Homestart grant eligibility rundown

One of the amazing things that the government has set up to help first home buyers is the HomeStart Grant, but it’s important to make sure that you are eligible.

Here are a few of the criteria required for this grant. If you meet these, then give me a call and I can assist with your application.

There is a maximum income cap in place and this is $85,000 per year for a single purchaser or $130,000 combined yearly household income for more than two parties. The purchase price for the home must be equal to or less than $600,000 for an existing property or $650,000 for a new build. These purchase price criteria remain the same no matter whether the home is purchased by one or more people.  These caps are relevant to the Auckland market, and do change from region to region around New Zealand.

If you are purchasing an existing home, you will receive $1,000  per year that you have been contributing into KiwiSaver, up to a maximum of  $5,000. If you are purchasing or building a new home, you will receive $2,000 for every year you have been contributing into KiwiSaver, with a maximum of $10,000.

If you fit all of the criteria for the HomeStart Grant, and you think you have enough of a deposit to purchase your first home, then I’d love to hear from you. Call me on 021 662 205 or email ryan.amoore@loanmarket.co.nz