Buying guide

Money saving tips to help you reach your home deposit goal

We all start somewhere.

Al Hall
Last updated: 18 June 2023 | 4 min read
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AI summary

Saving for a house deposit in New Zealand requires a clear plan. A typical deposit is 20% of the property's price, but this amount varies significantly by region.

Creating a detailed budget is the most crucial step. Other key strategies to accelerate your savings include:

- Increasing your KiwiSaver contributions

- Automating savings transfers on payday

- Reviewing subscriptions and utility providers

- Consolidating debts to reduce interest

These practical tips can help you reach your home ownership goal more effectively.

What you’ll learn:

How much is the average house deposit in NZ?

It's time to grow that deposit nest egg.

How to save money for a house deposit

1. Make a budget (and stick to it)

You won't get anywhere fast without a comprehensive budget.

2. Use your KiwiSaver

3. Automate your savings

4. Look at your subscriptions

5. Assess your utilities providers

6. Combine your debts

7. Control your spending

Author

Al Hall Al Hall
Content Writer