If you've two of you in kiwisaver and have been for a few years you should have a reasonable little nest egg to add to your other deposits- gov't + employer contributions help and add up. If we needed a deposit for a house now and were starting out my wife's and my contributions would go a long way towards a deposit on a house.
Sold my lifestyle block to a couple from South Africa about 3 years ago. They had to come to NZ with nothing after having walked away from their mortgage free property. Between them in 3 years their kiwi saver made the bulk of their deposit to buy our house (as a private sale and gave them a bit of a deal)- it is a legitimate way to build a nest egg along with other investments. If you've been in it for 5 + years you should have a reasonable amount saved and if you are in your 20s you could easily have been in kiwisaver for 5-7 years and use that money towards your deposit, along with other investments/savings.
As for how I started, went overseas got paid heaps to do bugger all for three years so saved as much as I could and threw it all into property in NZ (I guess I was one of those overseas investors for those three years) and have been cruising ever since. My wife and I had a plan for those three years, while most of the other expats we worked with partied and spent most of their money a few of us cannier ones started getting into property, in the end we had about 4-5 of us doing it. Still travelled and had fun, just didn't take our eyes off the ball. And there was no way we could have done what we did in 3 years had we been living in NZ at the time and starting with $0 savings (as we did).
Sold my lifestyle block to a couple from South Africa about 3 years ago. They had to come to NZ with nothing after having walked away from their mortgage free property. Between them in 3 years their kiwi saver made the bulk of their deposit to buy our house (as a private sale and gave them a bit of a deal)- it is a legitimate way to build a nest egg along with other investments. If you've been in it for 5 + years you should have a reasonable amount saved and if you are in your 20s you could easily have been in kiwisaver for 5-7 years and use that money towards your deposit, along with other investments/savings.
As for how I started, went overseas got paid heaps to do bugger all for three years so saved as much as I could and threw it all into property in NZ (I guess I was one of those overseas investors for those three years) and have been cruising ever since. My wife and I had a plan for those three years, while most of the other expats we worked with partied and spent most of their money a few of us cannier ones started getting into property, in the end we had about 4-5 of us doing it. Still travelled and had fun, just didn't take our eyes off the ball. And there was no way we could have done what we did in 3 years had we been living in NZ at the time and starting with $0 savings (as we did).
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