Feature article
Where will your deposit come from?
Your deposit does NOT have to all come from one place.
AI summary
Building a house deposit is achievable through various sources, with 5% and 10% deposit options often available.
Key sources include:
- KiwiSaver: A primary source for most first-home buyers, often comprising 40-50% of the deposit after three years of contributions.
- Personal Savings: Grow your funds with term deposits or consider investments like ETFs for longer-term goals.
- Bank of Mum and Dad: A common option, providing help as a gift or a formal loan (DOAD).
Creative methods like selling items or negotiating a pay rise can also significantly boost your savings.
“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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