Feature article
Where will your deposit come from?
Your deposit does NOT have to all come from one place.
AI summary
Building your first home deposit can come from multiple sources, making home ownership more achievable than you think.
Most Kiwis use their KiwiSaver, which can be withdrawn after three years of contributions. Other key sources include:
- Personal savings, grown through term deposits or investments
- Help from the "Bank of Mum and Dad" as a gift or loan
- Creative methods like selling items or negotiating a pay rise
Remember that low-deposit options and government schemes are also available to help you get on the property ladder.
“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
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