Housing minister Phil Twyford, announced eligibility criteria to buy a KiwiBuild Home
To be eligible under this scheme, you must:
- be a First Home Buyer or similar to a first home buyer who no longer owns a home and meets the asset test criteria under KiwiSaver HomeStart Grant
- be a New Zealand Citizen or Permanent Resident
- have a household income of no more than $120,000 as a single buyer, and no more than $180,000 for more than one buyer
- intend to live in the home as your principal place of residence for a minimum of 3 years
KiwiBuild houses in Auckland and Queenstown will have a maximum price limit as under:
- $650,000 for a 3 bedroom home;
- $600,000 for a 2 bedroom home; and
- $500,000 for one bedroom
Across the rest of the country, the maximum price will be set at $500,000.
The KiwiBuild policy aims to construct 100,000 affordable homes over the next 10 years. The government is beginning with a target of 1000 homes over the next year and another 9000 by 2021.
You will need to register your interest because there will a ballot system. The prospective buyers whose names are drawn will get the first opportunity to buy the home. You can click KiwiBuild to access the full scheme on the MBIE website.
If you are a First Home Buyer and are looking for a mortgage or a pre-approval, please get in touch with us.
Finance Matters – Your guardian to your Dream Home
You Dream | We Plan | You Achieve
Call us on 0800 700 600