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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.

1. See where you're at

By figuring out how much you’re earning versus spending you can see realistically how much you can save. You can use our Track My Spending tool to see where your money's going. It's also useful to check how much is going into your KiwiSaver account if you're planning to use this for your first home deposit. 

2. 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.

3. 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 KiwiSaver each payday. Remember, if you're planning to use your KiwiSaver savings for your first home deposit, you'll need to check if you're eligible.

4. 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. You can even set milestones to hit on the way to your goal, and celebrate as you hit them!

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.

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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

1. Starting

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

2. Power Saving

Ways you could boost your savings to help you get that first home.

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.