Renters are getting set to move into their own dream homes in Seaford, as work enters the final stages of the first family homes and first southern homes released under the Malinauskas Labor Government's Rent-To-Own scheme.
The homes are being constructed by the SA Housing Trust helping long-term renters achieve their dream of homeownership.
The 32 nearly completed homes in Seaford are suitable for singles and families, with 16 two-bedroom and 16 three-bedrooms homes will be ready for tenant-purchasers to move in over the coming months.
They will join the dozens of South Australians who have already moved into homes through the initial 125 home pilot scheme.
The Malinauskas Government is now beginning planning for stage two of the program - a $413.5 million commitment to deliver 2,000 Rent-To-Own homes over eight years, announced ahead of the state election.
Proceeds from the sale of stage one homes will be reinvested back into the program to support ongoing delivery.
Rent-To-Own helps long-term renters save to purchase their homes while renting.
They pay an affordable 75% of market rent, then purchase the homes after two years at a price locked in when they sign the lease, protecting them from market increases. The money saved while paying a reduced rent helps the tenant purchaser to save towards buying their home.
Priority is given to people who have long-term employment and who have been long-term renters without opportunity to realise homeownership.
The homes are close to Seaford Railway Station and the development includes 43 car parks.
As put by Nick Champion
Rent To Own is giving hardworking South Australians a real pathway out of the rental market and into a home they can own.
Our opponents called this scheme niche, but the popularity of Rent To Own has shown just how misguided that was.
That's why we went to the election with a plan to significantly expand the program – from 125 homes to 2,000 homes.
Now, South Australians from the north to the south and in-between are seeing their frames go up, getting the keys to their own homes and getting off the rental roundabout.
