Eligibility and property price restrictions for the New Zealand Government's first-time home purchase allowance

In order to enable New Zealanders to own their own homes, the New Zealand Government has introduced a "first-time home purchase subsidy policy" in previous years, including Auckland, Wellington, Tauranga, Hamilton, Christchurch and other major Cities in New Zealand, first-time buyers of self-housing, if they meet certain qualifications, can apply to the New Zealand Government for subsidies.

To qualify for a first-time buyer's allowance, the applicant must:

Over the past 12 months, single buyers have been required to earn less than NZ$85,000 a year in pre-tax income, and partners have been required to earn less than NZ$130,000 in total
There were no properties under the name at the time of application
KiwiSaver has paid at least the lowest percentage to his pension plan for more than three years
Live in a house you plan to buy for at least six months
Buy a property that does not exceed the upper house price limit in the area where the home is purchased
In addition, the subsidy scheme limits the price of the "most expensive" property that a subsidized applicant can purchase, depending on the old and new of the property purchased by the applicant and the region in which it is located, up to the following:

Buy a second-hand home of no more than $600,000 or a new home of no more than $650,000 in Oakland or Queenstown Lake
Buy second-hand homes of no more than $500,000 or no more than $550,000 in Hamilton, Tauranga, West Lothian Bay, Capiti Coast, Porirua, Upper Hurt, Hurt, Wellington, Tasman, Nelson, Christchurch and Selvin
Buy a second-hand home in the rest of New Zealand for no more than $400,000 or no more than $450,000 for a new home
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Pay Tips 11-01-21

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