Do you want to buy a home in Irvine but aren’t ready to make the deal? If the answer is yes and you are also willing to rent from The Irvine Company (TIC) in the meantime, TIC  has a proposal for you: The Irvine Company’s “Renter Equity Program” allows qualified Irvine Company rental residents to accrue up to 10% of their monthly rent toward the purchase of select homes in the following Irvine Pacific neighborhoods:

Laguna Altura

Stonegate

San Marino in Woodbury

Here are more details on the program:

• Eligible TIC renters are automatically enrolled in the company’s “Renter Equity Program.”
• During the first year of renting, eligible participants accrue 5% of the monthly rent.
• During the second year of renting, the credit accrual rates increases to 7% of the monthly rent.
• During the third year, the credit accrual rates increase to 10% of the monthly rent.
• The maximum amount of rent equity that can be accrued is $5,000.

So what do you think? Is this a good strategy for buying a home in Irvine? Is it enough to make you choose an Irvine Company rental while you are looking for a home to buy?