Apartments WA launches a new way of buying called “Preposit”

Move in now, pay later with Preposit.

Apartments WA have introduced an exciting new way of purchasing apartments to the Perth market, designed to help homebuyers with little to no deposit. Called Preposit, the new initiative helps potential homebuyers overcome one of the biggest hurdles of homeownership.

According to Apartments WA Sales Manager Chad Toquero building a deposit is an all too familiar struggle for homebuyers. “Either they don’t have a deposit saved, the bank is telling them they need a 20 per cent deposit, or they’re currently renting and can’t afford to save for a deposit at the same time,” Mr Toquero said.

Preposit offers a solution to the issue, allowing homebuyers to save for a deposit while living in their new apartment. “With Preposit you get the keys to your apartment and can move in straight away,” Mr Toquero said. “Then you can go about saving your monthly rental payments which will be stored away and returned to you when you have enough to pay the deposit.”

“It is targeted at anyone, including those who either don’t have a deposit saved, have a little bit saved but need to save more or someone who is currently renting but wants to buy their own property,” Mr Toquero said.

“Think of it like Afterpay – The person agrees to buy the property now and gets to move in straight away, but the property is only settled once they have saved their deposit.”

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