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September 16, 2025
Save While You Rent: A Smart Renter's Guide to Future Home Ownership
Think you have to choose between renting and saving for a house? Think again.
With Drewlo's Rent.Save.Own., renters no longer have to put homeownership on the back burner. You can live in one of Drewlo’s luxury rental communities while saving automatically toward an Ironstone home.
Here Are Smart Financial Strategies for Renters:
1. Use Rent.Save.Own. to Automate Your Progress Every month, a portion of your rent goes directly into your future down payment. No extra effort needed. Over two to three years, this can add up to thousands in savings.
2. Set a Separate Monthly Goal In addition to Rent.Save.Own., aim to save an extra $50 to $100 monthly into a high-interest savings account. This builds cushion and discipline.
3. Automate Everything Apps like Wealthsimple or your bank's auto-transfer feature make saving consistent and stress-free. Set and forget—and watch your funds grow.
4. Track Your Spending Use apps like Mint, YNAB (You Need A Budget), or even a simple spreadsheet to analyze your monthly expenses. You might be surprised how much can be redirected to savings.
5. Learn About Additional Incentives Did you know Ontario offers land transfer rebates and federal programs like the First-Time Home Buyers' Incentive? These can be combined with Rent.Save.Own. and Ironstone's HomeStart program for maximum support.
In short: Renting doesn’t mean standing still. With the right tools and mindset, it can be your launchpad to ownership.