Just after some thoughts and opinions on rent to buy homes. At present there is lots of advertising on my local BSS pages and community pages on FB for these kinds of houses. Offering people a brand new home with no deposit and taking your rental history into consideration. These homes are in new estates and would sell for around $450k.
I got into an online argument with the guy advertising these and he wasn't able to answer basic questions such as what happens to your FHOG and do you pay mortgage lenders insurance. The whole scheme screams dodgy to me!
I see so many people commenting on these posts that I would hate to see get ripped off (my own cousin being one).
Does anyone have any experiences/thoughts about these types of deals? To me if it's too good to be true it usually is.