BuyAssist Shared Equity is a proven Pathway to Home Ownership in Australia
Read on to find out what is BuyAssist shared equity and how is it a pathway to home ownership in Australia.
A recent report from Australian Housing and Urban Research Institute (AHURI) ‘Pathways to home ownership in an age of uncertainty’ highlighted
‘Increased house prices and cost of living have worsened the challenge of home ownership, with households—particularly low-income ones—unable to keep pace with market increases through their saving and budgeting strategies.’
Shared equity home ownership models such as the one managed by BuyAssist can play a critical role in addressing these challenges and is a proven pathway to homeownership in Australia, whilst also responding to the need for an additional three million homes across Australia over the next decade by assisting aspiring homeowners to buy a brand new home.
The AHURI report further states –
‘research indicates a diminished ability to save for a deposit through employment alone, with around 40 per cent of research survey participants expecting family assistance, whether direct finance or in-kind, to help them purchase’.
BuyAssist supports eligible homebuyers who haven’t saved a deposit and don’t have access to family assistance to purchase their home by addressing the deposit gap, providing a proven pathway into home ownership in Australia.
We match households to first mortgage lender partners and a suitable home through a program that is based around the individual homebuyer, making it more personable. With BuyAssist people have an opportunity to get into the housing market, with the program assistance acting in place of the typical 20 per cent deposit requirement.
We know that it is difficult to save a large deposit and stressful to think that without these savings you will not be able to pathway from private rental to buy your own home.
BuyAssist is making home ownership more affordable and attainable is a proven pathway to home ownership in Australia in 2023.
BuyAssist shared equity support provides eligible home buyers the support they need to purchase their new home, with the satisfaction that the ownership and responsibility for that property belongs to them. There is no hidden terms and conditions as transparency is key to understanding the program and making it work. Shared equity supported home ownership is becoming an increasingly popular way to buy your own home in Australia that not many people are familiar with.
Our mission is to create a greater balance in the housing market, developing sustainable, connected and prosperous housing communities. We have supported over 100 households to buy their own home with no deposit required and are supporting more households to do the same.
How does BuyAssist program work?
It’s simple. You just need to meet our eligibility criteria, which include steady employment, income limits, permanent residency or citizenship, and general lending criteria. You don’t need to save for a deposit or pay Lenders Mortgage Insurance. BuyAssist will connect you with one of our approved lenders and match you to a property that suits your budget and lifestyle. You can choose from apartments, townhouses, or house and land packages that meet an advised price point.
You will own 100% of the property and enjoy all the benefits of home ownership.
When you no longer need the equity support, you can repay it and BuyAssist will reinvest it to support another home buyer. This way, you are not only helping yourself but also helping other households pathway into homeownership in Australia.
Want a pathway to buy your own home? Don’t have a deposit? BuyAssist shared equity homebuyer support may be able to help.
Register now with BuyAssist for a no obligation assessment to find out if you are eligible for BuyAssist shared equity homebuyer fund support and the next step to pathway into homeownership.