How much deposit do I need to buy my first home?

You don’t always need a 20% deposit. With new builds you can get in with a 10% deposit. Eligible buyers may also qualify for a First Home Loan with a 5% deposit. For a $600,000 home, a 10% deposit is $60,000. Whereas a 20% deposit is $120,000

Can I use KiwiSaver towards my first-home deposit?

Yes, if you meet the first-home withdrawal rules. You generally need to have been a KiwiSaver member for at least three years and intend to live in the home. Ask your KiwiSaver provider to confirm how much you can withdraw and arrange the application before you need the money.

How do I know if I can afford to buy my first home?

Start with what you could borrow and what you’d be comfortable paying each week. Your deposit is only part of the picture. A bank also looks at your income, spending and financial commitments. Our calculator gives you an initial indication of what you might borrow, not pre-approval.

Is a new build a good option for my first home?

A new build can mean moving into your own home without taking on a renovation project. New fittings and modern specifications can also mean fewer age-related upgrades to budget for early on. Plus it's easier to keep warm. Compare the location, layout, price and ongoing costs, not just whether the home is new. Buying off-plan also means checking the specifications, expected completion and contract with your lawyer before committing.

Can flatmates help me pay the mortgage on my first home?

Yes. Renting out a spare room can reduce the amount your household needs to cover each week. For example, a flatmate paying $250 a week contributes that amount towards your outgoings. Use our weekly calculator to compare repayments with and without flatmates.

Do I need pre-approval before looking at homes?

No. You can start exploring homes while you work through finance. Pre-approval helps you understand your likely borrowing limit. Already pre-approved? Tell us where you’d like to live and your budget. We’ll help you compare suitable new-build homes and arrange viewings where available.

How does The Property Factory help first-home buyers, and what does it cost?

We’re a real estate agency specialising in new-build homes. Rather than contacting developers and agents one by one, you can compare options available through us, understand the property information and get help working through the purchase. There’s no buyer-service fee from The Property Factory. We’re paid by the developer when you buy.

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We’re a real estate agency helping you compare new-build homes across 50+ developers, understand the costs and help you work through buying your first home.

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Start with what matters

What Do You Need To Buy Your First Home?

Your deposit, the weekly repayments and the buying process. We’ll help you understand all three.

How much deposit do I actually need?

Between your KiwiSaver and savings, all you need is a 10% deposit (sometimes 5%) to buy a new build property as your first home.

What will I pay each week?

Include rates, insurance, upkeep and any ownership levies, not just the mortgage.

Start with your budget and priorities

Start with your position and priorities. Then compare suitable homes, rather than every listing.

Find out if I can buy

Cost To Own Your First Home

What could a home of your own cost?

Try a purchase price and the deposit you could put towards it. This is a cost example, not an estimate of what a bank will let you borrow.

Purchase price

$

Your deposit

$100,000

Savings

$

KiwiSaver

$

Gifts

$

15.4% deposit · $550,000 loan

Will you have flatmates?

5% INTEREST · 30 YEARS

Your weekly mortgage

$681/ week

Principal and interest, with no flatmate income included.

Full mortgage repayment$681

Flatmate contribution$0

Find out if I can buy

Mortgage only. Rates, insurance and other ownership costs are extra.

How this is worked out

A repayment example, not loan approval.

5% annual interest over 30 years, with principal and interest. This is an illustration, not a current bank offer or a rate guaranteed for 30 years. Monthly repayments are converted to a weekly equivalent (× 12 ÷ 52); your lender’s payment schedule may differ. No rates, insurance, upkeep, levies, fees or personal living costs are added.

Only count money for the purchase.

Savings should be what you can put into the price after allowing for buying costs. Enter the KiwiSaver amount you expect to be eligible to withdraw, not automatically your full balance. Gifts should be non-repayable; borrowed family money is not a gift. Check KiwiSaver eligibility.

Flatmates help with payments, not the loan balance.

The $250 per flatmate is an editable example, not a rental appraisal. Contributions assume suitable space and rent paid in the week shown; no empty-week allowance is deducted. Do not include bills or count co-owners as flatmates. You remain responsible for the full mortgage. Tax may apply to flatmate income.

A weekly repayment comparison, not a rent-or-buy forecast.

The rent toggle compares the mortgage amount your household would cover, after any selected flatmate contributions, with the rent your household pays now. Use the same household in both figures and exclude bills from rent. Other ownership costs, tax, changes in rent or interest, and the return on your deposit are not modelled. A lower mortgage contribution does not by itself mean owning is cheaper overall.

The next step checks your actual position.

This calculator does not assess income, expenses, credit or lender criteria. The button opens TPF’s existing Investment Capacity Report intake. These example numbers are not sent to it and are not recorded as your finances.

New Build Homes Across New Zealand

Your first home is out there.
Let’s narrow the search.

We’re a real estate agency specialising in new builds, with properties across 50+ developers we work with. Explore new builds across New Zealand and we'll help you narrow the search.

Townhouses Apartments House & land

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Find Out My Budget

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Calculator

Find Out if You Can Afford to Purchase a Property in 2026

Find Out If You Can Buy Your First Home in 2026

Answer a few quick questions to find out how much you could potentially borrow from the bank in just 2 minutes.

Start the quiz

What best describes you?

Choose the option that best describes your current situation.

First Home Buyer

First Time Investor

Investor

Owner Occupier/Other

What’s your income situation?

This is before tax. If you are a contractor or business owner, this is how much you paid yourself.

Annual household income (before tax)

$

Annual rental income (optional)

$

What’s the total value of your properties?

Add the combined estimated market value for your home and investment properties.

Value — own home

$

Value — investment properties

$

What's your current lending situation?

Helps us understand your total borrowing and repayments.

Mortgage balance (all properties)

$

Personal loans / credit cards (optional)

$

Pre-approved for finance?

No

Yes

How much savings do you have?

This is any cash that you could use for the deposit for a property such as cash savings, KiwiSaver etc.

Cash / savings

$

Let’s finalise your report

Fill in the form to get your Investment Capacity Report

First Name

Last Name

Email

Phone

Invalid Phone

Preferred buying location

Your calculator results are being created

We will be sending a copy of the report to your email within the next 10 minutes.

In the meantime, take a look at the properties we have available.

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Disclaimer: This calculator provides indicative estimates only and is not a loan offer or guarantee of finance. Results are based on general assumptions and user-provided information and do not constitute financial or credit advice. Independent advice should be sought before making any borrowing or investment decision.

Why The Property Factory?

More options.
Less working it out alone.

A developer can tell you about their homes. We help you compare new builds across the developers we work with, bringing the property information and questions together and guide you through the entire process.

$0

Buyer service fee

The Property Factory is a real estate agency. Your own legal, lending, buying and ownership costs still apply.

More homes to compare

Compare new builds without contacting developers and real estate agents one by one.

Understand the costs

Work through the purchase price, mortgage payments and other costs before you commit.

Help through the process

Get help with property questions, viewings and the steps towards settlement.

A person to talk it through with

Our first home buyer specialists are here to help you guide you throughout the whole process and answer any of your questions.

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First Home Buyer Testimonial

How Mara Bought Her First Home

"When I started looking properly for a property I didn't know what I was doing. I would definitely recommend The Property Factory to anyone looking to buy. They're very human and guide you through the whole process."

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How it works

From First Question.
To Your First Home.

Get in Touch

01

Tell us what you’re looking for

Your location, budget and what matters in your first home.

02

Compare homes and arrange viewings

Narrow the options and understand the differences.

03

Get help through to settlement

Work through the purchase with our team, your lawyer and your mortgage broker.

Helpful Info

Frequently Asked Questions

Let’s clear up a few things before you start

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Let's Get You Into
Your First Home

What Do You Need To Buy Your First Home?