First Home Winners

Buying your first home in Cambridge is easier to plan when you separate three questions: what you can afford, which support you may qualify for, and whether a particular property is right for you. A clear budget and early advice are more useful than trying to predict the next interest-rate move.

Start with your deposit and borrowing budget

Talk with a lender or mortgage adviser about your income, existing commitments, deposit and regular costs. Ask what repayments could look like at different interest rates and leave room for rates, insurance, maintenance and moving costs. A loan offer depends on your circumstances and the property; an advertised rate or cash contribution is not a promise of approval.

Could a First Home Loan help?

Kāinga Ora’s First Home Loan may allow an eligible buyer to purchase with a 5% deposit through a participating lender. Eligibility and the lender’s own assessment still apply. Check the current First Home Loan information and ask the lender to confirm the full requirements, interest rate, fees, insurance charges and any low-equity costs in writing.

If family will help with the deposit, explain whether the money is a gift or a loan before applying. Ask your lender and solicitor what evidence or agreement is needed. Previous homeowners should check eligibility rather than assume that a first-home product is available or unavailable to them.

Check your KiwiSaver withdrawal early

You generally need at least three years in KiwiSaver to apply for a first-home withdrawal. You must leave $1,000 in the account, and money transferred from an Australian complying superannuation scheme cannot be withdrawn for this purpose. Your provider should confirm your eligibility, available amount, documents and processing time.

See Inland Revenue’s first-home withdrawal guidance. Discuss any investment-fund decision with an appropriate adviser; a fund switch is not a universal instruction for everyone buying within a year.

Compare homes against the way you will live

Look at Cambridge and Leamington properties within your confirmed budget, then compare layout, condition, heating, storage, parking, outdoor space and ongoing costs. A townhouse may reduce some maintenance tasks, while an older home may offer different space or renovation choices. Check each property’s records and actual features. Neither the suburb nor the age of a home guarantees future capital growth, lending treatment or running costs.

Before you offer or bid

Ask the salesperson for the available property information and sale terms.
Have your solicitor review the agreement, title and relevant council information, and discuss any inspection, finance or other conditions.
Get property-specific confirmation from your lender. General pre-approval can still have conditions.
Confirm insurance, the purchase deposit, withdrawal timing and settlement arrangements.

At auction you normally need to complete your checks and confirm finance before bidding, because an auction purchase is generally unconditional. Read Settled’s auction guidance and get advice on the actual terms.

Keep the home search and the budget together

For each shortlisted home, keep one page with the purchase budget, expected regular costs, immediate work and the questions still being checked. Separate a quoted cost from an allowance. This makes a lower asking price with substantial work easier to compare with a home that better fits your needs from the start.

Use the viewing, offer and settlement checklist, then explore townhouses and units or character homes for the ownership and condition questions specific to your shortlist.

Take the next step in Cambridge

Browse our homes for sale, meet the Cambridge team or read about mortgage advice for your next move. Call 07 827 0222 to discuss a property or viewing. Finance and legal advice should come from the appropriate qualified advisers.

General information checked 16 October 2026. Loan products, terms and eligibility can change; confirm them with the provider before committing.