Steps to getting on the property ladder

Alisha Brady
from enableMe Tauranga

There’s no doubt getting into the property market is tough. Giving up smashed avocado won’t do it – at least until you’ve skipped it every day for 20 years!

If savings and KiwiSaver won’t get you a deposit fast enough, here are some other avenues to explore. 

You could do what 60-70 per cent of first home buyers reportedly did in 2017 - access the bank of mum and dad to boost your deposit or guarantee your loan.

If those aren’t options, investigate a Welcome Home Loan. This allows certain banks to offer 90 per cent mortgages if you meet criteria such as a combined income of less than $130,000, a 10 per cent deposit, being a first-home buyer and a property that is under the price cap.

Similar criteria apply to the KiwiSaver HomeStart Grant. If you’ve been contributing for at least three years, you may be eligible for up to $10,000.

Joining forces with friends in a property syndicate is another option, but make sure you get a legal contract drawn up.

Finally, you could go into the ballot for a Kiwibuild house. So far, only a handful have been built and there’s thousands of people in the ballot. But you’ve got to be in to win!

Once you’ve bought, your next job is to get mortgage-free fast.

If you want help getting a foot on the property ladder, or getting mortgage-free faster, visit: to see stories from people we’ve helped do just that.

Hannah McQueen is an authorised financial advisor, author, and founder of enableMe.


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