7 Best First Home Buyer Schemes in New Zealand




There’s no content to show here yet.

Buying your first home is an exhilarating but often challenging process. In New Zealand, the dream of home ownership is made achievable through various government and private schemes. These programs offer support to first-time buyers, helping them to navigate the complex world of property purchasing. Here, we’ll explore the 7 best first home buyer schemes in New Zealand, each providing unique opportunities and benefits.

1. Welcome Home Loan Scheme

This government-backed scheme enables first-time home buyers to purchase a property with only a 5% deposit. The Welcome Home Loan Scheme is aimed at individuals and families with low to moderate incomes, providing them a leg up into the property market. Lenders are secured by a government guarantee, making this option more accessible to those who meet the eligibility criteria.

2. First Home Grant

Offered by Kāinga Ora, the First Home Grant provides eligible buyers with financial assistance towards a deposit on their first home. Depending on the price of the house and the buyer’s circumstances, grants can range from $3,000 to $10,000. This scheme is available to those purchasing a new build or existing property and serves to bridge the initial financial gap.

3. KiwiSaver HomeStart Grant

A part of the KiwiSaver scheme, the HomeStart Grant offers additional support for individuals who have been contributing to their KiwiSaver for at least three years. This grant, which can be up to $5,000 for an existing home or $10,000 for a new build, is an invaluable resource for those looking to make that first step onto the property ladder.

4. First Home Loan and Grant Combined

For those who qualify for both the Welcome Home Loan Scheme and the First Home Grant, combining these benefits can lead to a substantial reduction in the initial costs of buying a home. By accessing both the loan guarantee and the grant, first-time buyers can get closer to their property goals without as much financial stress.

5. KiwiBuild

KiwiBuild aims to increase the supply of affordable homes in New Zealand, making it easier for first-time buyers to find a suitable property. By providing newly built, quality homes at controlled prices, this initiative aids in leveling the playing field in the competitive housing market.

6. Community Ownership Schemes

Across New Zealand, there are community trusts and other local initiatives that enable shared ownership of properties. These schemes often target those who might otherwise be priced out of the traditional property market. By participating in a community ownership scheme, individuals can own a share of a property, reducing the financial burden.

7. Private Lender Incentives

In addition to government initiatives, some banks and private lenders offer unique incentives for first-time buyers, such as discounted interest rates or reduced fees. These incentives can make the financing process more affordable and accessible. It’s wise to consult with a trusted financial advisor or real estate expert to explore the best options.


New Zealand offers an impressive array of first home buyer schemes, each designed to make the journey to home ownership more attainable. By understanding these various options, first-time buyers can align themselves with the programs best suited to their individual needs and financial circumstances.

Remember, every scheme has specific criteria and terms, so consulting with a real estate professional, such as Chip Sutton Real Estate, can guide you in the right direction. We specialize in supporting first-time homebuyers in New Zealand, offering expert advice, insight, and personalized service to make your dream of home ownership a reality.

Explore these options, and don’t hesitate to reach out to us for guidance on your property journey. Your first home awaits!