Feature article
Where will your deposit come from?
Your deposit does NOT have to all come from one place.
AI summary
Sourcing a home deposit is more achievable than you might think, as funds can come from multiple places.
Key sources for your deposit include:
- KiwiSaver withdrawals, which over 90% of first-home buyers use.
- Personal savings, grown through term deposits or investments.
- Help from the "Bank of Mum and Dad" as a gift or loan.
You can also boost your deposit by negotiating a pay rise or selling unwanted items. Always keep some funds for post-purchase costs.
“Comparison is the thief of all joy”
Where will your deposit come from?
1. KiwiSaver
2. Savings
BNZ featured term deposit rates 2024
Kernel Fund Performance as of August 2024
3. Bank of mum and dad
4. Other things
Financial Disclaimer
Author
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