East Auckland residents who aspire to own their own home have the chance to get a foot onto the property ladder with help from a charity, but they’ll need to move across town to do it.
The Flat Bush-based Habitat for Humanity is working to raise awareness of its progressive home-ownership scheme, which is also known as rent-to-buy.
It has homes available now in south Auckland for working couples and small families to apply to own.
Key features of the scheme are that there’s no deposit needed; all rent payments go toward owning the home; the properties are brand new, located in safe areas and close to schools, supermarkets, parks and public transport; and Habitat will “walk alongside” successful applicants to help them achieve their dream of home ownership.
Habitat marketing and design lead Anna Marshall says a recent report by Deloitte on homeownership found “fewer than 60 per cent of New Zealanders live in their own home”.
“A shocking statistic, given how important homeownership is to people’s financial security, pride of place and long-term well-being,” she says.
“Habitat’s rent-to-buy homes are a step toward improving these numbers, by supporting more families onto the property ladder.
“These Auckland houses are quality two-bedroom homes, located in a quiet cul-de-sac in Māngere East, close to schools, public transport and a supermarket.”
Progressive home ownership is described as a “hand up, not a handout”.
Applicants must show a willingness to partner with Habitat and have the potential to successfully shift to home ownership.
The process works by families applying, being interviewed, and agreeing to partner with the charity.
The homes are built, the selected families move in, and the property’s eventual purchase price is agreed upon.
Affordable rent is paid over the first five years. Rent, less Habitat’s costs, begins to build up a deposit.
The charity continues to support families and after five years they can purchase the home using their rent and value equity.
Habitat has eight brand new two-bedroom homes located in Māngere East that are ready for working families, couples and first-home buyers to move into this year.
The eligibility criteria include the applicants being a working household able to afford market rent, a maximum of four occupants (no more than two adults and two children), and the household having existing Kiwisaver.
Habitat for Humanity chief executive Conrad LaPointe says: “We strongly encourage working people to apply for these homes.
“If you aspire to own your own home, this is the most affordable and accessible opportunity on the market.”
For more information and to apply, go online to www.habitat.org.nz.
