The First Home Buyers Club

We’ve broken down the first home buying steps to help make the process feel a little less overwhelming.

First up: Deposit Options 🏡

For many first home buyers, the deposit is the part that feels like the biggest hurdle. But your deposit does not always need to come from savings alone.

Depending on your situation, your deposit could include:

🥝 KiwiSaver first home withdrawal
🏦 Personal savings
👨‍👩‍👧 Family gifting or support
🏡 Family equity support
🔑 Low deposit lending options
🏘️ New build deposit pathways

And while a 20% deposit can give you more options, it is not always the only way to buy your first home.

The important thing is understanding what banks may accept, what counts as genuine savings, how KiwiSaver can be used, and what risks can come with buying with a smaller deposit.

We’ve put together a guide to help first home buyers understand the different deposit options available in NZ, read all about first home deposit options at the link below in the comments.

🏠 Do you really need a 20% deposit to buy your first home?

Not always.

A recent Stuff article highlighted that nearly half of first home buyers are now purchasing with less than a 20% deposit — the highest level on record.

That is an important reminder that the 20% deposit milestone is not the only pathway into home ownership.

For some buyers, low-deposit lending can be a genuine way to get into the market sooner.

But it is important to understand the trade-offs.

Buying with a low deposit can mean:

• Stricter bank approval criteria
• Higher repayments
• Low equity margins or premiums added to your interest rate
• Less financial buffer if property values fall
• Greater pressure if your income or expenses change

So while a 20% deposit is not always required, that does not mean every buyer should rush in with a smaller deposit.

The key question is not just “Can I get approved?”

It is also: “Can I comfortably afford the loan, manage the risks, and still have a plan after settlement?”

For some first home buyers, waiting longer and building a stronger deposit may be the right move. For others, buying sooner with the right structure and advice may make sense.

You can read the Stuff article here: https://www.stuff.co.nz/home-property/360984702/nearly-half-all-first-home-buyers-are-skipping-20-deposit-milestone-highest-record

And if you are unsure where you stand, take our free Home Readiness Quiz and get a clearer idea of your next step. 👉 http://www.thefirsthomebuyersclub.co.nz/hrq

Nearly half of all first home buyers are skipping the 20% deposit milestone, highest on record The number of first-home buyers jumping into the property market without a 20% deposit has hit its highest level since records began, more than doubling over the past decade.

The Reserve Bank held the OCR at 2.25% this week, but the bigger message for first home buyers is what came next.

They indicated the OCR is likely to increase this year, largely because inflation is expected to remain above target.

So what does that actually mean if you’re planning to buy your first home?

It means interest rates may not stay where they are. But it also means now is a good time to understand what actually influences mortgage rates — because it’s not just the OCR.

Mortgage rates are shaped by inflation, wholesale interest rates, bank funding costs, competition between lenders, your deposit size, and how your home loan is structured.

For first home buyers, the key isn’t trying to perfectly predict where rates will go next. It’s understanding what you can afford, how your repayments could change, and what loan structure gives you the right balance of flexibility and certainty.

We’ve broken it down in plain English at the link in the comments.

🏡 : One Nikau, Woburn

Looking for a new build first home in Wellington?

One Nikau by Faisandier offers boutique 2 and 3 bedroom townhouses in sought-after Woburn, with homes ready now and priced from $709,000.

Set on a quiet street surrounded by native bush, these homes include high-spec features such as engineered stone benchtops, tiled bathrooms, underfloor heating in the bathrooms, and off-street carparking options.

For first home buyers, this could be worth exploring if you’re looking for:

🏠 A low-maintenance new build
📍 A well-connected Lower Hutt location
🛏️ 2 and 3 bedroom options
🚗 Off-street carparking options
🌿 A quieter setting surrounded by native bush
🔑 Fee simple titles

Buying a new build can also come with some important differences compared with buying an existing home, especially around deposits, settlement timing, lending approval and contract conditions. So it’s worth getting advice early to understand whether a property like this fits your first home buying plan.

Take a look at the link in the comments to see more of One Nikau.

🏡 If you're serious about buying your first home in NZ, pre-approval might just be the most important step you take before you even start browsing open homes.

A lot of first home buyers put off getting pre-approved because it feels daunting. 😟 Like it's "too official", or they're not quite ready. But here's the thing: pre-approval doesn't lock you in. It actually frees you up. You'll know your budget, you'll feel confident at open homes, and when the right property comes along, you can move quickly without scrambling.

Without it, you risk falling in love with a home you can't afford - or missing out entirely because another buyer was prepared and you weren't. 💛

The process involves a lender assessing your income, expenses, debts, and deposit to give you a conditional green light on borrowing. It's not as scary as it sounds, and knowing what to expect makes it so much easier.

Our guide covers everything you need to know about home loan pre-approval in NZ — what it is, how to get it, how long it lasts, and what happens next. 🔍

Read the full guide in the comments below👇

We'd love to hear from you — did getting pre-approved change how you approached your home search? Or are you still figuring out where to start? Tell us below!

🏡 Searching for your first home is one of the most exciting (and overwhelming!) things you'll ever do. Knowing what to actually look for can make all the difference.

Beyond the fresh paint and tidy gardens, there's so much more to assess when you're walking through a property. Things like the quality of the foundations, the age of the roof, the sun orientation, and whether that "cosy" open plan really works for your lifestyle.

As first home buyers, it's easy to fall in love with a place emotionally before your head has had a chance to catch up. That's completely normal, but going in with a checklist and a clear idea of your non-negotiables can save you from costly surprises down the track. 💛

Our guide breaks down exactly what to look for when house hunting in NZ. From the big-ticket structural stuff to the little details that reveal a lot about how well a home has been looked after.

Read the guide at the link below in the comments.

Whether you're just starting to browse Trade Me or you've already been to a dozen open homes, this one's for you. 🔍

We'd love to know — what's the ONE thing you're prioritising most in your first home search? Drop it in the comments below! 👇

How do you actually know when you're ready to buy your first home? 🏡

For most people, it's a mix of "I think my savings are okay?" and "KiwiSaver is a thing I have" and a vague sense that maybe, possibly, the timing could be right. Sound familiar?

We built the Home Readiness Quiz because that uncertainty is genuinely one of the biggest things holding first home buyers back. Just not knowing where you actually stand.

Take the quiz here 👉️ www.thefirsthomebuyersclub.co.nz/hrq

It takes a few minutes, covers the stuff that really matters — savings, KiwiSaver, borrowing power, financial foundations — and gives you something useful at the end - a clearer picture of where you're at and what to work on next.

No judgment, no jargon, no pressure. Just honest insights that help you take the next step with a bit more confidence.

So tell us, what's the one thing that feels most uncertain for you right now on the journey to your first home?

Getting pre-approved for a home loan is a really useful step when you’re buying your first home 🏡

It gives you a clearer idea of what you may be able to borrow, helps you understand your budget, and can put you in a stronger position when you’re ready to make an offer.

But we also know pre-approval can feel a bit overwhelming at the start.

📝 What paperwork do you need?
💯 Will it affect your credit score?
⏱️ How long does it last?
🏦 And what are banks actually looking for?

We’ve put together a simple guide to home loan pre-approval in NZ to help answer those questions and make the process feel a bit more manageable. View the guide at the link in the comments.

It covers what to expect, how to prepare, and why getting advice early can make a big difference.

Pre-approval doesn’t mean you have to buy straight away — it simply helps you understand where you stand 🔑

Are you already pre-approved, or is it still on your to-do list? Let us know where you’re at in your first-home journey 👇

The majority of first home buyers are likely to use their KiwiSaver as either the bulk if not all, of their first home deposit 🏠

But it is not always as simple as checking the balance in your app and assuming that money is ready to go.

Before you start making serious offers, it helps to confirm:

✅ How much you may be able to withdraw
✅ Whether you are eligible
✅ Whether your KiwiSaver will be used for the upfront deposit or at settlement
✅ How long your provider needs to process the withdrawal
✅ Why a KiwiSaver eligibility letter can be so useful for pre-approval

In most cases, you formally apply to withdraw your KiwiSaver once you have a signed sale and purchase agreement. But the planning should start well before then.

A little preparation can save a lot of stress when you find the right home.

Read the full guide here:
https://www.thefirsthomebuyersclub.co.nz/blog/when-to-withdraw-kiwisaver-first-home

When Should You Withdraw Your KiwiSaver for Your First Home? Your KiwiSaver can be one of the most powerful tools available when buying your first home in New Zealand, but timing matters. Withdraw it too early in your planning and you may overestimate what you can offer. Leave it too late and you could create unnecessary stress before settlement. This guide e...

🏡 First home buyers are still leading the NZ property market

The latest Cotality-Westpac First Home Buyer Report shows first home buyers made up 27.5% of all property sales in the first quarter of 2026 — just below the record high set at the end of last year.

Over the past 12 months, first home buyers purchased around 24,800 properties, the highest annual total since 2021. Interestingly, nearly 77% of first home buyer purchases were standalone houses, showing many buyers are securing more than just “entry-level” options.

The key takeaway?

A quieter housing market, lower mortgage costs, KiwiSaver access and more low-deposit lending options have helped create better conditions for prepared first home buyers.

But there’s a warning too: mortgage rates may be starting to move up again, with economists expecting the Reserve Bank could begin increasing the OCR later this year. That means your loan structure, affordability and timing matter more than ever.

If buying your first home is on your radar, now is a good time to understand where you stand.

Take our free Home Readiness Quiz on our website and get a clearer picture of your next step.

👉 Link to the full article below in the comments