Could rent-to-buy help to unlock home ownership for generation rent?

What if ‘dead’ money from rent could be used to offset against the purchase of a property?

As with other housing incentives, there are pros and cons to rent-to-buy, but many argue that there should be a place for it in Ireland. Photograph: iStock

As with other housing incentives, there are pros and cons to rent-to-buy, but many argue that there should be a place for it in Ireland. Photograph: iStock

If you do the sums, it can be quite staggering how the figures add up. With an average monthly rent of about €1,745 in Dublin, a single person or couple will spend about €21,000 a year, or more than €60,000 after three years. A long-term renter could easily spend a multiple of six figures on rent – enough to make a substantial dent in the price of a home.

But what if this rent were not simply dead money but could be offset against the purchase of the property the potential home-buyer is living in?

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