THINK ABOUT WHERE YOUR DEPOSIT IS COMING FROM
Slotting money into a bank account is the usual way to save but there are other ways to pull a deposit together. You may be able to withdraw some or all your KiwiSaver savings to put towards buying your first home. Parents may also be willing to act as guarantors or “Gift”. While some may feel uncomfortable, “Gifting “is becoming a lot more common.
If Gifting is not an option, then parents / relatives can cross secure properties to utilise equity in existing properties as deposit; although this is a bit more complex than “gift”. It’s best to talk to your adviser and explain the differences.