Can't afford a down payment? Unique 'deposit-to-own' townhomes to hit the market in Langford

Posted: Apr. 12, 2023 7:05PMJust off Westshore Parkway next to Langford Lake, a row of townhomes are being built. But with high-interest rates and inflation slowing sales, one development company is getting creative.

No, it’s not rent-to-own, Liberty Ridge Homes are offering deposit-to-own for those who can afford the mortgage payments but don’t have the capital for a big down payment. “I think we’re the only ones that are doing it because other people feel that it’s beyond their comfort zone but we believe in our buyers and we believe in our market,” said Weldon.Sign up for our newsletter to get breaking news and daily digests sent to your email.And while profit may not be high, the development company and its parent company are willing to bet in a cooling market the deposit-to-own program will move units.

In the US it is called rent to own. Been around for decades.

Nothing unique. That's equivalent to the Agreement For Sale. No longer used in LRO. If memory serves. Who has title. Builder or buyer. ?

last ditch sales effort. look at those things. jeez.

There are a number of people called in to Langford zoning meeting desperate for townhouses.Should be beating down the developers door.

What is the point when your fake economy is is falling apart war is in the air and we are not the good guys

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