FREE TOOLS / Home & lending
First-home deposit
The year you can buy. Your deposit target moves with house prices, so this tells you the truth, not the number you hoped for.
Your estimate
Estimated time to your deposit
5 years 1 month
Your savings meet the moving deposit target at this point under the assumptions entered; this is not a loan approval. The chart shows savings, not the deposit target.
- Deposit needed today
- $150,000.00
- Shortfall today
- $120,000.00
- Deposit needed when reached
- $166,038.11
- Savings when reached
- $166,552.28
View all chart values
- Year 0
- $30,000.00
- Year 1
- $55,245.00
- Year 2
- $81,258.00
- Year 3
- $108,063.00
- Year 4
- $135,682.00
- Year 5
- $164,142.00
- Year 6
- $193,467.00
What this estimate assumes
- Both savings returns and house-price growth use nominal annual rates divided by 12, compounded monthly. Savings are added at month end.
- The target deposit remains the same percentage of the changing property price. A target may not be reached within the selected horizon.
- Enter a savings return already net of tax and fees. KiwiSaver withdrawals, grants, buying costs and lender eligibility are not assessed.
For information only, not financial advice. These simplified estimates do not consider your full circumstances. Assumed rates are not forecasts or guaranteed returns. Talk to a financial adviser before making financial decisions.
HOW TO READ THIS TOOL
A moving target, measured honestly.
A target that moves
The deposit you need is a percentage of a house price that keeps changing. The model grows the target as well as your savings, so the answer reflects both.
The year, not the wish
The headline is the time it takes for savings to meet the moving target, or a plain statement that they do not within the period you chose.
The gap in dollars
See the deposit needed today, how far short you are today, and where savings and target sit when they meet or when time runs out.
How the model works
Savings grow at the return you enter and house prices grow at the rate you assume. Both are annual rates divided by twelve and compounded monthly, with your monthly saving added at the end of each month. The chart shows savings only; the target is reported in the figures beside it.
What it leaves out
KiwiSaver first-home withdrawals, grants, legal and moving costs, and whether a lender will accept your deposit are not assessed. Enter a savings return that is already net of tax and fees; the model does not deduct them again.
The assumptions, in full
- Both savings returns and house-price growth use nominal annual rates divided by 12, compounded monthly. Savings are added at month end.
- The target deposit remains the same percentage of the changing property price. A target may not be reached within the selected horizon.
- Enter a savings return already net of tax and fees. KiwiSaver withdrawals, grants, buying costs and lender eligibility are not assessed.
A FEW GOOD QUESTIONS
Before you
trust the number.
An estimate is only as good as the question behind it. These are the ones people ask most about this tool.
All ten toolsWhy does the target keep getting bigger?
Because it is set as a percentage of the property price, and the price grows at the rate you enter. Set house-price growth to 0% to see a fixed target, or a negative rate to test a falling market. Neither is a forecast.
Can I include my KiwiSaver?
Only as part of savings today, and only if you have confirmed you are eligible to withdraw it for a first home. The tool cannot check eligibility, withdrawal timing or the amount that must stay in the account. An adviser can.
It says the target is not reached. What now?
The figures show how far short you are at the end of the period and whether the gap is growing or shrinking. Try a longer horizon, a higher monthly saving, a lower price or a smaller deposit percentage, and see which lever moves the result most. Then talk to an adviser about options a model cannot show, such as guarantees or low-deposit lending.
Is reaching the target the same as being approved?
No. Lenders assess income, debts, spending and the property itself. Meeting the deposit is one condition among several.
YOUR MONEY. YOUR CALL.
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