We work with first home buyers with deposits from 5% upwards. We can do investment properties with 20% deposit or more. Here is how to get it together.
1. Using Kiwisaver
Current kiwisaver rules mean you can access ALL of your Kiwisaver apart from the Free $1,000 kickstart. This includes your employer contributions, the IRD payments and your own contributions. In fact, Kiwisaver is a great way for many New Zealanders to get their first home deposit in order.
2. First Home Subsidy
A couple together looking at their first home are able to apply for an extra $10,000 from Housing New Zealand Kiwisaver to add to their deposit through the Housing New Zealand Kiwisaver Subsidy scheme. For couples looking at brand new homes you could be eligible for up to a $20,000 Subsidy.
3. Savings
Savings are the easiest way to get your deposit together. Money in your savings accounts or term deposits can add up significantly over time. You can also use equity in a home you already own.
4. Gifting
The Bank of Mum and Dad. Gifting from Family is a very common way to help first home buyers into their new homes. This is a one page form from your family member and can be extremely helping is securing the best deal.
The next step is to make an offer.
