Right Sizing

Today’s downsizing baby-boomers want space, amenities and luxury finishes in a turn-key home.

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Port Moody’s “Rent-to-own” lottery draw

Out of hundreds of people, only 30 were picked Monday night to have the unique opportunity to “rent-to-own.” All of the rent the winners will pay on a new condo in Port Moody will go towards a down payment to purchase the unit after two years. Ashley Burr has the details.

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Port Moody ‘rent-to-own’ condo scheme overwhelmed with demand

For 30 families in Port Moody, it will be like winning the lottery. Starting next month a unique path to home ownership will be launched that partially removes the biggest obstacle: a down payment. A new condo development near Rocky Point Park is being marketed to buyers with a unique twist. Just under ten per cent of the 358 units will be considered rent-to-own.

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