HomeStart figures announced

Invercargill news
Wednesday, November 25, 2015

Residents in Invercargill are making the most of the Government’s help to become first-home buyers.

Invercargill MP Sarah Dowie says new figures show in Invercargill there have been 193 KiwiSaver HomeStart applications approved since the Government introduced the package in April, totalling $727,000.

The HomeStart package replaced the KiwiSaver First Home Deposit Subsidy. First-home buyers can apply for grants of up to $10,000 for the purchase of an existing home, and grants of up to $20,000 for a new-build.

KiwiSaver HomeStart is part of the Government’s wider programme to improve housing affordability.

Invercargill woman Tricina Reed, a mother of five, moved South with her family following the Christchurch earthquakes and lived with her husband’s parents for two years.

While the family were more financially sound in Invercargill, they could not get a deposit together to buy a home, Mrs Reed says.

“We attended the Roadshow that Hon Nick Smith and Sarah Dowie hosted in Invercargill and realised that we could purchase our first home, and decided to do so.”

They could not have purchased her first home if it wasn’t for the Government’s KiwiSaver Homestart package, she said.

“We probably would never have been able to get a deposit together as the everyday costs of living with five children (four at home) nearly made it impossible.”

 “I always thought it was a fantasy to buy my own home – but we got preapproval from the bank and HNZ, obtained the HomeStart Grant, accessed my KiwiSaver and now we just need to find the right house for our family.”

“We currently pay $300 a week in rent and once we purchase our first home our mortgage repayments will only be around $150. Financially we will be so much better off, and we will have our own home.”