First Home Buyers

Buying your first home is one of the most exciting and daunting times of your life.

At Eightfold we want to ensure that you can focus on the excitement of your new home while we take care of negotiating the best deal for financing your new home both now and into the future.

Can I buy without a 20% deposit?

While there has been a lot of publicity about the need for home buyers to have a 20% deposit; there are still options available for you. We can talk you through what may be available to you including:

  • the ability to access low equity loans
  • using your Kiwisaver contributions towards your deposit
  • building your own home
  • accessing parental assistance to increase your deposit.


What if I want to buy an apartment as my first home?

With house prices, particularly in Auckland, spiralling upwards, an apartment purchase as a first property may be the best (and sometimes the only) option for first home buyers.

Banks have different lending criteria for apartments compared with standard residential housing so it’s important to understand what you can borrow against a particular property.

Eightfold can help you work through your options and make sure you are matched with the lender that will best fund the apartment of your dreams.

Other considerations for first home buyers

As a first home buyer, you will also need to consider:

  • what type of home loan is best for you
  • the fees and charges associated with purchasing a property
  • undertaking a thorough research of the property market
  • finding a good accountant, financial planner and solicitor.

At Eightfold we’re here to help and can provide you with free independent assistance to guide you through the process.

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