Tenant home ownership
The Government through Housing New Zealand is offering state house tenants the opportunity to achieve home ownership.
If you are a tenant and interested in buying your house, please register your interest by calling 0800 801 601. It is important to note that not all properties will be made available for sale.
Tenants who live in houses that are not for sale but wish to buy a house, will be given the option to buy other Housing New Zealand properties that have been identified for sale.
If you are not interested in buying your house, don't worry, you can continue to rent it from us. You are under no obligation to buy.
Sale process
If your house has been identified for sale, and you are interested in home ownership, you will need to go to a lender to find out the maximum amount you can borrow and get written pre-approval. Note this will be subject to the lender's own credit lending criteria. Once you send Housing New Zealand your proof of pre approval, or other finance, Housing New Zealand will then obtain an independent market valuation of the property and advise you of the proposed sale price and the next steps.
There are no government subsidies to assist in buying a state home. However, you may qualify for a Welcome Home Loan which has a lower deposit requirement than other loans provided by some banks. Call 0508 WELCOME (935 266), or visit www.welcomehomeloan.co.nz for more information. Additionally, if you have been a member of KiwiSaver for a minimum of three years, then you may be eligible for the KiwiSaver first-home deposit subsidy or first-home savings withdrawal. For further details, call 0508 935 266 or look at our Buying a home with KiwiSaver pages.
Please note your rent account with Housing New Zealand will need to be up to date by the time you purchase your home. This includes paying off any debt related to damages and Income Related Rent.
If a property cannot be sold
If you live in houses that are not eligible to be sold and are interested in home ownership, you will be given the option to buy vacant Housing New Zealand properties that have been identified for sale. The sale of these state houses will be managed by selected real estate agents.
What else is involved in buying a home?
Additional costs of buying a home may include:
- Legal fees - approximately $1,000
- House and contents insurance - approximately $700 per annum
- Mortgage fee or lender's mortgage insurance premium
- Builders report - approximately $400
Ongoing costs of homeownership
- Rates - approximately $1,000 per annum
- Maintenance - this includes plumbing, painting, etc.
It is important to note that buying your state house will affect your ability to apply to rent a state house for three years from the date of purchase. This is very important should you decide to reapply to rent a state house during that time.
For further information
To find out if your house is available for sale:
- call 0800 801 601
- email saleofstatehouses@hnzc.co.nz
The Buying your own home - Tenant Home Ownership brochure has a further list of important things to consider when buying a home.
