Top 5 Savings Hacks for Auckland First-Home Buyers
Buying your first home in Auckland? That’s a really big deal! We also know how tough it can be. Between trying to save for a deposit and still enjoy your flat whites and weekend road trips, it can feel like a juggling act worthy of a circus. But good news: when you know how to save for a house, owning a home in Auckland can be more than just a dream.
At Auckland Loans, we’re all about better local lending and making things simpler for first-home buyers like you. So here are our top 5 savings hacks to help you get that foot on the property ladder—without giving up everything you love.
1. Get Real About Your Deposit Goal (And Automate It)
Let’s start with the basics. Most home loan lenders require at least a 20% deposit. Having a deposit of at least 20% is ideal for two reasons:
- You’ll get access to the banks’ “special” home loan rates, which are generally lower than the standard rates.
- You will avoid paying a “low equity premium”, which is an extra charge lenders tack onto your loan if you borrow more than 80% of the value of the home.
So, it’s possible to get a low with less than 20% deposit, but it might be harder to get approval and you’re likely to pay more in interest and fees.
What does a 20% deposit look like, then?
Let’s take the median first home buyer house price for 2025 of about $900,000. For a loan of this size a 20% deposit would be $180,000.
Sounds like a lot? Yeah, but here’s the trick: break it down.
If you aim to save $80,000 in 4 years (and use your Kiwisaver or family assistance for the rest), that’s about $385 per week.
Now set up an automatic transfer to a separate savings account right after payday—out of sight, out of mind.
Is a 20% deposit a bit unrealistic? You’re not alone – keep reading to learn about financial help available for Auckland first home buyers.
2. Use Your KiwiSaver
If you’re in KiwiSaver, you’re already on the right track. But did you know you can withdraw most of your KiwiSaver fund to put towards your first home?
To make a withdrawal, you must have been in KiwiSaver for at least 3 years and you need to leave $1,000 in your account.
You might be surprised at how much you’ll be able to withdraw, especially if you’ve been working full time for a few years. Get in touch with your KiwiSaver provider to find out how much you could use towards your deposit.
3. Trim the Fat (Without Living Like a Monk)
No, we’re not going to tell you to ditch coffee or stop having fun. But trimming your spending in smart ways makes a big difference over time.
Here’s a few ways to do it:
- Swap Uber Eats for meal prepping: Even cutting back twice a week can save $100+ monthly.
- Use public transport more often: Your AT HOP card is probably cheaper than petrol + parking.
- Review your subscriptions: Do you really need Spotify, Netflix, AND Disney+?
- Split costs with flatmates: Share grocery costs or bulk-buy essentials to save long-term.
Small wins add up. And remember, Auckland Loans is all about making things easier and more affordable, so you won’t need to cut back everything to qualify for a great deal.
4. Take Advantage of Government Support
While most home loan lenders require a 20% deposit, you could get a home with as little as a 5% deposit with a First Home Loan.
These loans are underwritten by Kainga Ora, so the lender can accept a lower deposit when normally they might not be able to.
You can use your KiwiSaver savings for your 5% deposit.
There are criteria you need to meet, such as earning under an income threshold. There is also a Lender’s Mortgage Insurance premium of 1.2% you’ll need to pay.
Despite the extra charges, it still could be worth it if it allows you to get onto the property ladder.
5. Get Your Debt Under Control
Having debt is a huge barrier to saving for a house deposit.
If you’ve got a few loans and you’re paying too much, consider a debt consolidation loan as a way to get back on track.
With Auckland Loans, you get access to multiple lenders from just one application. Our low rates and flexible terms means we can structure your loan to suit you and make your repayments affordable.
This makes it easier to have money leftover to save for that first home!
We know buying a house in Auckland can feel intimidating. But with a bit of strategy, local know-how, and a few clever savings hacks, you’ll be surprised how quickly you can reach your goal.
At Auckland Loans, we’ve helped heaps of first-home buyers just like you. Whether you’ve got 20% saved or you’re just getting started, we’re here to make the process faster, easier, and way less stressful.
- More options
- Better rates
- Friendly local support
- Fast service
Let’s get you home!
Ready to start your journey?
Apply online now for a fast, free quote—same-day approvals available!
