OwnBrix is proud to offer its members a true Rent to Buy Program. No matter who you are, you can use this exciting program to own your home without a loan of any form. At any time you will be able to see how much of your home you legally own. You choose how long you want to take to buy the home and you choose how much you can afford to pay each month.
To show you how Rent to Buy works, the property below is valued at $40,000 and the rent is $550 per month. Let's look at some examples of how quickly you could own this property, mortgage free.
( In Addition to Rent )
|Time to Own the House|
|$2,500||$100||12 Years 0 Months|
|$5,000||$200||7 Years 7 Months|
|$10,000||$300||4 Years 11 Months|
Hover over the numbers to find out more about the OwnBrix Rent to Buy program.
As soon as you make a payment towards the purchase of your new home, it will immediately show as legal ownership of that part of the house.
You can at any time see exactly how much of your home you own, in both percentage terms, and in value terms. For example: if you have purchased $4,000 of Brix on a $40,000 home it will clearly show that you own 10% of the house and have $4,000 of equity value.
OwnBrix does not use the traditional methods of credit scoring, we fit our product to your financial means.
This means that you can choose how much deposit you want to put towards buying your very own home, and how much you can pay each month. You have to pay the agreed monthly rent plus a capital amount each month which goes towards purchasing your property. The larger the deposit and monthly payments, the faster you will own your home, simple as that.
OwnBrix is aware that millions of good people have lost their homes where interest rates have soared, making the payments to buy a home impossible. This is something that we did not want for our members, therefore from the day you sign to buy your new home, the rent, capital payment and house value will all be linked to the rate of inflation.
This means that the true cost to yourself, will always remain the same.
We are aware that life can be a bumpy road, so we have made it so that as long as you pay your rent, you can reduce your capital payments in times of need, and increase them when you're feeling flush.
This will, of course, affect how long it will take to buy your home, but through your portfolio page your amended figures will be always clearly shown, and if you do come into some money you can buy more Brix whenever you want.
OwnBrix has tried to create the most flexible way of buying a home, so we have made your Brix ownership fully portable.
If you find it necessary to move home during the purchase period, we require only 90 days notice, then you can either, move yourself and your investment into another OwnBrix property, take out your invested cash without penalty, or, leave your money invested in the house and receive a return on your investment.
For each part of the property that you own, you will receive back a share of the rent that you are paying.
This 'rental income' is automatically used to buy more 'Brix' in your home. So if, for example, you own 10% of the house, then 10% of the net rent you pay will be used to buy more of your home. The more you own, the more you invest each month in buying your home. It is this accelorator principle thats greatly reduces the time it will take to buy your home outright.