I’d heard house-hunting could be hard, especially if you’re looking in the city. We had to look outside the city because we knew that was unrealistic. We fully expected to spend every weekend at open homes and make 20 offers before we got somewhere! So yeah, we got super lucky with the first offer we made!
About 2 years ago, we were thinking that we should be purchasing a house, so I put my KiwiSaver contributions to the highest it could be because I knew that was coming up. And then lived like a student for a little while to make my savings look nice and healthy!
Yes, it topped our deposit up that bit more and gave us more options, especially to start looking and to buy in the area we wanted.
It was a lot easier for me than my partner! It was pretty much instantaneous for me and it took about two weeks for hers. Mine was very easy and I was really pleased with that. The main thing was the First Home letter that you get prior to withdrawing your KiwiSaver money. That piece of paperwork was available online straight away for me, but my partner had to request it from her bank and that took some time.
I’ve been saving strongly for about 2-3 years so I’m kind of in the habit. It was easy enough to get straight back into it.
If you can, jump onto the highest contribution amount you can for a few years, or as soon as you start thinking about first home purchase. It’s a great way to get you to a comfortable amount for a deposit to really top up your offer.