Creating a new family base in Aotearoa
Kevin has been trying to buy a home in Auckland for the past five years, an experience he describes as “frustrating and disheartening at times”. The amount needed for a deposit and to service a mortgage has been challenging to achieve alone.
However, when Kevin’s sister JC got a job in Auckland she suggested buying together. “My brother’s a good person and I trust whatever decision he’ll make about the house,” she said.
Kevin agreed that JC was an ideal co-owner for him. “We know how each other ticks and we’re very open with the finances and who is going to look after what. I feel this is an experience we’ll both grow from - and cherish too.”
Kevin and JC worked with Kiwibank Mobile Mortgage Manager, Deepshikha (Dee) Vyas. Get Dee's tips and insights on the home ownership journey.
Kevin and JC grew up in the Philippines surrounded by a large extended family and friends. Their hope is that a new home will help them to start replicating this family hub here in Aotearoa.
Their Mobile Mortgage Manager, Dee Vyas, could appreciate their journey. “Honestly Kevin and JC, I’m so happy for you because as an immigrant myself, I can relate,” Dee said after sharing news of their conditional approval. “I know how great it is to buy your first home. It gives you a sense of belonging. I can’t wait to see you in your own house.”
We want to future proof our family. We want the next generation to be able to go with and not without. Because we also know the feeling of without… and it kinda sucks.Kevin on co-ownership with his sister, JC
For their deposit, they’ve accumulated $58,000 from Kevin’s KiwiSaver contributions, $22,000 from JC’s KiwiSaver and $10,000 from a government first home buyer’s grant (no longer available).
They’ll split their mortgage repayments with Kevin paying around 70% and JC paying the rest. Kevin’s partner will also join them in the house, and will contribute for utilities and daily expenses.
Reflecting on what advice they’d give other would-be homeowners, Kevin laughs. “Get your sister on board as soon as possible,” he said.
Watch Kevin & JC's story: On the Ladder with Kiwibank is available on ThreeNow.
On the Ladder with Kiwibank is produced in partnership with Warner Bros. Discovery.
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Journalist Paddy Gower speaks with home buyers and Kiwibank CEO Steve Jurkovich about what's driving interest in property co-ownership.
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