Home ownership ‘re-starters’, who once owned a property but have been stuck in the rental market for the last ten years, will be given the chance to achieve the dream of owning their own home again through the state government’s Rent To Own program.

Work is underway on the planning and construction of the next 300 Rent To Own homes, with first homebuyers and ‘re-starters’ to be the focus of allocating the properties.

Housing ‘re-starters’ have owned property at one point, but not in the last 10 years, have been long-term renters and are struggling to get back into home ownership and longer-term housing security. Typically, this could be people who have lost or divided assets in a separation.

85 Rent To Own participants have already moved into their homes, with all 125 homes in the initial pilot program now allocated to purchasers.

Of the first 125 purchasers:

• 114 purchasers are first home buyers
• 117 had been renting in the private sector
• 4 were SA Housing Trust tenants
• 11 were on the Single Housing Register for public or community housing
• 4 were Community Housing tenants
• Participants ranged in age from 21 to 61-years-old

*individuals may fall into more than one category

The innovative Rent To Own scheme was launched by the state government ahead of the 2025 State Budget.

Successful applicants sign a sale contract and lease agreement concurrently and the homes are rented at 75% of market rent for up to two years.

The purchase price is locked in at the beginning, with the discounted rent and fixed price assisting tenants to save for a deposit. Participants can purchase earlier if they have the financial means to do so.

The next tranche of homes form part of a $1.3 billion commitment to deliver 2,000 Rent To Own homes over eight years, announced by the government ahead of the state election and supported with funding through the federal government.

South Australia has an ageing population and has marked a decline in nuclear families and a rise in constellation families.