Building security & stability for whānau
After living apart for the past five years, Te Rōpu and her 24-year-old son Katene have decided to pool their resources. They're hoping to stop renting and buy their own home together in Whangārei.
“It started as a conversation a while back,” said Katene. “Mum was looking to secure my future.”
“Well, he’s my baby,” added Te Rōpu. “I always said to him that if I’m not here, I want to make sure you’re okay. Cause I had nothing. I started with nothing, and I was the first one to buy a home in my family.”
Te Rōpu and Katene worked with Kiwibank Mobile Mortgage Manager, Craig Davis. Get Craig's tips and insights on the home ownership journey.
Māori development leader, Te Rōpu is a part owner of a whare in Kaikohe and has helped other whānau get on the ladder. Now, she plans to use the equity in her existing property to contribute towards the deposit of this new home.
Katene will contribute around $40,000 toward the deposit from his KiwiSaver. “I started KiwiSaver as soon as I could, and put it on the highest percentage I could,” he said. “I think the beauty of it is, I don’t actually see it leave my account.”
I can’t imagine myself doing it [owning a home] with anybody else. It’s also a cultural thing. After a certain time of your parents looking after you, you return the favour.Katene on co-ownership with his mum, Te Rōpu
They viewed many houses in different price brackets, styles and locations to try and find a property that is the right fit for both of them, and Katene admits it’s felt a bit “like a rollercoaster”.
But despite the challenges, they’re proud of how they’ve collaborated and learnt new things about each other.
“We’ve turned out to be really complimentary,” said Katene despite some initial doubts that they would agree. “We can bounce ideas off each other. I’ve gotten a bit more confident to push back, and a bit more comfortable to say no.”
“And I’ve learnt I can’t always be the boss of everything,” laughed Te Rōpu. “I’ve learnt just how much confidence I have in Katene doing the deal for us. I can trust him with all the big decisions that he may need to make on our behalf.”
Watch Te Rōpu and Katene'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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