Feature article
Where will your deposit come from?
Your deposit does NOT have to all come from one place.
AI summary
Building a home deposit can come from multiple sources, and options like 5-10% deposits make homeownership more accessible than you might think.
Key strategies include:
- KiwiSaver: A primary source for most first-home buyers.
- Savings: Grown through term deposits or longer-term investments.
- Bank of Mum and Dad: Help via a gift or a formal loan (DOAD).
- Other methods: Selling assets or increasing your income.
Combining these can significantly accelerate reaching your deposit goal.
“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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