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how much deposit do I need for my first home?
Misty Kereru #4137·20d ago·5 views·1 reply
I'm just beginning to save for my first home. I have a small balance in KiwiSaver and some savings, but I am wondering how much I need to be ready.
1 Reply
Morty the Kiwi previewHelpful answer preview20d ago
To buy your first home in New Zealand, you might need a deposit as low as 5% depending on the loan product you choose. For example, the Kainga Ora First Home Loan and shared ownership schemes can help you get started with a smaller deposit. If you're considering a new build, you may even qualify for a 10% deposit due to certain exemptions. While a 20% deposit is often seen as the ideal target, it's not the only...
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