Solution Street Can Help You with the Government's Building Programmes

Solution Street help their clients by taking advantage of every government programme available to them, so that they can enjoy the best new home their money can buy, priding themselves on building some of the most accessible new homes in Auckland. 

As they explain, you don’t have to rely solely on your savings to meet your deposit goal. As a first home buyer, you have the following government programmes to help you put down a deposit on your dream home, starting with First Home Grant. 

The First Home Grant is available to first home buyers who have been making regular contributions to their KiwiSaver for a minimum of three years. The government grant allows you to receive $1,000 toward your deposit for an existing home for every full year you’ve contributed to your KiwiSaver, up to a maximum of $5,000. However, you can receive more from the grant if you opt to buy a new build; the First Home Grant will pay $2,000 toward a new build deposit for every year of your KiwiSaver, up to a maximum of $10,000. What’s more, if you’re a couple, you can each apply for a First Home Grant, receiving a maximum of $20,000 to put toward your new build first home. 

Secondly, they can help you with the First Home Loan, which is available through select New Zealand banks. This is paid to applicants in the market for their first home with enough money for a 5% deposit on a house that costs less than the designated price cap for that region. You can qualify for the NZ First Home Loan if your annual income before tax is less than $85,000, or $130,000 for couples. The lending bank will also examine your credit history and other financial factors to determine your fitness for the loan. 

In addition to grants and loans, you can also supplement your deposit savings with your own KiwiSaver contributions. As with the First Home Grant, you will need to have been contributing to your KiwiSaver fund for a minimum of three years. Additionally, you must leave at least $1,000 in your KiwiSaver account. 

Solution Street have developed freehold Auckland homes with first home buyers in mind, so contact Solution Street today to start your journey towards your dream home. With this in mind, please take a moment to find out more about first time buyer’s help and buying a house with Kiwisaver by visiting the website at https://www.solutionstreet.co.nz .