Buying property off the plans - eligibility

Published: 1 August 2016

KiwiSaver HomeStart grantIf you are buying property off the plans directly from a builder/developer you need to meet the following conditions.

 

(If you are buying an existing / older home or a new home, click here.

If you are buying land to build a new home on, click here.)

 

  • It will be the only property I own (you cannot own any other property/land)

  • I am buying a property off the plans, which needs to be built within the projected date for completion as evidenced by a signed copy of the agreement/contract. My solicitor will advise you when settlement is to occur.

  • I will live in the property as my primary place of residence for at least six months from settlement date.

  • The total cost of the completed property is within the house price caps. All regions are based on the Territorial Local Authority boundaries.

 

 

The house price caps

Region

House price cap for new properties

Auckland $650,000
Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Tasman District, Nelson City, Waimakariri District, Christchurch City, Selwyn District, Queenstown Lakes District $550,000
Rest of New Zealand $450,000

 

If you meet the above criteria you can start the application process now.

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