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Have you ever been told that something can’t be done? Being told that something can’t happen can be disheartening. But we’ve all looked the impossible in the face at some stage in our lives and decided to push on regardless. With a good plan, it’s amazing what you can achieve.

Why shouldn’t that also be true of home ownership? It’s easy to come up with a list of reasons why it’s hard. Where others say it can’t be done, we like to think it’s more a matter of attitude, getting some smart guidance and putting in the work. Let’s take a look at some of the barriers to home ownership and how they can be overcome.

The deposit challenge

As you'll know, if you want to buy a house you’re going to need a deposit. A 20% deposit is standard, and it can feel like a huge amount to save. But there are options so it's important not to be put off before you even start. Have a conversation with one of our Lending Specialists. They can help you build a plan, work out how much you need to save and whether you qualify for a deposit of less than 20%.

Also, if you contribute to KiwiSaver then there may be an opportunity to boost your deposit with a HomeStart Grant. Or perhaps you’re eligible to make a withdrawal from your KiwiSaver funds. Either way, we’ve got lots of ideas that could help you to get your purchase across the line.

The high house price barrier

The housing market as it is, you’re going to face a high house price: in key locations; where demand is high and available housing is low; or where outside investment is pushing up prices. It’s just a fact.

One solution of course is finding a compromise – which no doubt won’t be news to you. Think smaller, further away, a bit of a do-up. Your first home doesn’t need to be your last: it just needs to get you into the market.

My credit history isn’t perfect

House prices are high, you’ve got to save a deposit, and to top it off you’ve got a credit record that doesn’t tick all the boxes? This trio can make getting the keys to your first home seem a daunting task.

The good news is that our Lending Specialists are expert at understanding the ‘context’. We want to be able to help committed Kiwis into their first home, so we take the time to listen, understand and hopefully find a solution.

Grab a copy of your credit record and bring it to us. Our Lending Specialists can help you work out what you need to do to show you’re ready for a home loan.

Ready to take the first step to home ownership?

Don’t waste your time listening to people who tell you it can’t be done. With the right attitude and hard work, it's amazing what can be achieved. Get in touch with our Lending Specialists today to take the first step towards home ownership.

  • Use a calculator to get an estimate of how much you can borrow.
    Try one here

  • See if you qualify. To get a more accurate idea of how much you can borrow with RESIMAC Direct,
    click here

  • Call our Lending Specialists and they can do the calculation for you over the phone plus answer any questions you have at the time. Talk to us on 0800 466 656