Buyers resources
Buying your first home
Your first home is a big step - and a little planning makes all the difference. Here's your playbook: the deposit, the support that's out there, and exactly what to expect along the way.
Getting started
Getting your deposit together.
The deposit is the biggest early hurdle - but there's more help available than most first-home buyers realise. Here are the three that matter most.
Put your KiwiSaver to work
If you've been contributing for at least three years, you can usually withdraw most of your balance towards a first home - you just need to leave a minimum of $1,000 in your account. Confirm the details with your provider.
The First Home Loan
Backed by Kāinga Ora and offered through selected banks, the First Home Loan can let eligible buyers purchase with as little as a 5% deposit. Income caps and criteria apply - check the current thresholds at kaingaora.govt.nz.
The brand-new advantage
Brand-new homes usually sit outside the low-deposit lending limits that apply to existing houses - so some first-home buyers can get in with less saved than they'd expect.
A note on the First Home Grant: it closed to new applications in 2024. KiwiSaver withdrawals and the First Home Loan are now the main forms of government support - your mortgage adviser can point you to what you qualify for.
Your journey
Where are you up to?
Beyond the price
Costs to plan for.
The purchase price is the headline, but a few extras are worth budgeting for so there are no surprises along the way.
Legal & conveyancing
Your lawyer handles the contract, title and settlement - budget for their fee early.
Insurance
Most lenders require house insurance from settlement; contents cover is well worth arranging too.
Council rates
Ongoing rates are payable to your local council - factor them into your weekly costs.
Body corporate levies
If your home is a unit title, a regular levy covers shared maintenance and insurance.
Moving & setting up
Set aside a little for movers, connections and those first-week essentials.
Why buy new
A brand-new home is a brilliant first home.
A smaller deposit may be possible
New builds sit outside the usual low-deposit limits, so you may get in with less saved.
Nothing to renovate
Everything is brand new - no renovation budget and no surprise repairs to plan for.
Warm, dry and cheaper to run
Modern insulation, glazing and heating make for a healthier, more affordable home.
Peace of mind built in
A brand-new home is built to the Building Code and completed with its Code Compliance Certificate - quality you can count on.
Common questions
First-home questions, answered.
How much deposit do I really need?+
Lenders often look for around 20%, but it can be far less. Many banks will lend on a brand-new home with a smaller deposit, and the First Home Loan can go as low as 5% for eligible buyers. A mortgage adviser can tell you exactly where you stand.
Can I use my KiwiSaver?+
Usually yes - after three years of contributions you can withdraw most of your balance for a first home, leaving a minimum of $1,000. Confirm your eligibility with your KiwiSaver provider.
Is buying a new build harder than an existing home?+
It's often simpler. The home is complete and move-in ready, there's no building report to chase, and it's brand new throughout. We'll guide you through each step.
What's included in a Westcott home?+
Our homes arrive complete and move-in ready, finished to the standard we're known for. Ask our team for the full specification of any home you're interested in.
Keep exploring
More buyer guides.
Talk to our team
Let's find your first home.
Tell us what you're looking for and where you're up to - our team will help with the numbers, the options and the next step. No pressure.
Auckland, New Zealand