Home Buyers Guide
Home Buyers Guide.
Buying a home is an exciting milestone, and having the right information makes all the difference. Whether you’re purchasing your first home or simply looking for trusted resources to guide your next step, this guide brings together helpful tools, advice, and links to support you on your home-buying journey. And if you need a little extra help along the way, our friendly team is always here to answer your questions and offer guidance.
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First Home Buyers | Trusted Resources | Your Bank | FAQs
Government and Financial Support for First Home Buyers
KiwiSaver First-Home Withdrawal
If you’ve been contributing to KiwiSaver for at least three years, you may be eligible to use most of your savings to help buy your first home. You’ll need to apply through your KiwiSaver provider, and it’s best to do so early in your buying journey so the funds are ready when needed.
First Home Loan
The First Home Loan is designed to make buying a home more accessible by lowering the usual deposit requirement. While most banks require a 20% deposit, eligible buyers can purchase a home with as little as 5% using a First Home Loan.
This programme is administered by Kāinga Ora in partnership with selected lenders. It’s ideal for buyers with solid financial habits who need a little extra support to get started. You’ll still need to meet standard lending and income criteria, and the property must be owner-occupied.
Kāinga Ora Home Ownership Support
Kāinga Ora offers several government programmes designed to help first home buyers, and in some cases previous homeowners, take their first step onto the property ladder. These initiatives can include financial support, deposit assistance, and access to low-deposit lending options through approved banks and lenders.
Each programme has its own eligibility criteria, such as income limits and property requirements, so it’s worth exploring which options best suit your situation. Kāinga Ora’s tools and resources also provide valuable guidance on budgeting, eligibility, and the buying process.
Trusted Information and Resources
Finding clear, reliable information is one of the most important parts of your home-buying journey. The resources below offer expert guidance, practical tools, and independent advice to help you make confident, informed decisions. From understanding deposits and how different mortgage types work to budgeting, making an offer, and planning ahead, these trusted sites can guide you through every step of the process.
Canstar
Canstar compares a wide range of financial products and lenders across New Zealand. Their home-loan guides outline current interest rates, first-home buyer incentives, and bank offers, making it easier to understand what options are available before you apply.
settled.govt.nz
Created by the Real Estate Authority, Settled.govt.nz provides trusted, government-backed information about the entire home-buying process. From understanding sale methods and LIM reports to making an offer and moving day checklists, it’s a valuable resource for anyone wanting clarity and confidence when purchasing property.
Sorted
Sorted is a free, independent website from Te Ara Ahunga Ora Retirement Commission that helps Kiwis make smarter money decisions. It offers simple tools to help you plan, budget, and understand your mortgage options - including calculators for deposits and repayments, guides on managing debt, and tips for long-term financial wellbeing.
Our team can connect you with reputable, experienced mortgage brokers who understand the lending landscape and can help you find the right finance solution for your situation.
Exploring Finance Options with Your Bank
It’s always worth checking what support your bank offers if you’re thinking about buying or building a home. Most major New Zealand banks have dedicated first-home buyer pages with helpful guides, tools, and home loan calculators to help you plan your next step.
Some banks also offer special incentives or reduced-deposit options for eligible buyers, so it pays to compare what’s available and see which lender best suits your goals.
If you’re unsure where to start, our team can connect you with trusted mortgage brokers who can help you explore different lending options and make the process simpler.
Below you’ll find links to each bank’s Home Buyer Help pages, where you can access tailored advice and first-home resources directly from their teams.
Frequently Asked Questions
Navigating the property market can feel complex, especially when you are faced with new terminology, processes, and decisions. Our FAQs are designed to simplify the journey by answering common questions and providing clear, practical information to help you move forward with confidence. Whether you are just starting to explore your options or need clarity on a specific step, you will find helpful guidance here. And if you would like more personalised support, our team is always available to talk things through and help guide you in the right direction.
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The first steps to buying a new home can include:
Determining you budget: this involves assessing your financial situation including your income, expenses, and savings, to determine how much you can afford to spend on a new home.
Researching the market: this involves researching different areas and properties to get an idea of what’s available in your budget.
Getting pre-approved for a home loan: This involves speaking with a lender to get pre-approved for a home loan which can provide you with a clear indication of your budget.
Engaging with the professions: this involves engaging with our agents, a lawyer, and a mortgage broker to help you navigate the buying process and ensure that you are making an informed decision.
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When choosing a property to purchase, there are several things to consider, such as the location, size, and condition of the property. It’s also important to consider your budget and any ongoing costs associated with the property. You can talk to one of our agents to help you make an informed decision on which property is right for you.
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A pre-approval is an initial assessment from a lender that indicates how much you may be able to borrow for a home loan. This can be helpful when you’re searching for a property, as it provides clear indication of your budget and can help you to negotiate with sellers. A pre-approval is important because it can also help you to avoid disappointment if you’re unable to secure a loan for the amount you need.
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The amount you can borrow for a home loan will depend on several factors, including your income, expenses, and credit history. It is important to speak with a mortgage broker or lender to determine how much you can afford to borrow and what type of home loan is best for your financial situation.
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Yes, in many cases you can use your KiwiSaver savings toward the purchase of a property. If you are a first home buyer, you may be eligible to withdraw your KiwiSaver funds for your deposit, provided you have been a KiwiSaver member for at least three years.
KiwiSaver withdrawals can take up to 15 working days to be processed, so it is important that your sale and purchase agreement allows enough time for the funds to be released before your deposit is due. Eligibility criteria apply, and conditions may vary depending on your situation, so it is recommended you confirm your options early in the process.
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A First Home Loan is a lending option designed to help eligible first home buyers purchase a property with a lower deposit. In some cases, buyers may be able to purchase with as little as a 5 percent deposit.
These loans are underwritten by Kāinga Ora, which allows participating banks and lenders to accept lower deposits than they normally would. There are specific eligibility criteria around income caps, property price limits, and owner-occupier requirements, and not all buyers or properties will qualify.
A mortgage adviser or lender can help confirm whether a First Home Loan is suitable for your situation and guide you through the application process.
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Yes. If you rent out a new build property in New Zealand, you may be able to claim certain expenses as deductions against your rental income, subject to current tax rules.
For new build investment properties, interest deductibility may be available for a defined period, which can help reduce taxable rental income. Other standard rental property expenses, such as rates, insurance, and ongoing maintenance, may also be deductible where applicable.
Tax treatment can vary depending on individual circumstances and may change over time. For personalised advice, we recommend speaking with a qualified accountant or reviewing guidance from Inland Revenue.