Buying your first home can feel like a whirlwind – exciting, emotional, and full of decisions you didn’t know you’d need to make. For one Fisher Funds staff member, Sam, the journey to home ownership came sooner than expected – and thanks to some smart KiwiSaver planning and a bit of expert help, she was able to achieve this life-changing milestone sooner than she expected.
Q: What motivated you to start thinking about buying your first home, and how did KiwiSaver factor into your decision?
A: My husband and I got married at the beginning of the year. We had been living with my parents and, while we loved it, buying a home felt like the natural next step in our relationship. But after spending so much on our wedding and honeymoon, I was certain we wouldn’t be buying a house anytime soon. Our bank savings had dwindled, so we knew we’d need to use our KiwiSaver money to help with our deposit. We’d been contributing 10% of our salaries since we started dating, hoping one day it would help us buy a home - and it did!
Q: How did you find the process of using your KiwiSaver money for your deposit? Was anything confusing or unexpected?
A: Honestly, I found it very easy and efficient. The team at Fisher Funds were amazing. They worked quickly to meet our short settlement date. Our purchase had a tight timeframe, but they made the process smooth.
Q: Did you use any tools or apps to help with the process – like downloading your First Home Buyer Letter? How was that experience?
A: Yes, I used the Fisher Funds mobile app and live chat to get my First Home Buyer Letter. It was super helpful – no long wait times, and I was able to send it to my mortgage broker within minutes of requesting it.
Q: What was the most challenging part of the home-buying journey for you, and how did you overcome it?
A: Getting preapproval was definitely the hardest part. We had such a short timeframe and didn’t meet the 20% home loan deposit requirement. That’s where our KiwiSaver money came in – it made all the difference. Without it, I wouldn’t be in my home right now.
Q: What advice would you give to someone just starting their first-home journey and planning to use their KiwiSaver money?
A: Get some financial advice and make sure you’re in the right fund. Markets can be volatile, and if you’re relying on your KiwiSaver money for preapproval, you need a fund that works for your timeline. It’s also a great opportunity to get some advice and check your investment strategy is right for you. I’ve seen firsthand how important this is. If the market drops before you withdraw the money, and you don’t have the extra savings to cover the shortfall, you could lose the opportunity to buy. Being in a high-risk fund might not be the best choice when you know you need a set amount of money in the short to medium term.
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This story is a powerful reminder of how KiwiSaver can be a game-changer for first-home buyers. From choosing the right fund to seeking timely advice, every decision matters. Whether you're just starting your journey or already house-hunting, make sure your KiwiSaver investment strategy aligns with your goals and timeline. And don’t hesitate to lean on the experts – they’re there to help you turn your home ownership dream into reality.
If you have any questions about your investment or would like to make sure you have the right investment strategy to reach your ambitions, get in touch with us. Our team are always happy to help.
If you’re new to Fisher Funds, you can join us online. It only takes a few minutes and once you're done we'll take care of the rest – including contacting your current provider. Make sure you have your IRD Number and a valid NZ/AUS Driver Licence or NZ/AUS Passport.
