Announcement: Government Have Scrapped the New Zealand Home Owners Grant
Today, the government announced the scrapping of the New Zealand Home Owner Grant. This news is understandably disappointing for many aspiring homeowners who were counting on this support to make their dream of owning a home a reality.
As someone who is passionate about helping people achieve homeownership, I want to acknowledge the frustration and concern this decision might cause. However, it's important to remember that while this grant was a valuable tool, it was just one of many paths to homeownership.
All is not lost! There are many alternative ways for people to achieve their goal of getting into their first home! See just a few below:
KiwiSaver First-Home Withdrawal:Leverage your KiwiSaver savings to make a significant dent in your deposit. Many have successfully used this to purchase their first home.
First Home Loan: Provided by select lenders and underwritten by Kāinga Ora, this option requires a lower deposit than traditional loans, making homeownership more accessible.
Family Assistance: Consider a family gifting arrangement or shared ownership to help boost your deposit and secure a mortgage.
Budgeting and Savings Plans:Implementing a strict savings plan and seeking financial advice can significantly speed up your journey to saving for a deposit.
Research Government and Community Programs: There are various local and national programs aimed at assisting first-time buyers. Keep an eye out for new initiatives and subsidies.
Come and chat with one of our team: At Du Val we have a dedicated team ready to chat things through with you and connect you with the right professionals to get the job done.
While the removal of the Home Owner Grant is a setback, it's important to stay informed and explore all available options. Homeownership is still within reach with the right planning and resources.
Chat with us to navigate these changes together and continue working towards your homeownership goals.
For further details, please visit the full article on MSN here.
