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A Different Approach To Getting A House

Day 472, 09:33 • Published in Thailand

• by Marius Fynn

While the Housing lottery is great (I got my house that way), it cannot serve everyone, and the houses they generally lottery away are Q1 or Q2.

NoneSuch, from eUS, has come up with a great idea for getting people houses.

---Copy and Paste from his article---

Most of the funds for this project came from the UIP's accounts so I really shouldn't be calling this project my own. I only did it because I think it's just a more appealing title in the sense that people may actually click it.

- What This Is -

This is what the title states it is, a rent-to-own housing agency. Got low wellness? Rent one of our houses for dirt cheap prices and if you should rent it for long enough you get to keep it, simple as that. I'm not too worried about people running off with them because we will every member sign a contract prior to the donation process. We're also not worried because this won't be for everyone. While I would wish it could be, even with contract enforcement there's still a chance that someone will run off with a house and we'll never see it again. This is a project based on goodwill, so please don't try and cheat us.

- The Rates -

Q1 - $8 a week/110% of current market price to buy
Q2 - $16 a week/115% of current market price to buy
Q3 - $24 a week/120% of current market price to buy
Q4 - $32 a week/125% of current market price to buy
Q5 - $40 a week/130% of current market price to buy

That really isn't much, not even for the Q5. If you are from another country we will not take foreign currency but will accept the amount of USD in the form of Gold. It's roughly .15 Gold per quality level.

- Contracts -

We still don't technically have one yet, but we'll get one eventually. I want to go ahead and start this program already so that's not going to stop us.

- "Us" -

I noticed that I was saying "us" and "we" a lot... To clarify, a few other UIP members are going to be involved in this along with a few housing companies depending on how well this thing goes.

- How To Contact "Us" -

http://eusforum.com/index.php/topic,1474.0.html

You can either talk to us there or PM my personal account. There's also a poll about which account this program should be run out of. If you would, please just vote for the org that you think you would trust the most...or have the most fun with... haha.

-- End copy and paste --

Ok, so there's the article. I'll post updates and try to answer any questions in the comments.

Comments

Marius Fynn Day 472, 09:49

Ok, he made a typo...

Ok, an obvious question is: How many weeks does that translate to?

NoneSuch answered that in a update to his article:

Should you decide to opt out of renting and choose to buy the house, you will still have to pay the listed percentage. I ran the numbers and it would take around 40-45 weeks (Q1-Q4. The Q5 is another about another 20 weeks) to actually pay one off if you simply rented, which I know is a long time. This would have originally been just a rental company, but I didn't want to totally screw someone over if they rented for a long time.

Marius Fynn Day 472, 09:55

Another update:

- Upgrading -

I owe this idea to Carthage. Should you be 20 weeks into renting a Q1 house and you want to upgrade to a Q3 house, don't worry. Your 20 weeks of payment will still be on record and you will only have to pay the difference in the end along with the new rate.

Jack Roberts Day 472, 12:51

An interesting idea. Thanks for sharing that Marius.

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