Home ownership is in the Kiwi DNA. It may be harder than it used to be, yet every year thousands of Kiwis just like you buy their first home.
Don’t worry if you don’t know where to start. The process of climbing onto the property ladder for the first time can be broken down into simple steps. The more you know, the smoother the process will be.
HOW MUCH CAN YOU BORROW?
First you’ll need to get your deposit together. Usually that’s 20 percent of the home’s value and the bank lends you 80 percent. Sometimes, however, you may only need a 10 percent deposit. It pays to talk to TSB to discuss your situation.
To work out how much you have as a deposit, find out how much you can withdraw from your KiwiSaver, and add this to your other savings and any monetary gifts from family. It’s not unusual for parents to act as a guarantor for a portion of your borrowing.
When working out how much you can borrow, TSB will consider your income and your borrowing history. It’s all about ensuring you can comfortably make the repayments, which is in everyone’s best interest.
WHAT GOVERNMENT SUPPORT IS AVAILABLE?
Denne historien er fra August 2019-utgaven av Your Home and Garden.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 2019-utgaven av Your Home and Garden.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
GET MERRY
Everyone will go crackers about these festive dinner favourites and the delicious trimmings
A brief history of...The Lips sofa
How to straighten up and free yourself from negative behaviour patterns
BREAKING BAD HABITS
How to straighten up and free yourself from negative behaviour patterns
MOMENTS of JOY
Sue Pat's whimsical stationery cleverly captures the wonders of Christmas
GIFTS of the EARTH
An excerpt from garden and interior designer Michael Mansvelt's longawaited book Everyday Opulence
All WHITE NOW
A fresh, coastal take on the classic white Christmas starts with a backdrop of relaxed vintage style. On top, layer shades of white from rich cream to crisp snow, offset by foraged shells and coastal flora also spray painted in white, then worked into wreaths and other essential festive decor elements.
COASTAL CHRISTMAS
A writer is all about enjoying a cruisy, coastal celebration with family and friends
Happy place
A shed on the garden's edge became healing renovation project
ALL IS BRIGHT
Colour is key in Kip&Co co-founder Alex McCabe's vibrant home over the holidays
BOLD & ECLECTIC
In an excerpt from The Makers, writer Pandora Sykes' home is a cosy and chic statement in fearlessness with colour and patterns