Information and services to assist you in buying or renting a home. If you need further assitance finding a home or looking at options to rent or buy, Housing New Zealand can point you to help in your local area.
Buying a home
There are services available to assist you save for a deposit and buy your first home, they include:
Welcome home loan
A scheme to help those eligible buy their first home with no or little deposit. www.welcomehomeloan.co.nz
Gateway Housing Assistance
Gateway enables first home buyers, or community housing organisations, to defer paying for Crown and Housing New Zealand Corporation land for up to 10 years. First home buyers, or community housing organisations, only need to borrow funds to construct or buy their home.
This ten year period allows people on lower incomes to concentrate on designing and building, or buying, their homes before they assume the additional burden of paying for the land.
Welcome Home First Steps is a FREE home ownership education course outlining everything you need to know about buying your first home.
The course will help you understand the home buying process by providing important information about home ownership, including:
* explaining the benefits, risks, costs and obligations of owning a home * telling you how to buy or build a house * giving you some tools and advice to help you plan for and achieve your home ownership goals.
Welcome Home First Steps is available online and in the following main centres – Auckland, Wellington and Christchurch.
KiwiSaver has two features to help you save for a deposit and buy your first home or land to build on. The KiwiSaver First Home Deposit Subsidy, and the KiwiSaver First Home Withdrawal. These will be available after 1 July 2010.
The KiwiSaver home ownership products are designed for first home buyers. However if you have previously owned a home or land, but no longer have a share in a property, you may still be eligible for the deposit subsidy and savings withdrawal.
Savings Withdrawal
After three years membership of a KiwiSaver scheme, or complying scheme you may be able to withdraw all, or part, of your savings (but not the government contributions) to put towards buying your first home. More about the First Home Withdrawal.
Deposit Subsidy
You can apply for the first home deposit subsidy if you have belonged and contributed to a KiwiSaver scheme, complying scheme or exempt employer scheme for at least three years. More about the Deposit Subsidy.
Sale of state houses
The Government through Housing New Zealand is offering state house tenants the opportunity to buy their homes. Read more on the Housing New Zealand website.
If you need advice contact Housing New Zealand who can direct you to advisors in your local area.
The Sorted website can also assist you in managing your mortgage.
Manage your repayments
The Sorted website can assist you to review, restructure and manage your mortgage.
If you are having difficulty meeting your repayments, contact your bank, preferably before you get behind in repayments. Most will provide options to assist you. These might include ‘freezing’ repayments (but not interest!) for a period of time or extending the term of your loan to reduce the amount you repay in each instalment.
Also ensure your interest rates are competitive – check the rates against other banks and loan providers. The Sorted website or a mortgage broker may be able to assist.
Government Assistance
The Accommodation Supplement from Work and Income can help with the costs of your mortgage and other essential housing costs. Assistance can range from a few dollars up to $225 a week depending on your circumstances.
Renting a home
Getting started
The Department of Building and Housing has information available to guide you through renting a home in New Zealand at www.dbh.govt.nz/tenants-getting-started.
Advice and problem solving
Having trouble? The Department of Building and Housing provides an advisory service for tenants, call 0800 TENANCY (0800 83 62 62).
The Tenancy Tribunal is a special Court for making decisions about problems that landlords and tenants have been unable to settle themselves.
Help paying your rent
The Accommodation Supplement from Work and Income can help with the costs of your rent, board and other essential housing costs. Assistance can range from a few dollars up to $225 a week depending on your circumstances.
Whether you can get the Accommodation Supplement depends on how much rent or board you pay, your personal circumstances such as your income and cash assets, where you live, and the number of people in the household.
