Kiwibuild homes & eligibility for first-time buyers

Do you think you are eligible for a KiwiBuild home? Are you looking to buy your first home but are currently unable to and think KiwiBuild is the solution?

To be eligible for the KiwiBuild programme you will need to:

  • Be at least 18 years of age.
  • Be a first-time home buyer, or be in the same financial situation as a first-time buyer.
  • Not currently own a home in NZ or Overseas.
  • Be a citizen or permanent resident of New Zealand, or be a resident visa holder and be resident in the country.
  • Earn no more than $120 000 a year if you are buying on your own, or earn no more than $180 000 a year if there is more than one buyer involved.
  • If you are self employed your income will be assessed on the most recent IRD tax year.
  • You will also need to commit to living in your Kiwibuild home for a minimum period of time;
    • at least one year for a studio or one bedroom home or
    • at least 3 years for a home with two bedrooms or larger.

If you previously owned your own home but don’t any longer and find yourself in the same financial position as a first home buyer, you could be considered a ‘second chancer’ if you meet the asset test requirements used for the KiwiSaver HomeStart grant. Contact the team at First Rate Mortgages on 0800 178 726 for more information on KiwiBuild homes and eligibility.

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