In real estate, the saying is that you should concentrate on location, location, location.

If you’re a first-time buyer the emphasis should be different. Focus instead on savings, savings, savings.

The first-time buyers we have worked with in recent years have invariably used KiwiSaver to the max. They have bumped their contributions up to 8% of salary and kept making payments through thick and thin. After years of diligent saving they have built up a sizeable deposit for that much-desired first home.

Many have also gone the extra mile and generated additional savings in a personal savings account. I’ve helped all sorts of young people, both singles and couples, to buy their first home, simply based on their ability to sock away savings for years on end.

Yes, some of them have also benefited from help provided by family. But many haven’t. And they’re not just buying apartments – many of them have purchased houses and land.

Saving a deposit is not rocket science but it does take commitment. If you or someone in your family is contemplating that first step towards home ownership, please get in touch. I’d be more than happy to provide some guidance to ensure you’re in the best position to obtain a loan when the time is right to buy.

Are you a first-time buyer, or do you know someone who is? Make an appointment