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Starting out

Tips and tools to help you plan, budget and save for your first home.

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Set your budget

The budget. Some may call it a fun-stopper, but as tricky as it can be, it's the best way to start making some serious savings.

See where you're at

By figuring out how much you’re earning versus spending you can see realistically how much you can save for your house. You can use our Track My Spending tool to see where your money's going. If you're planning to use your KiwiSaver savings it pays to check how much is going into your KiwiSaver account.  

Build your budget

A budget gives you a plan for how you’ll split your income out across your expenses and savings. Our handy How to budget blog or the Sorted budgeting tool can help you put one together.

Save a regular amount

To help you stick to your plan you can set up an automatic payment to transfer your savings to a separate account or directly into your KiwiSaver account (if you’re eligible for a first home withdrawal) each payday.

Budget check in

When your goal is set and it's been a few weeks since you started budgeting, look at how it's going. Is it realistic? Do you need to make any minor adjustments? Once you're happy with where it's at, stick to it and watch your savings grow. 

Boost your savings with the ASB KiwiSaver Scheme

If you're starting to think about saving for your first home deposit, here's how KiwiSaver could help.

  • The government could contribute $521 each year.
    If you are over 18 and mainly live in New Zealand, you may be entitled to the $521.43 annual Government contribution as long as you're also contributing. Find out more about the annual Government contribution here.

  • Your employer may contribute too
    If you're between age 18 and 65 and making employee contributions to your KiwiSaver account, your employer may also contribute a minimum of 3% of your before-tax salary. 

  • Choosing the right fund could maximise your savings
    Choosing the right fund is an important part of achieving your savings goals. Use our simple tool that makes choosing a fund easy.

  • A sweet little thing called investment returns
    Your KiwiSaver savings can generate returns that may often be higher than a savings account, helping your savings grow to get you to your first home savings goal faster. View past returns here.

Not a member of the ASB KiwiSaver Scheme? Join in a few minutes.

You may only need a 10% deposit

To get a home loan your deposit will generally have to be 20% of the property's value – but it all depends on your individual situation. You may be able to get into your home sooner with a deposit as little as 10%.

Get in touch with us when you’re beginning to save to talk through your options.

You may be eligible for a low deposit loan

Depending on your situation, ASB may be able to lend to customers that have a deposit as little as 10% with a low equity loan.

If you're eligible for a low equity loan, there may be some extra requirements to think about, like the low equity margin, or having a family member as a guarantor.

Building instead of buying

If you can't find the right home, building one could be the way to go. If you borrow money to buy land and build a new home, then you also may not need a 20% deposit. Chat to us to figure out the best option for you.

Open the door to a KiwiBuild home

KiwiBuild is a government programme to build affordable housing for first home buyers. Check to see if you’re eligible for KiwiBuild.

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Contact us about your home loan

We can come to you

Our mobile lending managers cover much of the country.

Find a lending manager

Call us

We're here weekdays 8am - 8pm or Saturday 9:00am - 5:00pm to answer your home loan questions.

0800 100 600

Visit a branch

Visit us at one of our many branches across New Zealand.

Find a branch

Apply online

Ready to take the next step? Apply online.

Next steps

The first step on the property ladder is to be armed with the best advice before you start. ASB has all the tools for your dream home buying process.

1. Starting

Tips and tools for the first home buyer to help you plan, budget and save money. Use our mortgage repayments calculator to compare home loans, interest rates, terms and mortgage payments.

2. Power Saving

Ways you could boost your savings to help you on your journey to first home ownership.

3. Finding

How to hunt for the right home and who to talk to while you're looking.

4. Buying

Handy information for the lead up to and process of buying your first home.

ASB's terms and lending criteria apply.

Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB KiwiSaver Scheme).

Returns are a reflection of past performance and are not a guarantee or indication of future performance because returns fluctuate (move up and down). Returns can be negative and you may receive back less than the total amount of your contributions.