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  2. Buying back your home

What price will my home be?

The price to buy-back your home is set at the time of purchase, so you always know what you're working towards.

The price formula is really simple. The starting price is the price OwnHome purchases the property for (OwnHome pays for stamp duty when we purchase the property). Each fortnight the buyback price increases by 0.143%. This rate doesn’t change, regardless of what happens to prices in the property market.

If property prices have grown faster than 0.143% each fortnight, you keep the difference. For instance, if we bought a $1,000,000 property for you, and 7 years later you purchased it back from OwnHome at the pre-agreed price, if the market had grown at 7%p.a., you would have made $307,462 on top of the security deposit contributions you paid.

The goal of OwnHome is to help everyone become a homeowner. We know that the purchase price is an important part of making that dream a reality for you, and so we're focused on making sure that we buy great homes at great prices.

One way we do this is by applying a rigorous and data-driven approach to property purchases. We don't just rely on the standard three comparative sales that agents provide—we go above and beyond to find the most recent and appropriate sales, we talk with strata committees, can commission our own building and pest inspection reports, and we look through all the legal documents with a fine-tooth comb. Importantly, this entire process is guided by you, with our support.

If you'd like more information on how OwnHome works, or would like to talk through the specific purchase process, complete an application online and speak with a member of our friendly team.