Buying your first home

Written By Kim Manunui

How do you unlock the door to your very first home?

The most exciting of all, your very first home to call your own, off the rental bandwagon and on the property ladder and … making a financial commitment to your future.

How do you do it?

You’ll need some equity, as a first home buyer there are options available with just a 5% deposit rather than the usual 20% required, with a little help from our friends at Kaingara Ora, Kiwisaver withdrawal or first home grant. The more deposit the better however as it means your monthly commitments are less and you can buy more house.

In the interests of up to date and accurate information, click on the link https://kaingaora.govt.nz/home-ownership/first-home-loan/  to take you to the Kainga Ora website which explains it in up to date detail, then give us a call and we can take it from there.

How do I get a 20% deposit?

Consider the following options:

Savings – evidencing a nice savings history and with the balance, you may be paying in rent now totaling the proposed mortgage payments will hold you in good stead.

Bank of Mum and Dad – acting as guarantor, depending on the situation and if they’re happy to have a security placed on their home usually to the amount of the deposit you don’t have. Need to be comfortable with the fact they will be responsible if you default on payments however, lending still needs to be affordable.

Gifted deposits - these are accepted however showing 5% from own savings is looked favourable upon.

Low deposit home loans – as mentioned, with a First Home Loan with a product supported by the Govt and operated through Kainga-Ora Homes and Communities, this can allow for a deposit of 5%.

Give us a call, email or complete the enquiry form to explore the possibilities.

Kim Manunui

Hi, I’m Kim and I work with a great team to help individuals, as well as small and not so small businesses get their message, product and services to the world using digital media and creating wonderful websites that don’t cost the earth.

I was born in Canada, and grew up around Vancouver and the mountains of British Columbia. My love of pristine environments led me to New Zealand and eventually to the mountains, lakes and rivers of the central North Island which is home. My family’s heritage is here, and it’s from here that Korio traverses the planet.

The digital world is never static and neither are we.

And I say ‘we’ because I work with an awesome group of talented people who I gather together as required to complete a project.  Whatever your business, not-for-profit or individual needs are we gather the best team to get the job done.

Collaboratively we are creative, share sustainable values and work hard for great outcomes because that’s the buzz of satisfaction that drives us.

If you have an audience and market to reach, we can make that happen. Creative design, words that work and smart behind the scenes stuff that cuts through the online noise. We’ll design your website and then build it. We’ll manage the content as well as all your hosting needs. We can handle your online advertising so you get noticed,
and we’ll manage your social media presence so you get the clicks, likes and engagement to grow your business. All within the budget you set, because none of this needs to cost the earth.  And the job doesn’t stop when your website goes live. We are your virtual business partner.

https://www.korio.co.nz
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