at Claremont by Mirvac seven days. For more information click here


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