Square Peg Founder Stories
Tackle housing affordability and the rental crisis in Australia, with James Bowe from OwnHome
Aug 31, 2022
James Bowe, Aussie startup helping millions of Aussies get past the initial hurdle of saving for a home deposit, discusses tackling housing affordability and the rental crisis in Australia. OwnHome offers a rent-to-own model, reducing upfront costs and partnering with Commonwealth Bank for a smooth transition to full-home ownership. James also reflects on his idyllic upbringing, building businesses, and the importance of team values.
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Quick takeaways
- OwnHome offers a rent-to-own model that helps Australians achieve home ownership by allowing them to move into their desired property immediately while building their security deposit through fortnightly payments.
- Housing affordability and access to home ownership is a nationwide issue in Australia, affecting not only low-income individuals but also high-income earners who lack access to intergenerational wealth, and OwnHome aims to provide a financially realistic path to home ownership for this group.
Deep dives
Own Home: Solving the Housing Access Problem
Own Home, an Aussie startup, is tackling the housing access problem in Australia. With skyrocketing house prices and the need for a large deposit, many Australians struggle to achieve home ownership. Own Home offers a rent-to-own model that allows aspiring homeowners to move into their desired property immediately, while building their security deposit through fortnightly payments. They assist customers in finding suitable homes, handle property inspections, negotiate fair prices, and provide a managed in-home experience. The model aims to provide a financially realistic path to home ownership for those who lack intergenerational wealth but can afford mortgage repayments.
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