APARTMENT RENTAL NEWS

If you’ve ever wished you could test-drive a home before committing to it, you’re not alone. The dream of homeownership is exciting—but it can also feel overwhelming. That’s where Rent-to-own becomes a smart and practical solution. With Drewlo’s innovative “Try Before You Buy” program in partnership with The Ironstone Building Company, you can rent a beautiful bungalow townhome built by Ironstone, live in it comfortably, and decide later if you want to make it your permanent home.

This flexible approach gives you time, financial advantages, and peace of mind—all while earning up to $15,000 toward your purchase price. Let’s explore how this opportunity works and why it’s attracting savvy renters.

What Is Drewlo’s “Try Before You Buy” Program?

Drewlo’s “Try Before You Buy” program is a modern version of a rent-to-own housing model. Instead of jumping straight into a mortgage, you begin by renting a bungalow townhome. During this time, you have the option to purchase the property within three years.

Here’s the exciting part:

1. You earn $400 each month up to $15,000 toward the purchase price.
2. The purchase price is locked in each year.
3. You get to live in the home before deciding to buy.

This program makes the transition of Rent-to-own, from Renting to buying smoother and more secure for individuals and families who want flexibility.

How the Try Before You Buy Rent-to-Own Model Works

Understanding how this process works can help you decide if it’s right for you.

Step 1: Move Into Your Bungalow Townhome

You begin by renting a bungalow-style townhome. These homes offer single-level living, making them ideal for families, retirees, or anyone who prefers fewer stairs.

Step 2: Earn Purchase Credits

As part of the program, you can accumulate up to $15,000 that goes toward the purchase price if you decide to buy. This amount acts like a financial head start.

Step 3: Lock in the Purchase Price

One of the biggest advantages is price stability. Each year, the purchase price is locked in. In a rising real estate market, this can be a major benefit.

Step 4: Decide Within Three Years

You have up to three years to decide whether to purchase the home. This timeline gives you breathing room to improve your finances, credit score, or savings.

Why Rent-to-Own Is a Smart Move

Let’s look at the key benefits.

1. Try Before You Commit

Buying a home is one of the largest financial decisions you’ll ever make. With this program, you get to live in the property and experience the neighborhood, layout, and lifestyle before signing a mortgage.

No surprises. No regrets.

2. Build Toward Ownership While Renting

Instead of simply paying rent, you’re working toward ownership. Earning up to $15,000 toward your purchase price makes your monthly payments feel more purposeful.

3. Protection Against Market Increases

Real estate prices can rise quickly. By locking in the purchase price each year, you protect yourself from sudden market spikes.

For example, if the market value increases significantly within three years, your locked-in price could save you thousands.

You can learn more about real estate market trends through trusted sources like the Canadian Real Estate Association.

4. Time to Strengthen Your Financial Profile

Many renters want to buy but need time to:

1. Improve their credit score
2. Pay down debt
3. Save for a down payment
4. Increase income stability

This program gives you that time without losing the opportunity to own.

5. Ideal for First-Time Buyers

If you’re new to the housing market, this model reduces pressure. You don’t have to rush into a mortgage before you feel ready.

Financial Advantages of the Program

Let’s break down the financial perks clearly:

When you combine these features, Try Before You Buy becomes more than just a housing option—it becomes a strategic plan.

Who Is This Program Best For?

This opportunity is ideal for:

1. Young professionals planning long-term roots
2. Families who want stability before buying
3. Retirees looking for bungalow living
4. Individuals rebuilding credit
5. Buyers waiting for mortgage approval

If you see yourself in any of these groups, this program could be the stepping stone you’ve been waiting for.

Why Bungalow Townhomes Are So Popular

Bungalow townhomes offer several lifestyle advantages:

1. One-level living
2. Easier accessibility
3. Lower maintenance
4. Practical floor plans
5. Comfortable community atmosphere

These homes combine convenience with modern design. Living in one for up to three years allows you to fully understand its value before committing.

Common Concerns About Rent-to-Own

Some people hesitate because they’re unsure how rent-to-own works. Let’s clear up a few common questions.

Is This a Contract to Buy?

No. You have the option to purchase within three years—but you are not forced to.

What Happens If I Decide Not to Buy?

If you choose not to purchase, you can simply continue living in the townhome. The flexibility remains in your hands.

Is the Purchase Price Fair?

The price is locked in each year, providing predictability. This protects you from market fluctuations.

FAQs About Rent-to-Own, go from Renting to Buying

1. How much can I earn toward the purchase price?

You earn $400 each month, up to $15,000 that will be applied to the purchase if you decide to buy.

2. How long do I have to make a decision?

You have up to three years to exercise your purchase option.

3. Is the purchase price fixed?

Yes. The purchase price is locked in each year, giving you price security.

4. Can I improve my credit during the rental period?

Absolutely. The three-year window gives you time to strengthen your financial position.

5. Is this good for first-time buyers?

Yes. It’s an excellent stepping stone for renters who want to transition into ownership without immediate pressure.

Making the Transition Simple from Renting to Buying

The journey from renter to homeowner doesn’t have to be stressful. Programs like this remove many traditional barriers, such as large upfront down payments and immediate mortgage approval.

Instead of feeling stuck in a rental cycle, you gain:

1. A clear pathway to ownership
2. Financial incentives
3. Price stability
4. Time to prepare

That’s what makes Try Before You Buy such an appealing option.

Final Thoughts: Is “Try Before You Buy” Right for You?

Homeownership is a big milestone—but it shouldn’t feel rushed. Drewlo’s “Try Before You Buy” program in partnership with The Ironstone Building Company provides flexibility, financial benefits, and peace of mind. You get to live in a comfortable bungalow townhome, earn up to $15,000 toward your purchase, and lock in your price—all with a three-year decision window.

If you’ve been dreaming of owning but aren’t quite ready to jump in, this may be the perfect bridge between renting and buying.

Sometimes, the smartest move isn’t rushing forward—it’s stepping forward wisely.