Updated: Oct 11, 2019

Struggling to save that 20% home deposit? Auckland house prices continue to be out of reach for many first home buyers. It can be frustrating to continue to scrimp and save, only to feel as though the goalposts keep being moved from under you. But even though things are tough, we’re still able to help many kiwis secure that all-important finance. Here are some ways Yellow Rooster clients are working to get their first homes:

Combine resources with friends/family: Could you go in together with friends, cousins, or family members to purchase a property? Combining the deposits of three or more people can help you make up the deposit you need to get on the property ladder.

Don’t forget about Kiwisaver: You can now withdraw your entire Kiwisaver balance – except the initial $1000 kickstart – to put toward your first home.

Homestart Grant: We can check if you’re eligible for this government grant of between $3000-10000. Each individual on the loan could be eligible, depending on how many years they’ve been in Kiwisaver.

Consider different house types: If a three bedroom home in your desired suburb is out of your price range, could you consider an apartment instead? What about a home + income?

Go new: Have you thought about a new build – in some cases, you can get a brand new home for a great price. New builds are exempt from LVR restrictions and qualify for higher Homestart Grants.

Look outside the main centers: You may not be able to afford a home in your ideal suburb, but could you consider moving to one of the provinces, or looking further out of the central city?

10% loans: Depending on your circumstances, you could be eligible for a loan with a 10% deposit. We can investigate this for you and find the right lender for your circumstances.

Guarantee: A family member may be able to guarantee a portion of your deposit. Speak to us about this option as there are many important things to consider.

If you’ve saved some money and you’re desperate to get into your first home, come and talk to the Yellow Rooster team. We’ll be able to help you put a savings plan in place and show you how to get to your goal sooner.

Rates sourced from Accurate as of 12th July 2018.


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Sandeep Khurana

Rajat Khurana

Mortgage Advisers 

Registered Financial Advisers


Mobile: 021 831 968 /  021 497 981



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