Feature article
Where will your deposit come from?
Your deposit does NOT have to all come from one place.
AI summary
Sourcing a deposit for your first home is achievable by combining funds from various places. Don't be discouraged by high prices, as 5-10% deposit options and government schemes are available.
Key sources include:
- KiwiSaver: A primary option for most, usable after three years of contributions.
- Savings: Boosted through term deposits, investments, or negotiating a pay rise.
- "Bank of mum and dad": A common source of help via a gift or loan.
Creative side hustles can also supplement your deposit.
“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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