So.... in this market - is Rent to Own an option?

Just putting it out there!

I am so sick of the rental roundabout. Not that we have been doing it long but I am frustrated with the inability to improve the property.

On the mainland there are many options to Rent to Own. You can pay a high rent and a percentage of it becomes your deposit when you eventually purchase the property. I have been reading up on it a bit and I have devised my personal wish list of "Rent to Own"

• The house has to be habitable
• Pay market rent plus $1000 per month (as deposit)
• Agree on a purchase price and sign a contract accordingly (could be slightly inflated to reflect increases in property values)
• Settle within 2-3 years.
• be able to improve the property as we live there - achieving two things 1. hopefully an improved value creating more equity later and 2. making it ours
• be in Launceston or within an easy commute to the CBD

As previously confessed I am a realestate.com.au addict. Over the months of trawling the site I have seen regular homes remain on the market and are still on the market today. Some have been empty for all that time. There doesn't appear to be anything "wrong" with them ..... maybe they are a tad overpriced or lack some of the wanted space or convenience the buyers want. Maybe they need some TLC or are missing a perceived necessity like car parking - who knows but why isn't there an alternative to remaining vacant and unsold???

I am putting it out there because I want the opportunity, NOW, not in 3 years time when the business can show the figures the Banks want. Not when I have paid out more than a deposit in rent year after year and have nothing to show for it, surely there has to be a way.....