Home Start Grant

The HomeStart Grant is a government scheme in New Zealand designed to assist first-home buyers with the purchase of their first home. The grant is intended to help first-home buyers build their deposit, making it easier for them to secure a mortgage and purchase a home. To be eligible for the HomeStart Grant, applicants must meet certain criteria, including having a minimum income and contributing regularly to a KiwiSaver account for at least three years.

The HomeStart Grant provides eligible first-home buyers with a grant of up to $10,000 for individuals and up to $20,000 for couples, towards the purchase of an existing home or a new build. The amount of the grant is determined by various factors, including the length of time the applicant has been contributing to their KiwiSaver account and the location of the property being purchased. To apply for the HomeStart Grant, applicants must meet certain criteria, such as having a maximum income and having a deposit of at least 5% of the purchase price of the property. The grant can be used in conjunction with other government schemes, such as KiwiSaver withdrawals, to further assist first-home buyers in their journey towards home ownership.

Applying for the HomeStart Grant in New Zealand involves several steps. The first step is to check if you are eligible for the grant. This can be done by visiting the official website of the New Zealand Government or contacting the Housing New Zealand Corporation. You must be a New Zealand citizen or permanent resident, have contributed to a KiwiSaver account for at least three years, and meet certain income and asset limits to be eligible for the grant. Once you have confirmed that you are eligible, you can begin the application process.

To apply for the HomeStart Grant, you will need to complete an application form and provide supporting documentation, such as proof of income and proof of KiwiSaver contributions. The application form can be downloaded from the official website of the New Zealand Government or obtained from Housing New Zealand Corporation. Once you have completed the application form and gathered all the necessary supporting documentation, you can submit your application to Housing New Zealand Corporation. Your application will be reviewed, and you will be notified of the outcome. If your application is approved, the HomeStart Grant will be paid to your solicitor or conveyancer, who will then use the funds towards your deposit for the purchase of your first home.