As a real estate agent, you’re asked a lot of questions from potential buyers. Depending on where you are listing properties, we’re sure you get asked:
“What can you tell me about the KiwiSaver HomeStart Grant?”
If so, how do you answer such an open question? The first step is to get in touch with us. We can help.
To start with, the grant can help with the purchase of one of the following properties and land arrangements:
- Fee simple
- Stratum estate (freehold and leasehold)
- Maori land
The next thing your potential buyer might want to know is if the KiwiSaver HomeStart grant is for the purchase of old/existing properties, or for new properties. The answer is both types of property qualify.
These properties are defined as follows:
New property – this can be any of the following:
- A newly built property, defined as a dwelling of any type that has received its building code compliance certificate less than six months before the date of the buyer’s application
- A vacant residential section on which a new dwelling will be built
- A house and land package purchased off the plans
- A new apartment built off the plans
- Old/existing property – a property that has received its building code compliance certificate more than six months prior to the date of the HomeStart grant application
Things get a little more detailed at this point. A Government initiative isn’t a Government initiative without a plethora of regulations and requirements. If you ever want to find the devil in the detail, look at the eligibility checklist for KiwiSaver HomeGrant. It is a comprehensive list of eyes-glazing-over proportions. Thankfully, we can help you make sense of it so you can make sense to your potential buyers.
There are different conditions that must be met whether they’re buying an older/existing property, buying land with an immediate plan to build a new home, or buying a property off the plans directly from a builder/developer. Under each of those sections are differing eligibility requirements. What applies to older properties might not apply to new properties. We can spell out the differences. And don’t forget the house price caps. These differ from region to region. They’re something else you’ll be asked about, and something else we can set you straight on.
Then there are the conditions for the conditions. These are often denoted by an asterix that indicate there is fine print ahead. This is the natural habitat for the devil in the detail. It is an area we know well and we can guide you through the murk of bureaucracy and into the light.
We’re happy to go through the full set of HomeStart rules with you. In fact, we’re happy to help you in any way we can. One of the best ways we can do that is with our free Homebuyer’s Roadmap and Checklist. Download and hand one to your potential buyer.