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The APNU’s rent to own house plan is a good initiative which will benefit our young people from all walks of life
Dear Editor,
Kaieteur News – Presidential Candidate of the APNU, Aubrey Norton, has unveiled a plan that would see every Guyanese who is 18-years-old or older, earns less than $300,000 to $400,000 per month and not being previous owners of a house lot being allocated a free house lot and more importantly getting their own home through a rent to own payment scheme under an APNU-led government.
At a rally in the Village of Plaisance in Region 4 on Sunday night, Mr. Norton said the move forms part of a plan by his party to empower people and put them first in all of the party’s plans.
I am happy that the Opposition Leader; Mr. Aubrey Norton has found a solution aimed at enhancing citizens’ ability to acquire homes. According to the APNU Presidential Candidate, Mr. Norton this measure has the potential to significantly increase the number of families obtaining suitable homes, all while relieving them of the challenges associated with engaging financial institutions.
With a massive backlog of applications at the Housing Ministry, Norton said that his party came up with a “rent-to-own scheme”. This programme, he added, is part of the A Partnership for National Unity (APNU)’s “Poverty Reduction Strategy”, which it hopes to execute if the electorate decides to return the party to power.
“For you to reduce poverty, you need to take direct action. One of them that we’ve identified very early is what we call, the ‘Rent-to-own’ Scheme…A lot of time people get lands – many of them aren’t getting – but they don’t have the capacity to get loans, etcetera. What we recommend is that government builds houses and people pay rent, but that rent is going as if it is a mortgage. And so, you set the final cost for the house and when they (citizens) finish paying that, the house belongs to that person,” Norton explained. He said with this method, prospective homeowners will not be burdened by sourcing down payment customarily associated with accessing loans from financial institutions.
The APNU’s policy on rent to own payment scheme will certainly help a lot of young people to become homeowners with Government help. It was achieved in the 80s without Oil money then it can be done again. It’s an investment in our young people 18 and over and those earning below $400,000.
In 1980, Guyanese were able to access turn-key housing at a cost of G$12,000. Half of this cost was FREE, and the homeowner repaid the remaining G$6,000 at an interest rate of 0%.
The average plot of land for these houses is approximately 60 ft by 200ft. The house has three (3) bedrooms with a living room, kitchen, toilet, and bathroom and before the housing scheme was opened, all relevant infrastructure was put in place, including drainage, asphalt roads that remain serviceable to this day, water supply, and electricity.
Many of these houses remain standing and habitable to this day under the Feed, Clothes, and House the Nation (FCH) program under the leadership of President Linden Forbes Sampson Burnham.
The reintroduction of the rent to own program under Mr. Aubrey Norton’s presidency will be good for our young people since many of them are single parents, renting and could not even obtain a loan to build a house from any financial institutions due to their poor salary/ wages in this country. The 2015 oil discovery led Guyana to become the world’s fastest-growing economy, recording the world’s highest real GDP growth rate in 2022 and 2023. Therefore, it is time every Guyanese regardless of their race, sex, sexuality, political affiliation live a better life and for a Government 3f’s favorite, family and friends.
The A Partnership for National Unity (APNU) Coalition under Mr. Aubrey C Norton and his Prime Ministerial candidate Ms. Juretha Fernandes stands for a People-Centered Development – Putting You First. The Choice is clear – come September 1st, Vote with Purpose, Vote for Power, Vote like a Boss for APNU for a better life for all.
Yours sincerely,
Rayvonne P. Bourne
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