Get your deposit together quicker when you build with Golden Homes

If you are ready to buy your first home and are thinking about building, now is the perfect time to do it!

As of April 1st 2015, there are two government grants available to support Kiwis buying their first home: HomeStart, the Government's new KiwiSaver grant and Welcome Home Loans, from Housing New Zealand Corporation. These are two separate grants, however if used together by eligible individuals or couples, it is possible to fund the deposit for a new home at no additional out of pocket cost.

HomeStart allows first home buyers to allocate all of their KiwiSaver contributions (including individual contributions, employer contributions and government tax credits) to be used towards the deposit of a first home purchase or build. With the introduction of the KiwiSaver HomeStart Grant on April 1 2015, first home buyers are potentially eligible to receive grants of up to $10,000 for individuals and $20,000 for couples. 


HERE'S HOW!

When first home buyers build a Golden Home, the support is potentially doubled in comparison to buying an existing home!

BUILDING A GOLDEN HOME

3 Years in Kiwisaver

$12,000 (max)
Couples Grant 


or

$6,000 (max)
Single Person Grant 

4 Years in Kiwisaver

$16,000 (max)
Couples Grant 


or

$8,000 (max)
Single Person Grant 

5 Years in Kiwisaver

$20,000 (max)
Couples Grant 


or

$10,000 (max)
Single Person Grant

Compare these figures to first (existing) home buyers, and you will see that the grant figures are  halved! 

In light of the new LVR restrictions, it seems as though investors are likely to be less active, which is fantastic news for first home buyers. 

Refer to Housing New Zealand's website for full terms and conditions: http://www.hnzc.co.nz/ways-we-can-help-you-to-own-a-home/kiwisaver-homestart-grant-and-savings-withdrawal/

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